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The shift to electric in the automotive sector is harming European forwarders and car-carriers, while ...
UPS: MULTI-MILLION PENALTY FOR UNFAIR EARNINGS DISCLOSUREWTC: PUNISHEDVW: UNDER PRESSUREKNIN: APAC LEADERSHIP WATCHZIM: TAKING PROFITPEP: MINOR HOLDINGS CONSOLIDATIONDHL: GREEN DEALBA: WIND OF CHANGEMAERSK: BULLISH CALLXPO: HEDGE FUNDS ENGINEF: CHOPPING BOARDWTC: NEW RECORDZIM: BALANCE SHEET IN CHECKZIM: SURGING
UPS: MULTI-MILLION PENALTY FOR UNFAIR EARNINGS DISCLOSUREWTC: PUNISHEDVW: UNDER PRESSUREKNIN: APAC LEADERSHIP WATCHZIM: TAKING PROFITPEP: MINOR HOLDINGS CONSOLIDATIONDHL: GREEN DEALBA: WIND OF CHANGEMAERSK: BULLISH CALLXPO: HEDGE FUNDS ENGINEF: CHOPPING BOARDWTC: NEW RECORDZIM: BALANCE SHEET IN CHECKZIM: SURGING
Not to be dissuaded from its car-carrier ordering spree, Wallenius Wilhelmsen has exercised options for two more 11,700 ceu Shaper-class pure car and truck carriers (PCTCs), bringing its orderbook to 14, with options on another two.
The Norwegian firm also announced in September it would be ‘upsizing’ four PCTCs in its orderbook to 11,700 ceu.
The series will deliver from late 2027, with the latest two newbuilds slated for 2028.
The latest orders represent a vote of confidence by Wallenius Wilhelmsen in the car industry’s growth prospects, despite geopolitical signals of an increasingly hostile geopolitical posture against China, the world’s biggest exporter, from the US and EU.
Last week, Reuters reported that the Chinese government had told automakers BYD, SAIC and Geely to pause planned investments in Europe, such as factories, in retaliation for tariffs of up 45.3%, set by the European Commission at the beginning of October.
And newly elected US president-elect Donald Trump has pledged to bring in tariffs of 60%-100% on Chinese goods, which would include cars. While Chinese car brands like BYD do not sell to Americans, US car marques like Buick, Lincoln and Tesla are made in China.
Mr Trump has also threatened a 200% tariff on cars imported from Mexico, saying: “We’re not going to let it happen. We’re not letting those cars come into the United States.”
However, last week Wallenius Wilhelmsen signed a five-year agreement, worth $766m, for the provision of high-and-heavy transport capacity with an unnamed manufacturer of agriculture, forestry and roadbuilding equipment.
The deal “reflects the customer’s need to secure predictable long-term ocean capacity and commitment to decarbonising their supply chain”, said Pia Synnerman, chief customer officer at Wallenius Wilhelmsen.
The 11,700 ceu Shaper-class PCTCs are substantially bigger than the largest car-carriers currently on the water, but could fall short of being the world’s largest before their delivery. That title could go to a 12,800 ceu design developed by Marine Design & Research Institute of China (MARIC), granted approval in principle from Lloyd’s Register in June.
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