According to MarketScreener’s report yesterday, Wallenius Wilhelmsen is to reactivate 3 more vessels that have been in cold lay-up in order to replace short-term time charter capacity. The reduction in capacity and rising rates
continue to make reactivation of vessels in layup a more cost-competitive
The vessels will be operated again from June or July. In January of this year, Wallenius Wilhelmsen decided to reactivate up to 9 of the 15 vessels that had been placed in lay-up during spring 2020.
“As part of our operations, we have the ability to adjust the fleet to our needs and changing market conditions. 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,” said Craig Jasienski, CEO of Wallenius Wilhelmsen.