EuropeOperations

Höegh Autoliners snaps up leased car carrier for $53.2m

Norway’s Höegh Autoliners has declared an option to purchase the 2016-built car carrier Höegh Trapper currently on bareboat charter from Ocean Yield, for $53.2m.

The 8,500 ceu vessel is a sister vessel to Höegh Tracer, which the company opted to buy back in August at the same price and its fourth bareboat chartered vessel picked up this year.

The Oslo-based firm said three different brokers estimated the ship’s average market value at $96m at the end of the third quarter.

The transaction will enable the realisation of additional value gains from the lease options, as well as reduce the cash cost and allow for better capacity cost control in an overheated charter market, the company added.

Per Øivind Rosmo, CFO of Höegh Autoliners commented: “By taking direct ownership of the vessel, we demonstrate our commitment to serve and build a long-term relationship with our customers based on a fleet we own and control. Bringing home Höegh Trapper means that we will have ownership of all 6 Horizon class vessels built at Xiamen Shipbuilding Industry in 2015 and 2016.”

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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