Höegh Autoliners at a single stroke one ship sale and one purchase

Norway’s roro Höegh Autoliners revealed at a single stroke one ship sale and one purchase. The Oslo-listed owner announced on Tuesday it has agreed to sale the 6,000-ceu Höegh Chiba for $61m.

In another separate deal, Höegh has declared an option to purchase the vessel Höegh Jeddah from Ocean Yield for a purchase price of $43.2m.

As far as the sale, the company has reached an agreement through its subsidiary Höegh Autoliners Shipping to offload its ship Höegh Chiba, 2006-built in DSME shipyard.

She is sailing under the NIS flag and is expected to be debt-free at the time of delivery. The vessel will be delivered to the new owner by August 2024.

The owner has also decided to declare an option to purchase the vessel Höegh Jeddah. As it is estimated, the average market value of the vessel is $91m (per 31 December 2023).

Höegh Jeddah was built in 2014 with a capacity of 6,500 ceu. The transaction will be completed in September 2024, and the company intends to finance the purchase price fully by mortgage debt through its fleet credit facility.

Andreas Enger, chief executive of Höegh, noted: “The transactions represent good opportunities for us to further optimize our asset portfolio in preparation of the first Aurora delivery in August.”