Norwegian car carrier operator Wallenius Wilhelmsen has decided to reactivate another three vessels that are currently in cold layup.
The three vessels will be reactived in June and July and they will replace capacity sourced through short-term charters.
In January, the company decided to reactivate up to nine of the 15 vessels placed in layup last spring. According to the company, the nine vessels are now in the process of being reactivated.
Wallenius Wilhelmsen reckons scarcity of capacity and rising rates in the time charter market continue to make reactivation of vessels in layup a more cost-competitive option and it will consider the reactivation of the remaining four vessels in layup based on market developments in the first half of this year.
“As part of our operations we have the ability to adjust the fleet to our needs and changing market conditions. While it remains challenging to predict the potential market impact from virus intensity in parts of the world, the overall industry supply-demand balance is expected to improve in the mid-term due to overall global fleet reduction, low order book and a rebound in volumes during 2021,” said Craig Jasienski, CEO of Wallenius Wilhelmsen.