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Höegh Autoliners lines up more car carriers at China Merchants Heavy

Norway’s Höegh Autoliners has exercised an option at China Merchants Heavy Industry to build an additional four 9,100 ceu multi-fuel and zero carbon-ready car carriers and also reserved new slots that could take its order tally to 16 ships.

The latest deal will extend the Oslo-listed company’s Aurora class newbuilding program to eight vessels, with an option for another four until the end of July 2023. However, Höegh Autoliners has also struck a deal with the yard for four more car carriers in the form of slot reservations on market terms until the end of December 2022 and the first right of refusal until the end of July 2023, with delivery in 2026 and 2027.

Höegh Autoliners said the order is on the same terms and specifications as the first four vessels, which have been reported at $98m each. The ships will be the first and largest in the pure car and truck carrier (PCTC) segment able to operate on zero-carbon ammonia. The Aurora class will also have DNV’s methanol-ready notation.

The company will finance the vessels by a combination of equity and debt and is said to be exploring several sources for credit, with financing expected to conclude well ahead of the delivery of the vessels, starting in the second half of 2024. 

Adis Ajdin

Adis is an experienced news reporter with a background 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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