Ro-ro shipping line Höegh Autoliners has signed a five-year contract with an international car manufacturer for the transport of cars in two of the shipping firm’s key trade lanes.
The contract will commence on January 1, 2025. “The signing of this long-term contract for substantial volumes both ex Asia and ex Atlantic, in two of our core trade lanes, represents another important milestone in our efforts to build a solid contract backlog and support strategically important customers,” said Andreas Enger, ceo of Höegh. “Value and volume wise, this contract is the most significant the company [Höegh] has signed in 2024.”
Details of the car manufacturer remain were not disclosed although Enger said the two companies have an existing, long-term affiliation.
Over the last two years, Höegh has signed contracts with average annualised volumes of 10.8 million cu m with an average duration of 4.3 years. The average rate for these contracts exceeds USD90 per cu m and remaining average duration of these contracts is 3.5 years. For 2025, volumes signed under long-term contracts are around 11.7 million cu m.
Last month, Höegh teamed up with Australian mining group Fortescue in a call for fast-track adoption of green ammonia.
