Hoegh Autoliners has sold another ship, though the sale price could be the subject of some controversy.
The Oslo-listed car carrier owner said on Tuesday that it was continuing its fleet renewal efforts by selling the 6,000-ceu Hoegh Kobe (built 2006) for $59m amid sharply diverging valuations.
A buyer was not disclosed. It is expected to be delivered in July.
“As the date of the delivery of the first newbuilding gets closer, the sale of Hoegh Kobe presents another good opportunity to optimise the fleet,” chief executive Andreas Enger said.
The sale follows a deal to sell the 6,000-ceu Hoegh Chiba (built 2007) for $61m to Wallenius Lines.
Then, Veson Nautical’s ro-ro analyst Andrea De Luca said “eyebrows were raised in some quarters” over the sale price, which VesselsValue estimated at $72.4m, and that it was likely a better deal for the buyers.
He argued charter market earnings were high enough that a higher sale price was warranted.
This time around, VesselsValue estimated the Hoegh Kobe to be worth $74.5m, while MSI Horizon gave a range between $58.2m and $69.6m, the same range it has for the Hoegh Chiba.
The sale leaves Hoegh Autoliners with 30 vessels, with 12 LNG capable and methanol and ammonia ready Aurora class vessels on order.
The first two of those 12 vessels are due for delivery this year, with the 9,100-ceu Hoegh Aurora (built 2024) due to hit the water in July and the 9,100-ceu Hoegh Borealis (built 2024) in December.
In midday trading in Oslo, Hoegh Autoliners shares rose to NOK 95.45, NOK 3.25 from the previous close and NOK 1.35 from the open.
