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Norwegian shipping giant Wallenius Wilhelmsen secures a lucrative multi-year contract exceeding $1 billion with a prominent player in the premium car segment, incorporating biofuel usage.

In a significant move towards sustainable shipping practices, Wallenius Wilhelmsen, a leading Norwegian shipping and logistics company, has clinched a multi-year agreement valued at over $1 billion with a major global player in the premium automotive sector. The comprehensive contract encompasses shipping and logistics services, alongside a notable inclusion of biofuel utilization, signaling a strategic shift towards eco-friendly operations.

The duration of the multi-year contract spans three years initially, with a potential two-year extension mutually agreed upon. The contract, effective between January and April 2024, features rates aligned with prevailing market levels.

Lasse Kristoffersen, President, and CEO of Wallenius Wilhelmsen, emphasized the evolving priorities of manufacturers, highlighting a growing demand for supply chain solutions offering predictability. Kristoffersen stated, “We see manufacturers shifting priorities and increasingly looking for solutions which provide predictability in their supply chains. In this case, it means longer-term contracts encompassing both logistics and shipping services.”

The integration of biofuel into the agreement underscores Wallenius Wilhelmsen’s commitment to environmental stewardship and sustainable practices. Pia Synnerman, Chief Customer Officer at Wallenius Wilhelmsen, emphasized the strategic significance of biofuel adoption, particularly for environmentally conscious customers cognizant of the imperative to decarbonize global supply chains.

This latest billion-dollar deal follows Wallenius Wilhelmsen’s recent contracts exceeding $1.2 billion with a global construction and mining equipment manufacturer, as well as one of the largest automotive distributors in the Americas. These contracts provide direct support for the company’s decarbonization initiatives, including biofuel utilization, technical enhancements to existing fleets, and the exploration of new technologies.

Wallenius Wilhelmsen’s commitment to decarbonization extends beyond biofuel integration, with ongoing assessments of HSFO-biofuel blends and VLSFO-biofuel blends in the Asia region. The company recently conducted trials of B30 HSFO biofuel at Masan Port, South Korea, as part of its global deep-sea trade decarbonization strategy.

In June 2023, Wallenius Wilhelmsen entered its inaugural biofuel contract with U.S. energy giant ExxonMobil, marking a pivotal step towards sustainable energy adoption. Additionally, the company’s decarbonization efforts encompass shipbuilding agreements for methanol-capable and ammonia-ready vessels, reflecting a strategic commitment to achieving net-zero emissions.

With its latest billion-dollar contract underscored by biofuel integration, Wallenius Wilhelmsen solidifies its position as a pioneering force in sustainable shipping practices, setting a precedent for eco-conscious initiatives within the global logistics industry.

Wallenius Wilhelmsen’s billion-dollar deal, underscored by the integration of biofuel, marks a significant milestone in the company’s journey towards sustainable shipping practices. With an emphasis on long-term partnerships and environmental stewardship, Wallenius Wilhelmsen sets a compelling example for the industry, reinforcing its commitment to driving positive change in global supply chains.

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