Norway’s roro Höegh Autoliners has announced more big contracts this month. The company has clinched two long-term shipping contracts with two ‘major international car producers.’
The company didn’t disclose the counterparty’s identity, or the exact amount it stands to earn from the contracts.
However, the Oslo-based company has disclosed that the contracts exceed a total value of $100m, and that the shipments under the new agreements will commence in January and May this year.
The first contract extends until April 2029 and the second deal is for two years, with an option to extend for another two years.
The company stated that “both contracts reflect the current market rates and terms.”
Andreas Enger, CEO of Höegh Autoliners, commented about the new deals: “We are pleased to be chosen again as the preferred shipping partner for these two world-leading car producers, with whom we have a long-standing relationship.
“These contracts represent another important milestone in our ongoing efforts to build a solid contract backlog and support strategically important customers.
“Höegh Autoliners has taken a leading role in the deep-sea car transportation industry in reducing our and our customers’ carbon footprint.”
The top management also confirmed that the company, with four Aurora-class vessels in full operation, expects eight more to enter the fleet over the next two to three years.
