KOREAN MACHINERY MAKER SIGNS LOW-CARBON TRANSPORT CONTRACT

Jan 22, 2024 | Maritime business news

Wallenius Wilhelmsen has signed a significant multi-year shipping contract with an unnamed Asian company, described as Korea’s leading construction machinery company.

The new agreement, which has a duration of three years, plus a two-year extension option, is valued at approximately US$ 290m based on expected volumes over the three-year period. The contract commenced in January 2024.

The contract includes Wallenius Wilhelmsen’s Reduced Carbon Freight Service, whereby customers can typically reduce their Scope 3 CO2/GHG supply chain emissions by approximately 20-25% through the utilization of B30 Biofuel.

Pia Synnerman, Chief Customer Officer, Wallenius Wilhelmsen said: “This multi-year contract further strengthens our partnership with one of our key customers in the high and heavy segment, extending predictability for both the customer and Wallenius Wilhelmsen. We are witnessing a transformation in customers’ sense of urgency regarding the need to decarbonise their supply chains. Customers are partnering up with us and are increasingly committed to securing more sustainable solutions, such as biofuel.”

Image: Vehicle transport vessel (credit: Wallenius Wilhelmsen)

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