Norwegian Ro-Ro shipping and logistics group Wallenius Wilhelmsen reported adjusted EBITDA of $428 million for the third quarter of 2026 on Wednesday, November 4. The figure was up 19 per cent on the previous quarter.
Total revenue rose seven per cent quarter on quarter to $1.4 billion. Net profit was $212 million, against $138 million in the second quarter. Both measures remained below the third quarter of 2025, when adjusted EBITDA was $477 million and net profit was $280 million.
The company maintained its full-year adjusted EBITDA outlook of about $1.6 billion. It said its shipping capacity is fully committed for 2026.
Adjusted EBITDA for shipping services rose to $355 million, largely because of a $47 million reduction in net fuel costs. Fuel surcharges, which are applied with a quarterly lag, offset the elevated bunker prices that had weighed on second-quarter earnings.
Volumes fell three per cent to 13.2 million cubic metres, while net freight per cubic metre increased five per cent to $64.40.
After the quarter ended, the company announced two customer awards comprising three contracts with a combined value of around $1.7 billion.
The first, with an unnamed equipment manufacturer, covers shipping and logistics and is worth more than $1 billion. The second is a shipping contract worth about $700 million with an unnamed Asian automotive manufacturer.
On October 28, the company ordered four 9,900CEU LNG dual-fuel pure car and truck carriers (PCTC) from China Merchants Jinling Shipyard, with options for eight more. Firm deliveries begin in mid-2030.
The company estimates total capital expenditure at about $1.5 billion if all options are exercised. The order is being partly funded by a $300 million private placement completed on October 6.
The second vessel in its latest series of PCTCs, Royal Tern, was delivered on October 20, following Arctic Tern in July. Twelve more vessels of the class remain on order.