Stock photo via Pixabay
Norwegian roll-on/roll-off shipping company Höegh Autoliners ASA has recently reached an agreement for the sale of the vessel Höegh Bangkok and declared an option to purchase the vessel Höegh Jacksonville from Ocean Yield.
Höegh Bangkok, constructed by Höegh at the Uljanik shipyard in 2007, has a capacity of 6500 CEU and is sailing under the NIS flag. The vessel will be sold for a price of USD 63 million.
In addition, Höegh Autoliners has exercised its option to purchase the vessel Höegh Jacksonville from Ocean Yield for USD 43.22 million. Höegh Jacksonville, built in 2014 with a capacity of 6,500 CEU, will be financed through mortgage debt using the company’s fleet credit facility.
According to CEO Andreas Enger, the acquisition of Höegh Jacksonville aligns with the company’s strategy of building long-term commitments with customers based on a modern fleet owned and controlled by Höegh Autoliners.
“The transaction is cash neutral, enables the realisation of value gains from our lease options, and will allow for better capacity cost control,” says Enger.
The sale of Höegh Bangkok comes ahead the delivery of its first Aurora class vessel in July 2024. The company said the sale will enhance its cash balance with delivery to its new owner expected by the end of 2023.
Following these transactions, Höegh Autoliners will operate a fleet of 36 vessels, consisting of 31 owned vessels and 5 under long-term BB and TC leases. The company plans to expand its fleet with four new multi-fueled Aurora-class vessels between July 2024 and March 2025, adding 36,400 CEU of capacity. Another four Aurora vessels, with an additional 36,400 CEU of capacity, are expected to join the fleet by mid-2026.
The Auroras will be the first in the pure car and truck (PCTC) segment to receive DNV’s ammonia and methanol-ready notations with the main engine provided by MAN and the bridge system supplied by Kongsberg Maritime.
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