Norwegian-based Roll-on Roll-off provider, Hoegh Autoliners, has acquired the “HOEGH BERLIN,” one of its bareboat chartered vessels. This marks the fifth such deal for the company in less than a year.
On March 1st, ownership of the vessel changed hands, with Hoegh Autoliners ASA terminating the bareboat charter agreement and purchasing the ship for $34.25 million. Hoegh exercised its option to buy back the vessel.
Built in 2005 by Daewoo Shipbuilding & Marine Engineering (DSME), the Hoegh Berlin has a capacity of 7,850 CEU. It was sold in 2009 and subsequently chartered back to Hoegh Autoliners under a bareboat charter agreement.
The HOEGH BERLIN is the fifth vessel purchased by Hoegh Autoliners in less than a year, following the HOEGH BEIJING, HOEGH TRACER, HOEGH TRAPPER, and HOEGH ST. PETERSBURG.
Hoegh Autoliners has announced that it will register the newly acquired vessel in Norway, bringing the company’s fleet of purchased vessels to 31, 28 of which are registered in Norway.
By purchasing the vessel instead of operating it on a charter, Hoegh will reduce the long-term cash expense for the vessel and realize additional value gains owing to their ownership of the vessel.
The opinions expressed herein are the author’s and not necessarily those of News2Sea.
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