Höegh to purchase leased PCTC from Ocean Yield for $53.2m

Höegh Autoliners Delivery, a subsidiary of Norway-based Höegh Autoliners, has exercised an choice to amass the Höegh Trapper vessel from lessor Ocean Yield for $53.2m.

In keeping with the Norwegian firm, three totally different brokers estimated the vessel’s common market worth at $96m on the finish of the third quarter.

Claimed to be one of many largest and most environmentally pleasant pure automotive truck carriers (PCTCs) on the earth, Höegh Trapper will stay beneath Höegh Autoliners’ deep-sea community after the possession switch.

The 2016-constructed ship, at the moment on a bareboat constitution, has a capability of 8,500 automotive equal models (CEUs).

It’s a ‘sister vessel’ to Höegh Tracer, one other leased PCTC that the agency opted to purchase again in August.

At current, Höegh Autoliners is engaged on funding the acquisition.

The deal is claimed to assist the ‘realisation of further worth good points from the lease choices’ in addition to decreasing money prices and enabling improved capability price management in an overheated constitution market. 

Höegh Autoliners CFO Per Øivind Rosmo stated: “Höegh Trapper is the fourth bareboat chartered vessel the place we declare a purchase order choice in 2022. By taking direct possession of the vessel, we show our dedication to serve and construct a long-term relationship with our prospects primarily based on a fleet we personal and management.

“Bringing dwelling Höegh Trapper means that we’ll have possession of all six Horizon class vessels, constructed at Xiamen Shipbuilding Business in 2015 and 2016.

“These vessels are among the many largest and most fuel-efficient PCTCs crusing the oceans and are, along with the Aurora class vessels beneath development, an vital a part of our ambition to proceed to scale back our carbon depth and our journey in the direction of being carbon impartial by 2040.”

In January, China Retailers Heavy Business (Jiangsu) gained a contract from Höegh Autoliners for the development of 4 multi-fuel and zero-carbon prepared Aurora class ships.

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