Höegh Autoliners takes $53.2m option to buy car carrier from Ocean Yield

Norway’s Höegh Autoliners has declared an option to purchase the 2016-built 8,500 ceu PCTC Höegh Tracer, currently on bareboat charter from Ocean Yield, for $53.2m.

Höegh says that financing options are currently being evaluated, and ownership of the vessels will be transferred during the first quarter of 2023. The vessel was valued at around $82m by brokers, and sister vessel Höegh Trapper is on a similar lease from Ocean Yield with an option to purchase available to exercise in December, for delivery in June 2023.

Andreas Enger, CEO of Hoegh Autoliners, commented: “The Höegh Tracer has served us well and sailed the Oceans transporting our customers’ important cargo since she was built in 2016. As one of six Horizon class vessels in our fleet, she is one of the largest and most environmentally friendly PCTC out there and therefore very important for our ambitious path to a zero emissions future by 2040. Exercising the option for Höegh Tracer reinforces our commitment to a sustainable future for deep sea shipping and demonstrates our commitment to continue to manage our capacity cost. “