Some of its ships were put into cold lay-up due to the COVID-19 pandemic.

In an official news release, Sweden/Norway-based based shipping, and logistics company Wallenius Wilhelmsen has confirmed that it is reinstating some of its ships which it had previously placed on cold lay-up due to the COVID-19 pandemic.

Altogether, 16 of its vessels were placed on cold lay-up. Of these 9 are being reinstated. This development comes as the global shipping market starts to rebound in 2021. Already, a trend of reduced capacity has been witnessed, accompanied by rising charter rates.

These 9 vessels would be reinstated during the first quarter of this year. Commenting on this development, Wallenius Wilhelmsen CEO, Craig Jasienski stated “Flexibility in the fleet has been a core strategic choice since the inception of Wallenius Wilhelmsen, ensuring our ability to adjust the fleet to our needs and shifting market demand.”