Wallenius Wilhelmsen returns three more vessels from cold lay-up
After placing 15 vessels in cold lay-up last spring, we began the process of reactivating nine of them at the beginning of this year. To keep pace with changing market conditions, we are now returning another three vessels to the sea to replace short-term time charter capacity.
In response to growing demand together with rising rates and lack of capacity in the time charter market, we are bringing another three vessels out of cold lay-up to re-join our almost 130-strong fleet
Joining the nine vessels already in the process of being reactivated, these three vessels are expected to be back in service in June and July.
“As part of our operations, we have the ability to adjust the fleet to our needs and changing market conditions,” says Craig Jasienski, CEO of Wallenius Wilhelmsen.
With some industries showing signs of recovery, there is potential for the remaining four vessels in lay-up to be reactivated later in the year, returning our fleet back to full strength.
“While it remains challenging to predict the potential market impact from virus intensity in parts of the world, the overall industry supply-demand balance is expected to improve in the mid-term due to overall global fleet reduction, low order book and a rebound in volumes during 2021,” adds Jasienski.
Wallenius Wilhelmsen is a Sweden/Norway-based global RoRo shipping and vehicle logistics company, managing the distribution of cars, trucks, rolling equipment and breakbulk globally. Wallenius Wilhelmsen is a shipping and logistics group, with Wallenius Wilhelmsen Ocean and Wallenius Wilhelmsen Solutions (formerly known as Wallenius Wilhelmsen Logistics), EUKOR, American Roll-on Roll-off Carrier (ARC) and Armacup as main brands. The Group has 9,400 employees worldwide and owns a fleet of 126 vessels servicing 15 trade routes to six continents, together with a global inland distribution network, 120 processing centers, and 11 marine terminals.