The car carrier market is shifting from a period of skyrocketing rates to stability and Hoegh Autoliners is looking to capitalise.

During its second-quarter earnings presentation on Wednesday, chief executive Andreas Enger said the Oslo-based shipowner is looking to secure longer-term deals to optimise its backlog.

“We are continuing to increase our contract coverage,” he said during a live presentation held in conjunction with the Norwegian political event Arendalsuka.