Hoegh Autoliners Make Big Sales On RORO Vessel

Roll on Roll Off shipowner said it has reached an agreement to sell the 6,500 ceu, 2007-built, Hoegh Bangkok for $63 million to an undisclosed buyer.

The company said the sale of Hoegh Bangkok was in line with its fleet renewal plans and anticipation of the first of its Aurora class newbuildings in July next year.

Meanwhile Hoegh Autoliners has taken up a purchase option on 6,500 ceu, 2014-built, Hoegh Jacksonville from lessor Ocean Yield.

The company said the average market value of the vessel as of 30 September would be $84 million. The values of car carriers have soared on the back of record charter rates and a shortage of capacity.

“The transactions represent good opportunities for us to optimise our asset portfolio in preparation for the first Aurora deliveries.

” We will retain our focus on serving core contract customers while seeking opportunities to optimize our long-term fleet composition and capital structure,” said Hoegh Autoliners CEO Andreas Enger.

The company said the Hoegh Jacksonville was one of its best performing vessels in terms of emissions.

Following the transaction Hoegh Autoliners will have a fleet of 36 vessels – 31 owned, and five under lease.