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Höegh Xiamen declared a constructive total loss

Ocean Yield-owned car carrier Höegh Xiamen has been declared a constructive total loss after a fire erupted onboard the vessel at Port of Jacksonville on June 5. The 2010-built 4,900 ceu car carrier had been on bareboat charter to Höegh Autoliners.

During firefighting operations, an explosion onboard the ship injured eight firefighters.

Ocean Yield said it expects to receive insurance proceeds of around $26m, and net cash proceeds after repayment of debt related to the vessel will be about $8m.

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Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.
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