Norway’s Höegh Autoliners has secured a new shipping contract with a major unnamed international carmaker.
The Oslo-listed outfit said the arrangement worth more than $100m is an extension of an existing deal, which has been updated to reflect the current market.
The deal will see the operator of about 40 vessels transport cars in various trade lanes for two years.
“The extension of this contract, with substantial cargo volumes in several of our core trade lines, represents another important milestone in our efforts to build a solid contract backlog and support strategically important customers,” said Andreas Enger, CEO of Höegh Autoliners.
Earlier this month, the company renewed several long-term contracts with another major international car producer by three years. In June a five-year deal was also struck for shipments of mainly electric vehicles from the US and Mexico to the Middle East.