Höegh Autoliners has exercised its option to purchase the ro-ro vessel Höegh St. Petersburg from Pioneer Leasing, a company controlled by Credit Agricole Corporate and Investment Bank (CA-CIB), for USD29.3 million.

Hoegh St. Petersburg (MM-200810-1)

According to Höegh the average market value of the vessel, estimated by three different brokers, was USD70 million at the end of the third quarter.

“Höegh Autoliners is again demonstrating its commitment to serve and build a long-term relationship with our customers based on a fleet we own and control. All our deepsea-operated vessels are owned (29 vessels) or on charters with purchase options (five vessels). This gives us limited exposure to the currently tight and expensive time charter market,” said Höegh Autoliners’ chief financial officer Per Øvind Rosmo.

“Höegh St. Petersburg has done a very good job for us and our customers since we built her in 2009 and is very well suited for our established and balanced trade systems from Asia to Europe and US with a return to Asia via South Africa and Australia or the Middle East.

“Together with the Horizon class vessels with a capacity of 8,500 ceu and the Aurora class vessels under construction with a capacity of 9,100 ceu, the series of 7,850 ceu vessels built at Daewoo represents one of the largest and most environmentally friendly PCTC fleets.”

Höegh St. Petersburg has a maximum door width of 15.2 m, deck height of 5 m and ramp capacity of 150 tonnes.

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