In response to the challenging market conditions brought on by Covid-19 last year, wallenius wilhelmsen (WW) group had put 16 of their vessels into cold lay-up. Now, as we enter 2021, WW group has decided to return up to nine of these vessels to the sea, to replace capacity they 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, WW group made the decision to recycle four vessels in 123-strong fleet and put others into cold lay-up, essentially taking them out of service as shipping industry 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 their vessels back into service.
Plans are in place to reactivate these vessels during the first quarter of the year to replace 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 WW group will also be welcoming their fourth HERO vessel, the last newbuilding in the HERO series.