Wallenius Wilhelmsen to reactivate nine ships from cold layup in Q1

The Oslo-listed car carrier said the scarcity of capacity and increasing rates in the time charter market make reactivation of vessels in layup a more cost competitive option.

“Flexibility in the fleet has been a core strategic choice since the inception of Wallenius Wilhelmsen, ensuring our ability to adjust the fleet to our needs and shifting market demand,” said Craig Jasienski, ceo of Wallenius Wilhelmsen.

The layup of the vessels was made at the onset of the Covid-19 pandemic, where the company took the decision action in order to meet challenging market conditions by cancelling dividends, as well as recycling and laying up vessels to preserve cash and reduce costs.

Meanwhile, Wallenius Wilhelmsen is looking forward to taking delivery of the last in a series of four ‘Hero’ vessels in the second quarter of 2021. The third vessel in the Hero series, designed to provide operational and environmental efficiencies, was delivered in the fourth quarter of last year.