Höegh Autoliners Sells Older Vessel for $60 Million in Red-Hot RoRo Market

Oslo-based Höegh Autoliners ASA has announced the sale of its vessel Höegh New York for $60.6 million, as part of its fleet optimization strategy. The 6,500 CEU vessel, built in 2005, will be delivered to its new owner within the first quarter of 2025.

“The sale of Höegh New York presents another good opportunity to further optimize the fleet, as we are getting more newbuilt vessels delivered,” said CEO Andreas Enger.

The sale comes as Höegh Autoliners, a leading global provider of RoRo transportation services, reports strong performance in August 2024. The company transported 1.2 million cbm of cargo on a prorated basis, with average prorated gross freight rates reaching a record high of $103.6 per cbm, a 7.6% increase compared to Q2 2024.

“Höegh Autoliners continue to see very good cargo support from our customers. August represents another month with record high freight rates due to the ongoing cargo repricing and our focus on optimizing the trade network and cargo mix,” said Enger.

Last month, Höegh Autoliners saw the launch of its first Aurora Class pure car and truck carrier (PCTC), Höegh Aurora, at China Merchants Heavy Industry’s yard in Jiangsu, China. This vessel is the first of 12 multi-fuel Aurora vessels being built as part of the company’s green fleet renewal program. Designed to operate on carbon-neutral ammonia, these vessels will reduce carbon emissions per car transported by up to 58% compared to the current industry average.

The company’s strong performance and strategic fleet management highlight the current strong state of the RoRo shipping market. As Höegh Autoliners continues to optimize its operations, industry observers will be watching closely to see how these moves impact the company’s future growth and market position.

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