Oslo, 5 January 2021 – Wallenius Wilhelmsen has decided to reactivate up to 9 of its 16 vessels that are currently in cold layup. Reactivation will take place during Q1 2021, and the reactivated vessels will replace capacity currently sourced through short term charters.
At the onset of the Covid-19 pandemic, Wallenius Wilhelmsen took decisive action to meet challenging market conditions by canceling dividends, as well as recycling and laying up vessels to preserve cash and reduce costs. While the company maintains its cautious volume outlook, 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.
In Q4 2020, Wallenius Wilhelmsen introduced M/V Tannhauser to its fleet. This is the third vessel in the Hero series, designed to provide operational and environmental efficiencies. The fourth and final Hero vessel is under construction and is scheduled for delivery in Q2 2021.
Source: walleniuswilhelmsen.com
