In response to the challenging market conditions brought on by Covid-19 last year, Wallenius Wilhelmsen put 16 of its vessels into cold lay-up. Now, as the Company enters in 2021, Wallenius Wilhelmsen are returning up to nine of these vessels to the sea, to replace capacity the Company currently source through short-time charters.
The onset of the Covid-19 pandemic saw a significant reduction in demand for cargo-carrying capacity across the globe. In response, Wallenius made the decision to recycle four vessels in its 123-strong fleet and put others into cold lay-up, essentially taking them out of service as the Company weathered the storm.
While the pandemic is still very much part of our reality, reduced capacity and rising rates in the charter market have led to the decision to bring up to nine of Company's vessels back into service so they can continue to deliver competitive solutions for its customers.
Plans are in place to reactivate these vessels during the first quarter of the year to replace the capacity currently sourced through short-term charters.
“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.
To further support flexibility in the fleet, later this year the Company will also be welcoming its fourth HERO vessel, the last newbuilding in the Wallenius Wilhelmsen HERO series.
Source: Wallenius Wilhelmsen