HÖEGH AUTOLINERS has secured two long-term contracts with two major international car producers, just days after the fourth of its innovative Aurora-class PCTCs set sail on its inaugural voyage.
Höegh said the first contract extends until April 2029 while the second is for two years, with an option to extend for another two years, and both contracts reflect current market rates and terms. Shipments under the new agreements will commence in January and May 2025.
Meanwhile, earlier last week the company’s fourth Aurora newbuild, Höegh Sunlight, was named in “a grand ceremony” at the Taicang Haitong Auto Terminal. It commenced its LNG-powered maiden voyage to Europe, fully loaded with Chinese cargo, shortly after celebratory fireworks.
Höegh Sunlight follows the December-delivered Höegh Australis and earlier Höegh Aurora and Höegh Borealis.
In its December 2024 trading update, also release last week, Höegh Autoliners transported 1.2 million cbm of cargo on prorated basis. Transported cargo in the last three months (October – December) was 3.5 million cbm.
Average prorated gross freight rate in December 2024 was USD 96.8 per cbm (-4.6% compared to average gross rate in Q3 2024). Average prorated gross freight rate in the last three months was USD 100.4 per cbm.
Average prorated net freight rate in December 2024 was USD 84.1 per cbm (-3.0% compared to average net rate in Q3 2024). Average prorated net freight rate last three months was USD 86.7 per cbm.
HH/BB share of prorated volumes carried in December was 25%. Last three months the prorated HH (high & heavy)/BB (breakbulk) share was 24%.
CEO Andreas Enger said December activity level was high, with the company benefitting from having two of the newbuilds, Höegh Aurora and Höegh Borealis, in operation.
Ove Dines Høegh, a visionary leader and key architect of the Höegh legacy, passed away peacefully on 11 January 2025, at the age of 88, the company noted.
“Ove was the son of company founder Leif Høegh and the father of the current Chair of Höegh Autoliners, Leif O. Høegh. Over seven decades, Ove was part of leading the Höegh family companies, and he fostered a culture of innovation, entrepreneurship, and integrity that remains with us today.
“It was under his leadership, that Leif Høegh & Co. expanded to the vehicle transport segment in 1970 through the Höegh Ugland Auto Liners (HUAL) joint venture – our predecessor and the basis for developing our company into a world-leading RoRo operator.
“Ove’s vision and leadership helped shape the company’s strategy, paving the way for innovations in maritime operations and environmental sustainability. Years after he stepped back from daily involvement in shipping activities, Leif Höegh & Co., in March 2000, acquired the remaining 50% of HUAL and later renamed it Höegh Autoliners.
“We will forever be thankful for Ove’s countless contributions, strong sense of responsibility, and work ethic. And while his passing deeply saddens us, we also commemorate his remarkable life and his lasting impact on our business and culture.”
