Methanol-Capable, Ammonia-Ready Newbuilds Slated for 2026 Delivery
Wallenius Wilhelmsen has signed a letter of intent for four “next generation” methanol-capable and ammonia-ready pure car and truck carriers, or PCTCs, with options for an additional eight.
The 9,350-car equivalent unit, or CEU vessels, dubbed “Shaper Class”, will be built by China’s Jinling Shipyard, and are slated for delivery from mid-2026 onwards, the Norway-based RoRo operator said.
Development of the new design began a year-and-a-half ago, with Wallenius Wilhelmsen’s newbuildings team working alongside vessel designer Delta Marin and internal and external stakeholders.
“I am very happy that we can launch this to the market now. I know it is expected from us, and that in order to keep our fleet size, we need to continue ordering vessels. However, with no clear direction on future fuel, this has not been an easy task. We needed time to assess what was the best option for us,” said Xavier Leroi, EVP and COO Shipping Services.
“We will continue to deliver great services with a competitive fleet, offering sustainable supply chain services both on land and at sea. We are already partnering with our customers on reducing emissions through biofuel and with the new vessels we can accelerate this towards net-zero. This requires new and more expensive fuels but both we and our customers are committed to securing this as soon as it can be made available.”
Wallenius Wilhelmsen controls more than 125 vessels servicing 15 trade routes to six continents, together with a global inland distribution network, 121 inland processing centres, and nine marine terminals.
In this year’s second quarter, the company reported earnings before interest, taxes, depreciation and amortization, or EBITDA, of US$477 million, up from US$311 million in the year-ago period. A record-high EBITDA margin was fueled by increased volumes and improved voyage efficiency across multiple trade routes, the company said.
The quarter was marked by ongoing challenges such port delays in Australia caused by biosecurity clearance processes and other congestion issues on the US West Coast, in Canada and at the Panama Canal.
“Financially, commercially and operationally, it was a good quarter. Cash generation is solid providing a foundation for our business going forward,” said Lasse Kristoffersen, CEO at Wallenius Wilhelmsen. “Our people are doing an outstanding job managing a high-quality operation with a safety-first approach in an environment still characterized by congestion and supply chain constraints."
Wallenius Wilhelmsen will be exhibiting at Breakbulk Americas 2023, taking place on 26-28 September at the George R. Brown Convention Center in Houston, Texas.
