Höegh Autoliners ASA (Höegh Autoliners), through its subsidiary Höegh Autoliners Shipping AS, has reached an agreement for the sale of the owned vessel Höegh Chiba (IMO9303558) for a price of USD 61 million.

Höegh Autoliners ASA - Sale of Höegh Chiba and purchase of Höegh Jeddah

Höegh Chiba (6,000 CEU) was built at DSME shipyard in 2006. 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 Company, through its subsidiary Höegh Autoliners Shipping AS, has also declared an option to purchase the vessel Höegh Jeddah (IMO 9673381) from Ocean Yield for a purchase price of USD 43.2 million. The average market value of the vessel is USD 91 million (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.

"The transactions represent good opportunities for us to further optimize our asset portfolio in preparation of the first Aurora delivery in August", says CEO Andreas Enger.