Norwegian car carrier player Höegh Autoliners has exercised an option to buy the 2010-built Höegh Beijing, currently on a long-term charter from Norway’s Ocean Yield.
Höegh Autoliners had a purchase option on the vessel at the end of the charter period, and now that it has been declared, the effective purchase date is June 20, 2022, with a price tag of 22m.
The 4,900 ceu vessel has been on a bareboat charter with Höegh Autoliners since 2014 and will continue to operate in its deep-sea network. The Oslo-listed company operates a fleet of around 40 car carriers.
Ocean Yield said it will receive net cash proceeds after repayment of debt related to the vessel of about $12m, which will be reinvested into new vessels with long-term charters.