Brief: Wallenius Wilhelmsen Q1 Shipping Volumes Down 10% QoQ Due To Red Sea, Congestion

Wallenius Wilhelmsen ASA

08/05/2024 06:23

May 8 (Reuters) - Wallenius Wilhelmsen ASA  WAWI.OL :
    * SHIPPING VOLUMES AND AVAILABLE CAPACITY WERE NEGATIVELY
IMPACTED
BY REROUTING AWAY FROM RED SEA
    * IN ADDITION, BRIDGE COLLAPSE IN BALTIMORE IMPACTED
OPERATIONS ON
US EAST COAST
    * DESPITE THIS, AND THANKS TO OUR TEAMS' EXTRAORDINARY
EFFORTS, WE
DELIVERED ANOTHER STRONG QUARTER
    * IN 2024, A SUBSTANTIAL PORTION OF OUR CONTRACTS ARE DUE
FOR
RENEWAL
    * EXPECTS 2024 TO BE ANOTHER STRONG YEAR, SOMEWHAT BETTER
THAN
2023
    * BALTIMORE SITUATION  WILL HAVE SOME NEGATIVE  EFFECTS IN
Q2 AND
POSSIBLY LONGER
    * SHIPPING VOLUMES DECREASED BY 10% QOQ MAINLY DUE TO RED
SEA
SITUATION, BUT ALSO  ON INCREASED CONGESTION IN Q1.
    * ON RED SEA: RE-ROUTING IS IMPACTING  TONNAGE CAPACITY
NEGATIVELY
BY ABOUT 5% ON A RUN-RATE BASIS
    * DURING Q1, SOME 8% OF AVAILABLE TRADING DAYS WERE CAUGHT
UP IN
CONGESTION.
    * WE, FOR NOW, SEE THE RED SEA SITUATION AS THE NEW NORMAL.
    * RORO SHIPPING MARKET TO BE TIGHTER IN 2024 DUE TO GROWTH
IN AUTO
EXPORTS OUT OF ASIA, REDUCED AVAILABILITY DUE TO  RED SEA

Source text for Eikon:  ID:nObikXwVYa 
Further company coverage:  WAWI.OL 

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