Höegh Autoliners, through its subsidiary Höegh Autoliners Shipping, has exercised an option to purchase Höegh Tracer for USD53.2 million from Ocean Yield.

Hoegh Tracer in Newcastle Port_August2020

The average market value of the vessel estimated by three different brokers was USD82 million by the end of Q2 and different financing options for the vessel are being evaluated.

Höegh Tracer was built in 2016 with a capacity of 8,500 CEU. The vessel has been on bareboat charter to Höegh Autoliners upon delivery from yard.

The ownership of the vessel will be transferred to the company during Q1 2023, and the vessel will continue to serve in Höegh Autoliners’ deepsea network.

One of the sister vessels to Höegh Tracer, Höegh Trapper, is on a similar lease from Ocean Yield. Höegh Autoliners has the option to purchase this vessel with exercise date in December this year for delivery in June 2023. A decision on whether to exercise also this option will be taken closer to the exercise date.