Wallenius Wilhelmsen expects USTR fees to remain despite suspension announcement

The world’s largest operator of pure car and truck carriers reported total revenue of $1.33bn for the third quarter of 2025, down 1.6% year-on-year and slightly below the $1.35bn reported in Q2.

Earnings before interest, taxes, depreciation and amortisation for the third quarter was $471m, in line with last year’s third quarter but marginally lower than Q2.

The company cited shifting trade patterns and geopolitical tensions, including US tariffs on vehicles and port fees, as continuing to impact the global car carrier and deep sea ro-ro markets.

Kristoffersen noted that US tariffs on imported vehicles were estimated to have added $4,000-$6,000 to the price of imported cars, while USTR port fees were expected to increase costs by up to $300 per car. Several global automakers have already warned of significant profit hits due to the fees.

Meanwhile, ongoing trade imbalances between Asia and Europe, and Asia and North America, are affecting fleet efficiency, as more vessels ballast back to Asia.

A slight decline in cargo volumes quarter-on-quarter was offset by higher freight rates, with Wallenius Wilhelmsen’s average freight rates increasing by 1% to $65.4 per cu m.

Wallenius Wilhelmsen controls a fleet of 128 pure car and truck carriers, including 81 owned vessels. During the third quarter, it agreed to sell the 1995-built, 5,800 ceu Turandot (IMO: 9070450) for further trading, with delivery scheduled to the buyer in the fourth quarter.

Kristoffersen said the company had 14 new 9,300 ceu vessels under construction in China, but no immediate plans for additional newbuilding orders.