WALLENIUS Wilhelmsen’s second-quarter results – released on Tuesday (15 August) – showed the ro-ro specialist ocean carrier in a strong financial position.
The company reported US$477 million in EBITDA and US$396 million in operating cash flow.
It said its shipping division delivered an all-time-high EBITDA margin with increasing volumes and rates, combined with “strong voyage efficiency”.
Wallenius Wilhelmsen CEO Lasse Kristoffersen said: “Financially, commercially and operationally, it was a good quarter. Cash generation is solid providing a foundation for our business going forward”.
“Our people are doing an outstanding job managing a high-quality operation with a safety-first approach in an environment still characterised by congestion and supply chain constraints,” Mr Kristoffersen said.
The CEO went on to say the quarter also had its challenges.
He said waiting at key ports remains a challenge; one contributing factor is the recurrent delays attributed to biosecurity clearance processes in Australia.
The company also encountered congestions on the West Coast of the United States, in Canada, and in the Panama Canal.
Mr Kristoffersen said the company is stretched on capacity and said long-standing customers are renewing contracts at compelling market rates ensuring predictability for all parties.
Over the quarter, Wallenius Wilhelmsen signed a “significant contract” with an electric vehicle manufacturer, extending until the end of 2025.
Also, the company signed a contract securing sustainable biofuel.
Throughout Q2, the company observed a positive trend in emission reduction and an enhancement in safety performance.
After the end of the second quarter, the company signed a letter of intent outlining the delivery of four vessels with a capacity of 9350-CEU, methanol-capable and ammonia-ready, alongside individual options for an additional eight newbuildings.
The four vessels, designated as the “Shaper Class,” will be delivered from mid-2026 and onwards.
“We are securing our position as our customers’ first choice in shipping and delivering on our strategy to provide a net-zero emission free service by 2027,” Mr Kristoffersen said.