Oslo-listed Hoegh Autoliners has taken advantage of record car carrier markets to refinance its bank debt.
The Norwegian shipowner said nine lenders have come up with a package worth $400m to free 10 vessels from collateral obligations.
The company now has 13 unencumbered ships built between 1995 and 2005, out of a fleet of 24, and will see amortisation costs drop from $80m to $52m each year.
