Wallenius Wilhelmsen will reactivate up to nine of its 16 vessels currently in cold layup during the first quarter of 2021.
At the onset of the Covid-19 pandemic Wallenius Wilhelmsen made the decision to recycle and lay up vessels to preserve cash and reduce costs, as well as cancelling dividends.
Wallenius Wilhelmsen said that whilst it maintains its cautious volume outlook, a scarcity of capacity and increasing rates in the time charter market make the reactivation of vessels in layup a more cost competitive option.
The reactivated vessels will replace capacity currently sourced through short-term charters. The decision follows the introduction of Tannhauser in the fourth quarter of 2020, which HLPFI reported on here. Tannhauser is the third vessel in the carrier’s Hero series; a fourth is under construction and is scheduled for delivery in the second quarter of 2021.