HÖEGH Autoliners has committed to expanding its successful Aurora-class of PCTCs by a further six vessels and taken another four options.
The additional six new dual-fuel LNG and zero-carbon-ready Aurora class vessels are for delivery in 2029–2031 and will extend Höegh Autoliners’ Aurora class newbuilding program to a total of eighteen vessels, all of which will be built by China Merchants Heavy Industry (Jiangsu) Co., Ltd. (CMHI).
Höegh said the company had received “highly attractive terms reflecting our strong relationship with the yard, scale benefits and favourable economics of building repeat vessels”.
The option to build four additional vessels at same terms, includes slot reservations for another four vessels at the same yard. The option vessels may be exercised within six months, while the four slot reservations are held for the Company, with notice to be given on or before 31 December 2027.
“This decision allows Höegh Autoliners to accelerate its green fleet renewal programme, with flexibility to extend the program up to a total of up to twenty-six Aurora vessels, including the twelve vessels already delivered or on order,” the Oslo company said.
Höegh’s new orders come as China’s Xinde Marine News reports a local owner has paid around US$40 million at auction for a 26-year old 4,310 CEU PCTC, triple the auction starting place and a 420.42% premium to its 2025-end book value.
And while in February this year the appetite for newbuildings was seen to be cooling, Shippax last week reported that as of 15 August, 46 new PCTCs have been ordered this year, stretching out to 2029 deliveries.
Worldwide vehicle exports in June were 75% up year-on-year, and the half-year up 65.5% for a total of 1,037,000 vehicles of which 46.2% were NEVs.
The Aurora vessels will have DNV’s ammonia and methanol ready notation, with the main engine provided by Everllence and the bridge system supplied by Kongsberg Maritime. With the capacity to carry up to 9,100 cars, the Aurora class is reducing carbon emissions by up to 58% compared to conventional PCTCs, Höegh says.
“The further expansion of our newbuild program is providing an opportunity to fully anchor our green leadership position. The newbuilds retain future ammonia-conversion flexibility.
CEO Andreas Enger said: “The Aurora class newbuilds have demonstrated very strong earnings potential, carbon performance, cargo flexibility and future-proof conversion capability.
“Through our newbuild program, we secure capacity costs at a competitive level, supporting profitable operations even during potential periods of lower freight rates.
“Further expanding our fleet strengthens our ability to capture growth in the Asian market and meet evolving customer demand, while giving us greater strategic flexibility, supporting long-term fleet renewal and positioning us to capture commercial opportunities in the years ahead.”