Wallenius Wilhelmsen inks $1bn cargo contracts

Norway’s car carrier operator Wallenius Wilhelmsen has entered into two three-year contracts with a leading equipment manufacturer for shipping and logistics services.

Wallenius Wilhelmsen said the total contract value is in excess of US$1bn over the three-year contract period.

The shipping element of the contract is valued at about US$950m, with rates at similar levels as the previous three-year contract.

The estimated contract value for the logistics contract is close to US$100m over the same period, as the company disclosed in its statement.

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