Wallenius Wilhelmsen, one of the largest shipping companies, has raised approximately $300 million (NOK2.88bn) through the issuance of new shares. This investment allows the company to add four large dual-fuel LNG tankers to its fleet. The company also has options to purchase eight more tankers in the future.
Details of Financing and Future Plans
The company, which is listed on the Oslo Stock Exchange in Norway, conducted a private placement on Tuesday, issuing 17.145 million shares at a price of 168 Norwegian kroner per share. The proceeds from this offering, along with financing through debt, will be used to fund the expansion program for building new ships.
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Wallenius Wilhelmsen is currently in advanced negotiations with shipyards to construct four large dual-fuel LNG tankers, which are expected to be delivered in 2030. These negotiations also include options for eight additional tankers under similar terms, with deliveries scheduled to occur periodically starting in 2031. So far, no information has been released regarding the shipyards, the capacity of the vessels, or the contract prices, and the shipbuilding contracts have not yet been signed.
Expansion of Shipbuilding Program
If all eight options for additional vessels are exercised, Wallenius Wilhelmsen's shipbuilding program will reach 26 vessels, including options, with deliveries taking place from the third quarter of 2026 to 2032. This part of the program will help increase fuel diversity in the company's fleet and will specifically focus on dual-fuel LNG technology.
The company is also pursuing its existing projects. Wallenius Wilhelmsen has recently launched its Shaper-class program at the China Merchants Jinling shipyard, where the company has arranged an order for 14 vessels. Of these, eight units have been increased to 11,700 CEU. These vessels are designed based on dual-fuel methanol technology and also have the capability to use ammonia.
Currently, Wallenius Wilhelmsen operates approximately 130 vessels across 15 different trade routes. The company is seeking to improve its environmental performance and increase the efficiency of its fleet, and these new programs appear to be a step towards achieving these goals.
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