Wallenius Wilhelmsen has added $195m to its backlog, kicking off a busy second half for contract renewals.

The world’s largest car carrier operator said on Thursday that the deal with an unspecified “leading industrial equipment manufacturer” would last for three years, with a mutual two-year extension option.

“It is yet another example of how we are continuing to renew and strengthen our existing partnerships,” said chief customer officer Pia Synnerman.

“This updated shipping agreement with an established long-term customer is based upon multiple scheduled trade routes and secures the ocean capacity required to help deliver on their market ambitions.”

The company said the deal is in line with market rates and the $195m figure is based on expected volumes.

As it stands, a 6,500-ceu car carrier on a six to 12-month time charter is expected to earn $105,000 per day, according to Clarksons.

That figure is a tick down from earlier this year, but still considerably higher than the vessels were earning in years past.

Oslo-listed Wallenius Wilhelmsen said during its first-quarter earnings call that its ships were sold out, thanks to lower volumes due to reroutings around the Cape of Good Hope to avoid Houthi attacks.

The company is set to renew 46% of its contracted volumes this year, most in the second half.

So far in 2024, it has secured roughly $2.8bn in new deals.