Höegh accelerates decarbonisation with new industry leading vessels

22 June 2021
Press Release

Höegh Autoliners plans to accelerate growth and boost investments in its green and digital transformation. With ambitions of investing in a series of up to 12 Aurora class multi-fuel and ammonia ready vessels designed with a 9,100 car equivalent unit capacity, the Company is considering a potential listing.

"We are investing in future technology and newbuilds to further strengthen our service offering and meet our ambitious environmental targets and those of our customers. The recent launch of the multi-fuel Aurora class design demonstrates how we can strengthen our leading position in decarbonisation and cargo efficiency. These vessels will be the largest and greenest PCTCs to be built and lead the way towards a net zero emissions future for our industry", Leif O Høegh, the Company's Chair commented.   
 
Höegh Autoliners has a proven decarbonisation record. Since 2008 the Company has achieved a reduced carbon intensity of 37 per cent across its fleet and is significantly ahead of the global IMO 2030-target of 40 per cent reduction.   
 
“We are accelerating our decarbonisation efforts to meet our net zero emissions target by 2040 and are committed to build a more sustainable maritime industry. The advancement in propulsion technology and digital solutions will significantly strengthen our capabilities to combat climate change”, Höegh Autoliners’ CEO Andreas Enger said.   
 
The Aurora class has DNV’s new “ammonia ready” notation, which makes it the first in the segment to be ready for operation on carbon neutral ammonia. We anticipate delivery of the first of the new series of multi-fuel and ammonia-ready vessels in the beginning of 2024. “This will put us in the forefront of sustainable transportation and enhanced cargo capability”, said Lise Duetoft, Höegh Autoliners’ Chief Strategy and Analytics Officer. 
 
ABG Sundal Collier and DNB Markets have been engaged to assist in the process of a potential listing supporting the acceleration of the Company’s decarbonisation goals.  
 

Media contact:  
Safia Reddy, Head of Communications, Höegh Autoliners 
Email: safia.reddy@hoegh.com 
Ph: +47 4003 9857 
 

Höegh Autoliners 
Höegh Autoliners is a leading global provider of RoRo (Roll On Roll Off) transportation services delivering cars, high and heavy and breakbulk cargoes across the world. The company operates around 40 RoRo vessels in global trade systems and makes about 3000 port calls each year. Our purpose is to develop innovative solutions for greener and more sustainable deep-sea transportation. We are on a path to a zero emissions future and are working closely with customers and partners to achieve this. Höegh Autoliners has its head office in Oslo, Norway and employs around 350 people in its 16 offices worldwide and 1300 seafarers. Höegh Autoliners Holdings AS is owned by Leif Höegh & Co. Holdings AS (61.25 per cent) and A.P. Møller - Maersk A/S (38.75 per cent).  

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Disclaimer 

This announcement is not intended to, and does not constitute, or form part of, an offer to sell, purchase, exchange or subscribe for or a solicitation of an offer to sell, purchase or exchange any securities or a solicitation of any vote or approval in any jurisdiction. 

This announcement may contain forward-looking statements with respect to the financial condition, results and business of the Company. These forward-looking statements can be identified by the fact that they do not relate only to historical or current facts.  

These statements are based on the assumptions and assessments made by the Company in light of their experience and their perception of historical trends, current conditions, future developments and other factors they believe appropriate.  By their nature, forward-looking statements involve risks, uncertainties, and changes in circumstances. Undue reliance should not be placed on any such statements because, by their very nature, they are subject to known and unknown risks and uncertainties and can be affected by other factors that could cause actual results, and management's plans and objectives, to differ materially from those expressed or implied in the forward-looking statements.  

High resolution image: The Aurora Class

High resolution image: Andreas Enger, CEO

High resolution image: Lise Duetoft, Chief Strategy and Analytics Officer

High resolution image: Leif O. Høegh, Chair