Norwegian car carrier player Höegh Autoliners has reached an agreement for the sale of the Höegh Chiba and exercised an option to buy the Höegh Jeddah car carriers.
The 6,000 ceu Höegh Chiba was built at DSME shipyard in 2006. The vessel was bought for a price of $61m and is expected to be debt-free at the time of delivery. It will be delivered to the new undisclosed owner by August 2024.
The company also declared an option to purchase the 2014-built, 6,500 ceu Höegh Jeddah from Ocean Yield for $43.2m. According to Höegh, the average market value of the vessel was $91m at the end of 2023.
The transaction will be completed in September 2024, and the acquisition will be financed fully by mortgage debt through a fleet credit facility.
“The transactions represent good opportunities for us to further optimize our asset portfolio in preparation for the first Aurora delivery in August,” said Höegh CEO Andreas Enger.
