Höegh Autoliners adds two Post Panamax new generation PCTCs

16 September 2013

Höegh Autoliners have entered into 12 year bareboat charters for two 8 500 unit Post Panamax car carriers to be delivered in 2016. The vessels will be owned by Ocean Yield ASA and will be built by Xiamen Shipbuilding Industries (XSI) in Xiamen, China.

The two vessels ordered at XSI bring the series of next generation Pure Car Truck Carriers (PCTC) ordered by Höegh Autoliners from the yard to six vessels to be delivered in 2015 and 2016.

The Post-Panamax vessels will have the highest car carrying capacity in the world fleet and will be state-of-the art vessels built on a new design which has been developed over many years of industry experience.

Ingar Skiaker, CEO, says: "The long term charters with Ocean Yield are a continuation of our fleet renewal program which enhances our service offerings. These flexible vessels will be able to cater for a greater variety of cargo and add new opportunities to develop our cargo base.”

Ocean Yield has entered into shipbuilding contracts with XSI for the two vessels. Höegh Autoliners will provide shipbuilding supervision services and will have the technical management and crewing of the vessels when they are delivered and enter Höegh Autoliners’ worldwide trade systems.

Xiamen Shipbuilding Industries is the yard in China with most experience in the construction of car carriers. The yard has previously delivered four PCTCs to Höegh Autoliners, in 2010 and 2011 and received the first orders for the new design Post Panamax PCTC in January 2013.

Ocean Yield is a shipowning company owning marine assets with bareboat agreements. The company was established in 2012 and stock listed in Oslo with Aker ASA as the majority shareholder. Ocean Yields’ strategy is to expand the portfolio of marine assets, primarily within oil service and industry shipping, with long-term bareboat contracts with solid counterparties.

Höegh Autoliners is a leading global provider of Ro/Ro transportation services. The company operates approximately 60 Pure Car and Truck Carriers (PCTCs) in global trade systems. Main customers are major manufacturers of new cars, heavy machinery and rolling stock as well as second hand vehicles.