Wallenius Wilhelmsen Withdraws Proposed Dividend for 2019


According to an article published in Reuters, Wallenius Wilhelmsen has taken decisive action in preparation for challenging COVID-19.

Key decisions

  • Wallenius Wilhelmsen ASA – proposed dividend for 2019 is withdrawn
  • Wallenius Wilhelmsen ASA – up to four vessels will be recycled, and preparations are being made to place up to 10 vessels in cold lay-up
  • Wallenius Wilhelmsen ASA – estimated cost saving for a vessel in cold lay-up is USD 3-4,000 per day depending on the length of lay-up.
  • Wallenius Wilhelmsen ASA – new buildings under construction will be further delayed due to disruption COVID-19 is causing
  • Wallenius Wilhelmsen ASA – given situation and to preserve cash until we have more certainty, management has reduced Capex spend to a minimum, prioritizing safety and maintenance critical expenditures
  • Wallenius Wilhelmsen ASA – this includes deferring some larger expansion projects in our landbased operations as well as cancellation of four remaining scrubber installations.

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