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Höegh Autoliners declares purchase option on Ocean Yield car carrier

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.

Adis Ajdin

Adis is an experienced news reporter with a backgroud in finance, media and education. He has written across the spectrum of offshore energy and ocean industries for many years and is a member of International Federation of Journalists. Previously he had written for Navingo media group titles including Offshore Energy, Subsea World News and Marine Energy.
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