Höegh Autoliners renews long-term transport deals

Norwegian car carrier player Höegh Autoliners has renewed several long-term contracts with a major international car producer for transport of cars in various trade lanes.

The company said the duration of the contracts is three years and that it had already started to ship cargo under some of the contracts.

“The customer aligns with our decarbonization goals, and we have strategic discussions with them on collaborating to reduce the carbon footprint associated with transporting their products,” stated Andreas Enger, CEO of Höegh Autoliners.

Höegh Autoliners now has two Aurora-class vessels in operation with ten more set to enter the fleet in the next two to three which will improve the company’s environmental goals.

In recent company news, Italian shipping magnate Emanuele Grimaldi increased his shareholding in the Höegh Autoliners in September.

Grimaldi owns about 10% of the Oslo-based company making him the second-largest shareholder in the operator of some 40 vessels, after the Höegh family. The head of the Grimaldi Group first bought into Höegh Autoliners in late April this year, taking a 5.12% stake.