Wellard Limited
WLD.AX
Australian Securities Exchange0.02
AUD
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Wellard Limited
WLD.AX
(Australian Securities Exchange)
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0.02
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div
yld
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ROIC.AI
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- Wellard Limited Wellard Limited (ASX:WLD) is an Australia-based agribusiness company that supplies livestock vessels and livestock internationally, primarily through chartering purpose-built medium- and large-sized livestock carriers; livestock transportation services for third-party cargo; and trading activities involving the purchase of livestock from various sources for export to international markets, including cattle and sheep. The company operates in two main segments, Chartering, which generates the majority of revenue from global seaborne livestock transportation, and Other, encompassing corporate services such as human resources, finance, IT, legal support, and board functions. Wellard holds export licenses to trade and ship live cattle and sheep on its own account, with key vessels including the MV Ocean Drover, a large livestock carrier with capacity for 20,000 cattle or 75,000 sheep; it serves markets in Australia, Singapore, Brazil, and other international destinations. Founded in 1950, Wellard Limited is headquartered in Fremantle, Western Australia. In recent developments, Wellard has undergone a strategic fleet reduction, selling multiple vessels including the MV Ocean Shearer in prior years for debt reduction and right-sizing operations to three vessels by 2023; it completed the sale and leaseback of the MV Ocean Swagman to Heytesbury Singapore Pte Ltd; deregistered its New Zealand subsidiary Wellard NZ Ltd in July 2024; assumed full control of the MV Ocean Drover following a financing dispute resolution in September 2024; and announced in January 2025 the agreement to sell its final vessel, the MV Ocean Drover, to Turkish firm Göktaşlar for approximately US$81.2 million, pending shareholder approval, with delivery targeted for July 2025 after fulfilling remaining charters through June 2025. These divestitures mark the end of Wellard's 46-year history as a livestock shipping operator, enabling debt reduction, cash generation for shareholder returns at $0.15 per share from the Ocean Drover proceeds, and a pivot to capital stewardship as a public unlisted entity post-ASX delisting; the company is also pursuing potential compensation from a resolved class-action lawsuit related to prior live export claims. Amid Australia's impending live sheep export ban by May 2028, these changes reflect adaptations to regulatory pressures, market volatility, and declining live export viability.