Höegh Autoliners Exercises Option to Buy 2099-built RoRo

Höegh Autoliners announced it has exercised its option to purchase Höegh St. Petersburg for $29,300,000, well below the $70 million average market value estimated by three different brokers for the end of Q3.

“Höegh Autoliners is again demonstrating its commitment to serve and build a long-term relationship with our customers based on a fleet we own and control. All our deep-sea operated vessels are owned (29 vessels) or on charters with purchase options (five vessels). This gives us limited exposure to the currently tight and expensive Time-Charter market,” said Höegh Autoliners’ CFO Per Øivind Rosmo.

“Höegh St. Petersburg has done a very good job for us and our customers since we built her in 2009 and is very well suited for our established and balanced trade systems from Asia to Europe and US with a return to Asia via South Africa and Australia or the Middle East. Together with the Horizon class vessels with a capacity of 8,500 CEU and the Aurora class vessels under construction with a capacity of 9,100 CEU, the series of 7,850 CEU vessels built at Daewoo represents one of the largest and most environmentally friendly PCTC fleets. These large and fuel-efficient vessels are an important part of our ambition to continue to reduce our carbon intensity and the journey towards being carbon neutral by 2040.”

Höegh St. Petersburg
Built: 2009
Cargo Capacity: 7,850 car equivalent units
Max Door Width: 15.2 m
Max Deck Height: 5 m
Max Ramp Capacity: 150 mt