Wilh. Wilhelmsen sees weak car/truck carrier shipping market next 2-3 years (updated)

Wilh Wilhelmsen Holding ASA

15/09/2016 10:40

(Update) 
    Sept 15 (Reuters) - Car and truck shipper Wilh. Wilhelmsen 
Asa  WWASA.OL  announces on it's capital markets day on 
Thursday:  
    * Expects fundamentals in car/truck carrier shipping market 
(PCTC) to remain weak for another 2-3 years 
    * CEO Jan Eivind Wang says capacity utilisation globally is 
around 80 pct 
    * CEO says 80 pct is not good enough and we need to operate 
around 90 pct (to have good rates) 
    * Lower utilisation is a combination of a drop in the 
market, specially in the high and heavy which are hit by the 
collapse in the commodity market leading to cut in investments 
(like in the mining industry) 
    * In addition there are more newbuildings 
    * Expects activity in mining industry to pick up gradually 
but not to the level seen at the peak in 2012   
    * CEO says WWASA has somewhat higher utilisation than the 80 
pct average globally  
    * Due to weak and rapid change in the market WWASA has 
decided to merge its companies with Wallenius, announced on 
September 5  urn:newsml:reuters.com:*:nASM0005VO    
 
Source text for Eikon:  ID:nObi8LWxya  
Further company coverage:  WWASA.OL  
 
 (Reporting By Terje Solsvik, Ole Petter Skonnord, editing by 
Camilla Knudsen) 
 ((terje.solsvik@thomsonreuters.com;))