Oslo-listed Hoegh Autoliners has made extra money from offloading older automotive carriers in sturdy markets.

The corporate stated the 4,900-ceu Hoegh Maputo and Hoegh Singapore (each constructed 2011) are owned on a leaseback foundation by Pioneer Leasing of Norway.

An unnamed purchaser has agreed to purchase the duo, leading to a acquire of $19m for Hoegh Autoliners, resulting from a profit-share settlement with Pioneer.

VesselsValue assesses the ships as price round $65m mixed.

The 2 ships have been operated by Hoegh Autoliners since supply and are at present bareboated in.

In November, the corporate made an $8m revenue from promoting the 4,347-ceu Hoegh Masan (constructed 1998), its first disposal for a 12 months.

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Brokers say this vessel has gone to Doriko of South Korea.

In the meantime, the shipowner has moved to tie up two different veteran automotive carriers for longer intervals.

The 5,400-ceu Hoegh Brasilia and Hoegh Sydney (each constructed 2007) have had charters prolonged by Chijin Transport.

Phrases will run for one more two and three years, respectively, from April and August 2022.

Extra flexibility

“The prolongation of this contract provides Hoegh Autoliners the flexibleness wanted to serve prospects in a decent provide/demand market,” the corporate stated.

The shipowner has 12 new dual-fuel Aurora-class newbuildings coming from China in 2024. The most important automotive carriers on this planet will improve carrying capability additional.

In a convention name earlier in February, the corporate had stated it should try to tread a fantastic line between fleet growth and paying an excessive amount of for chartered-in capability.

Chief monetary officer Per Oivind Rosmo stated: “The excellent news out there is that we’re now seeing charges supporting the prices within the tonnage market.”

The group operates a fleet of round 40 vessels, of which 27 are owned and 13 are chartered in.