OSLO, March 23 (Reuters)–Shipping company Wallenius Wilhelmsen, which delivers cars and trucks and also various other automobiles from manufacturing facilities to markets, has actually reduced its reward to absolutely no and also will certainly mothball approximately 10 vessels as need dove amidst the coronavirus episode, it claimed on Monday.

The firm likewise intends to junk approximately 4 older vessels, it included.

Oslo- noted Wallenius Wilhelmsen, which runs around 125 vessels, had actually initially recommended to pay returns of approximately $60 million, split right into 2 tranches.

“The world has changed dramatically over the past weeks, and we are all feeling the effect,” Chief Executive Craig Jasienski claimed in a declaration, including that the effect can last for a very long time.

“Our strong focus on synergies and cost efficiency over the past years have put us in a solid liquidity position, but we are taking early precautionary steps now, to preserve cash,” Jasienski claimed. (Reporting by Terje Solsvik, modifying by Gwladys Fouche)

( c) Copyright Thomson Reuters 2019.