Wallenius Wilhelmsen reported robust performance figures in its second quarter 2023 results, yet the ro-ro shipping specialist noted that congestion at key ports remains a challenge.
The company reported USD477 million in EBITDA and USD396 million in operational cash flow. Lasse Kristoffersen, ceo at Wallenius Wilhelmsen, said: “Financially, commercially and operationally, it was a good quarter. Cash generation is solid providing a foundation for our business going forward.”
Its shipping business segment achieved an all-time high EBITDA margin, driven by improved volumes and voyage efficiency across multiple routes, “in an environment still characterised by congestion and supply chain constraints”, Kristoffersen noted.
He explained that waiting times at key ports remains a challenge. In Australia, biosecurity clearance processes are one contributing factor, while the company also encountered congestion on the US West Coast, Canada and in the Panama Canal. Kristoffersen said that the company is stretched on capacity and added that long-standing customers are renewing contracts at higher rates ensuring predictability.
The second quarter concluded with Wallenius Wilhelmsen signing a letter of intent for four methanol-capable and ammonia-ready ro-ro vessels, with options for an additional eight vessels. The four 9,350 ceu vessels – to be named the Shaper class – will be delivered from mid-2026 onwards.
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