Wallenius Wilhelmsen Reports 'Softening' Volumes

(Europe) 2019 Adjusted EBITDA of US$837 Million

Breakbulk shipping line Wallenius Wilhelmsen has announced positive results for the fourth quarter, despite an 8 percent decline in ocean volumes year-on-year.

The firm reported adjusted EBITDA of US$837 million for the year, boosted by profit US$194 million in the fourth quarter. The firm, however, noted volumes were down due to a change in priorites as it chose "not to renew contracts or carry cargo" at unprofitable rate levels.

“We continue to manage what we can control, have attracted new business, retained what we wanted and chosen not to renew some business at unviable rate levels. In the face of softening volumes, we have ensured that we have the flexibility to adjust our fleet, to continue to serve our clients’ needs and deliver a solid financial result,” said Craig Jasienski, CEO of Wallenius Wilhelmsen.

Headquartered in Oslo, Norway, Wallenius Wilhelmsen provides roll-on,roll-off shipping,  vehicle logistics, and breakbulk services worldwide. The operates around 130 vessels and a global inland distribution network, with 120 processing centres and 11 marine terminals.