Seven vessels to be reflagged in the Wallenius fleet

Wallenius has decided to reflag seven vessels from Sweden to Singapore. The process begins this autumn with three vessels.

Swedish crew will be replaced to other vessels in the Swedish flagged fleet. We will fulfill our current agreements with TAP employees, but will not renew their contracts.  Surplus Swedish officers will be offered work under the Internationalisation Agreement (INT Agreement) in the Singapore-flagged fleet.

The reason for reflagging is the need to reduce the running costs for the vessels as well as for the administrative costs in the land organization where we have identified a redundancy of 10 people.

Date: 2010-06-16