Wallenius, Swedish Orient Line Create New Shipping Company
- Business & Finance
Wallenius and Swedish Orient Line (SOL) have established a new shipping company that will transport forestry products and other goods in a network covering the Gulf of Bothnia, the Baltic Sea and the North Sea.
Named Wallenius SOL, the new company started operations on April 12, 2019, with its main office being located in Gothenburg, Sweden.
With this investment, the two parties intend to strengthen the infrastructure for the needs of Finnish and Swedish industry.
”Together we can offer a strong mix of experience and competence, which can support a growing forest industry,” Ragnar Johansson, Managing Director of Wallenius SOL, commented.
”Wallenius has experience from industrial shipping, ship owning, ship building and ship management. SOL brings the competence of logistics from forest industry and other types of cargo in this geographical area,” Johansson added.
Wallenius SOL will have service in the region around the Baltic Sea including the Gulf of Bothnia, operating from five ports with regular calls to the continent and the UK.
The first customers to sign long-term agreements are Stora Enso and Metsä Board.
”The partnership with Wallenius SOL will enhance our opportunities to compete globally, while at the same time the new vessels will reduce environmental impact,” Knut Hansen, SVP Logistics Global, Stora Enso, said.
Specially designed vessels built to Finnish/Swedish ice class 1A Super will ensure year-round service, according to the founders. The fleet in service in the Baltic Sea will initially comprise five vessels.
Up to four new vessels are ordered and they are scheduled for delivery in 2021. These vessels will be LNG-powered and will also have other environmentally-friendly features.