Hoegh Autoliners exercises the option to purchase Hoegh Trapper for a price of USD 53,200,000
Hoegh Autoliners ASA through its subsidiary Hoegh Autoliners Shipping AS, has declared an option pursuant to a certain bareboat charter party to purchase the vessel Hoegh Trapper for a purchase price of USD 53,200,000 from Ocean Yield. The average market value of the vessel estimated by three different brokers was USD 96 million by the end of Q3 and the company is working on financing the purchase of the vessel.
Hoegh Trapper was built in 2016 with a capacity of 8,500 CEU. The vessel is a sister vessel to Hoegh Tracer, which the company declared a purchase option for in August 2022. The vessel is one of the largest and most environmentally friendly PCTCs in the world and will continue to be a part of Hoegh Autoliners’ deep-sea network upon transfer of the ownership. The transaction will enable the realisation of additional value gains from the lease options, as well as reduce the cash cost and allow for better capacity cost control in an overheated charter market.
Hoegh Autoliners is a leading global provider of RoRo (Roll On Roll Off) transportation services delivering cars, high and heavy and breakbulk cargoes across the world. The company operates around 40 RoRo vessels in global trade systems and makes about 3 000 port calls each year. Hoegh Autoliners has its head office in Oslo, Norway and employs around 375 people in its 16 offices worldwide and around 1 250 seafarers.
