Höegh Autoliners ASA ("Höegh Autoliners" or the "Company", ticker code "HAUTO") has signed a two-year contract with a major international car producer for transport of cars in various trade lanes.

The contract is a two-year extension of an existing contract, now updated with new commercial terms reflecting the current market. Shipments under the extended contract will commence on January 1, 2025.

Andreas Enger, CEO of Höegh Autoliners, commented: "The extension of this contract, with substantial cargo volumes in several of our core trade lines, represents another important milestone in our efforts to build a solid contract backlog and support strategically important customers. We have historically a long-term relationship with this customer and are delighted that they have once again chosen Höegh Autoliners as a core supplier for deep sea transport of their products for the next two years.

Höegh Autoliners is on a clear path to reducing carbon footprint from transport of cars and rolling equipment between continents. With two of our Aurora class vessels now in operation and ten more set to enter the fleet the next 2-3 years, we can offer our customers one of the most sustainable and environmentally friendly transport solutions in the industry."

This announcement is a part of our effort to increase transparency through a practice of disclosing a monthly trading update and new contracts with mutual rate and volume commitments exceeding a total value of USD 100 million.

Höegh Autoliners press release