Norwegian car carrier operator Wallenius Wilhelmsen is set to reactivate the last three vessels it placed on cold standby last year due to the slowdown in the car carrier market caused by the Covid-19 virus pandemic.
The reactivation will take place during the third quarter, and Wallenius Wilhelmsen says the intention is for the three vessels to replace capacity obtained through short-term charters.
Wallenius Wilhelmsen had already taken the decision to reactivate 12 of the 15 vessels placed on standby last year, nine of which are already in service and three will start sailing during the second quarter.
“As we have already said, we expect the overall balance between supply and demand in the sector to improve in the medium term. Taking into account the time required for the reactivation of the vessels, we believe that the time is right to reactivate the remaining vessels that have been laid up due to the pandemic. Predicting the potential market impact of the ongoing pandemic remains a challenge, however, we have the flexibility in our operations to adjust the fleet for any changes in market conditions,” said Torbjørn Wist, acting CEO of Wallenius Wilhelmsen.
