Höegh Autoliners signs contract to build the next four zero carbon ready Aurora class vessels

Höegh Autoliners is pleased to announce that it has signed a contract to build an additional four new multi-fuel and zero carbon ready Aurora class vessels on the same terms and specifications as the first four vessels.

The Aurora class vessels have attracted great interest from credit providers and Höegh Autoliners intend to finance the vessels by a combination of equity and debt. The Company is exploring several sources for credit and expects to conclude the financing well ahead of the delivery of the vessels.

This will extend Höegh Autoliners’ Aurora class newbuilding program to eight vessels, all of which will be built by China Merchants Heavy Industry (Jiangsu) Co., Ltd. (CMHI). The Company retains its existing option for another four vessels (vessels 9-12) until the end of July 2023. The Aurora vessels will have DNV’s ammonia and methanol ready notation, with the main engine provided by MAN and the bridge system supplied by Kongsberg.

The vessels will be the first in the PCTC segment able to operate on zero-carbon fuels. Together with the capacity to carry up to 9,100 cars, the Aurora class will be the world’s largest and most environmentally friendly car carrier.

The Company has also reached an agreement with CMHI that allows Höegh Autoliners to accelerate its green fleet renewal program from 12 to 16 Aurora vessels. The additional four vessels will be in the form of slot reservations on market terms until the end of December 2022 and a first right of refusal on four slots until the end of July 2023. Höegh Autoliners retains its existing option on vessels 9-12 until the end of July 2023 and vessels 13-16 would be for 2026 and 2027 delivery, should the Company pursue this acceleration opportunity.

Andreas Enger, CEO of Höegh Autoliners, says: “We want to be the preferred green partner in deep sea shipping, and this is yet another concrete and decisive step on our path to zero. We are committed to building a more sustainable maritime industry in close collaboration with our partners and customers. Exercising the option demonstrates Höegh Autoliners’ commitment to the company’s green fleet renewal strategy and reiterates its confidence in future fuel opportunities.”

The Company expects delivery of two Aurora vessels every six months starting from the second half of 2024.

For further information, please contact:
Andreas Enger, CEO
andreas.enger@hoegh.com
+47 901 31 228

Per Øivind Rosmo, CFO
per.oivind.rosmo@hoegh.com
+47 400 39 938

Media contact:
Jakob Stig Dyvik, Head of Communications
jakob.dyvik@hoegh.com
+47 919 28 321

About China Merchants Heavy Industry
China Merchants Heavy Industry (Jiangsu) Co., Ltd. (CMHI) is a large backbone enterprise wholly owned by China Merchants Industry Holdings Co., Ltd. (CMI). Headquartered in Hong Kong, CMI has several production and manufacturing bases in the Yangtze River economic zone, Guangdong-Hong Kong-Macao Great Bay Area, Yangtze River Delta area, Bohai Bay, as well as subsidiaries and institutions abroad in Italy, Netherland, Singapore, Finland, Poland. CMI’s business mainly focuses on five aspects including repairs & conversion, marine & offshore equipment new building, specialized shipbuilding, cruise shipbuilding, new materials and special equipment.

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.