Höegh Autoliners has reached an agreement for the sale of the vessel Höegh Bangkok and has declared an option to purchase the vessel Höegh Jacksonville from Ocean Yield.
Höegh Bangkok, which was constructed by Höegh at the Uljanik shipyard in 2007 and has a capacity of 6,500 ceu, has been sold for USD63 million.
Höegh Jacksonville, meanwhile, was built in 2014 and has been purchased for USD43.22 million. According to the ro-ro carrier, as of September 30, the average market value of the vessel was USD84 million.
“The purchase of Höegh Jacksonville reconfirms our strategy of building long-term commitments with our customers based on a modern fleet which we own and control. The transaction is cash neutral, enables the realisation of value gains from our lease options, and will allow for better capacity cost control,” said ceo Andreas Enger.
The sale of Höegh Bangkok is in line with the company’s strategy to renew its fleet in anticipation of the first Aurora class vessel being delivered in July 2024. The transaction is made possible because the time to delivery of the first Aurora vessels is sufficiently short to build capacity bridges to maintain its service to contract customers.
“The transactions represent good opportunities for us to optimise our asset portfolio in preparation for the first Aurora deliveries. We will retain our focus on serving core contract customers while seeking opportunities to optimise our long-term fleet composition and capital structure,” Enger added.
Following the transactions, Höegh Autoliners will continue to operate a fleet of 36 vessels, consisting of 31 owned vessels and five under long-term leases.
