Norway’s Höegh Autoliners has clinched new shipping contracts with two major international carmakers.
The Oslo-listed company said both contracts worth more than $100m and with commencement in January and May this year had been signed at rates reflecting the current market level.
The operator of about 40 vessels will transport cars in its key trade lanes until April 2029 under one contract while the other will last two years with a two-year extension option attached.
“These contracts represent another important milestone in our ongoing efforts to build a solid contract backlog and support strategically important customers,” said Andreas Enger, chief executive of Höegh Autoliners.
Last December, the company landed its “most significant” contract in 2024 value and volume wise to ship cars for five years from January 2025.