Höegh Autoliners ASA through its subsidiary Höegh Autoliners Shipping AS, has declared an option pursuant to a certain bareboat charter party to purchase the vessel Höegh Trapper for a purchase price of USD 53,200,000 from Ocean Yield. The average market value of the vessel estimated by three different brokers was USD 96 million by the end of Q3 and the Company is working on financing the purchase of the vessel.
Höegh Trapper was built in 2016 with a capacity of 8,500 CEU. The vessel is a sister vessel to Höegh Tracer, which the Company declared a purchase option for in August 2022.
The vessel is one of the largest and most environmentally friendly PCTCs in the world and will continue to be a part of Höegh Autoliners’ deep-sea network upon transfer of the ownership. The transaction will enable the realisation of additional value gains from the lease options, as well as reduce the cash cost and allow for better capacity cost control in an overheated charter market.
Per Øivind Rosmo, CFO of Höegh Autoliners, comments: “Höegh Trapper is the fourth bareboat chartered vessel where we declare a purchase option in 2022. By taking direct ownership of the vessel, we demonstrate our commitment to serve and build a long-term relationship with our customers based on a fleet we own and control. Bringing home Höegh Trapper means that we will have ownership of all 6 Horizon class vessels built at Xiamen Shipbuilding Industry in 2015 and 2016. These vessels are among the largest and most fuel efficient PCTCs sailing the oceans and are together with the Aurora class vessels under construction an important part of our ambition to continue to reduce our carbon intensity and our journey towards being carbon neutral by 2040”
Andreas Enger, CEO
andreas.enger@hoegh.com
+47 901 31 228
Per Øivind Rosmo, CFO
per.oivind.rosmo@hoegh.com
+47 400 39 938
Investor Relations
ir@hoegh.com
Media contact:
Camilla Knappskog, Head of Communications
camilla.knappskog@hoegh.com
+47 926 66 156
About Höegh Autoliners:
Höegh Autoliners is a leading global provider of RoRo (Roll On Roll Off) transportation services delivering cars, high and heavy and breakbulk cargoes across the world. The Company operates around 40 RoRo vessels in global trade systems and makes about 3 000 port calls each year. Our purpose is to develop innovative solutions for greener and more sustainable deep sea transportation. We are on a path to a zero emissions future and are working closely with customers and partners to achieve this. Höegh Autoliners has its head office in Oslo, Norway and employs around 375 people in its 16 offices worldwide and around 1 250 seafarers.
09 December 2022
Corruption is a widespread challenge for companies involved in world trade. It weakens democratic institutions, reduces economic development, and contributes to governmental instability.
08 January 2025
Agreement around EcoTow solution secures Höegh Autoliners the first-ever, low-carbon towage service in Australia.
09 December 2024
December 9th marks International Anti-Corruption Day, a moment to reaffirm our commitment to transparency, integrity, and accountability. This year’s theme, “Uniting with Youth Against Corruption: Shaping Tomorrow's Integrity,” recognizes the responsibility we all have in standing united with the next generation with the aim of fostering a determination to dismantle corrupt practices and establish lasting change. But it also spotlights the unique role of young people in the fight for a future built on ethical standards and fair opportunities. With 1.8 billion young people worldwide, their voice and engagement are essential to fostering societies resilient to corruption. Today’s youth must be empowered to champion integrity within their communities and globally, equipped with tools and education that cultivate values of transparency, accountability, and justice. Corruption robs young people of educational opportunities, job prospects, healthcare access, and a stable environment. And it contributes to broadening the social and environmental challenges and differences that we all have an obligation to fight.
12 November 2024
Norwegian shipping company Höegh Autoliners has joined forces with Australian green technology, energy and metals group Fortescue to call on global shipping regulators to fast-track the adoption of green ammonia as the only marine fuel that can hasten the decarbonization of the industry.
