Norway’s Hoegh Autoliners has taken advantage of another sale-and-leaseback option to snap up a car carrier at a bargain price.
The Oslo-listed company said it is paying only $29.3m to take over the 7,850-ceu Hoegh St Petersburg (built 2009) from Pioneer Leasing, a company controlled by French bank Credit Agricole.
The average market value of the DSME-built vessel estimated by three different brokers was $70m at the end of September, putting Hoegh more than $40m in the money.
