Höegh Autoliners ASA - Sale of HÖEGH CHIBA and purchase of HÖEGH JEDDAH

Ro-roHöegh Autoliners ASA, through its subsidiary Höegh Autoliners Shipping AS, has reached an agreement for the sale of the owned vessel HÖEGH CHIBA for a price of USD 61 million. The company has also declared an option to purchase the vessel HÖEGH JEDDAH from Ocean Yield for a purchase price of USD 43.2 million.

HÖEGH CHIBA (6,000 CEU) was built at DSME shipyard in 2006. She is sailing under the NIS flag and is expected to be debt-free at the time of delivery. The vessel will be delivered to the new owner by August 2024.

The average market value of HÖEGH JEDDAH is USD 91 million (per 31 December 2023). HÖEGH JEDDAH was built in 2014 with a capacity of 6,500 CEU. The transaction will be completed in September 2024, and the company intends to finance the purchase price fully by mortgage debt through its fleet credit facility.

"The transactions represent good opportunities for us to further optimize our asset portfolio in preparation of the first Aurora delivery in August", says CEO Andreas Enger.

Feb 28 2024