Wallenius Wilhelmsen Plans Four Firm and Eight Optional LNG Dual-Fuel Car
Norwegian car carrier operator Wallenius Wilhelmsen has revealed its latest shipbuilding initiative, unveiling plans to construct up to 12 dual-fuel PCTCs (pure car and track carrier) in the coming years. This strategic move marks a significant development for the company, solidifying its position in the deep-sea Ro-Ro vessel segment.
Successful Completion of Private Placement
On October 6, Wallenius Wilhelmsen successfully concluded a private placement, issuing 17,145,000 shares at a price of NOK 168 per share, raising approximately NOK 2.88 billion (around US$300 million). The company emphasized that the net proceeds from this placement, combined with debt financing, would be utilized to fully finance its new shipbuilding program. Additionally, a portion of the funds will be allocated for general corporate purposes.
Advanced Negotiations for Shipbuilding Contract
Wallenius Wilhelmsen has disclosed that it is currently in advanced negotiations with shipbuilders to secure a contract for the construction of large LNG dual-fuel PCTCs. The agreement would entail a firm order for four vessels and an option for an additional eight. The initial four vessels are slated for delivery in 2030, with the potential additional vessels expected to follow on a quarterly basis starting in 2031. Although specific details such as the shipyard, vessel capacity, and contract price remain undisclosed at this time, the company is poised to enhance its operational leverage within the car carrier market.
Should the plan for up to 12 newbuild vessels materialize, Wallenius Wilhelmsen’s order book would expand to 26 vessels (including options), with deliveries spanning from the third quarter of 2026 through 2032. This expansion underscores the company’s commitment to leveraging growth opportunities within the sector.
Wallenius Wilhelmsen’s venture into shipbuilding aligns with its overarching goal of maintaining a leading position in RoRo shipping and vehicle logistics. With operations spanning 28 countries or regions and a diverse fleet of approximately 125 vessels, the company continues to provide essential transport services for cars, trucks, RoRo equipment, and breakbulk cargo on a global scale.
In the dynamic landscape of maritime transportation, Wallenius Wilhelmsen’s strategic shipbuilding endeavors signal a proactive approach to meeting evolving market demands and reinforcing its competitive edge in the industry.
