HÖEGH Autoliners remains confident in its fortunes in global PCTC/ro-ro trades, despite ongoing geopolitical and market uncertainties.
Reporting Q2 results late last week the Osla-based company lauded a continued solid financial performance with gross revenue USD 367 million/NOK 3,785 million, operating profit (EBITDA) of USD 166 million/NOK 1,708 million, and net profit after tax of USD 123 million/NOK 1,268 million.
Highlights of the quarter included volume up 11% from Q1, contract share of 81%, up from 73% in 2024, and the fifth Aurora Class vessel, Höegh Sunrise, delivered from the yard in May, and the sixth vessel, Höegh Moonlight delivered in June.
Subsequent to 30 June the debt-free Höegh Beijing sold for USD 43 million with delivery in Q3 and the company signed one three-year contract with an international car producer, with the contract value above USD 100 million.
CEO Andreas Enger said Höegh Autoliners was pleased to report another strong quarter despite ongoing global uncertainties and geopolitical tension.
“Our results reflect our strategy of ‘going long on cargo’ in late 2024, which has allowed us to steadily increase volume and increase our contract share from 73% in 2024 to 81% this year. We continue to see a resilient market and fleet utilisation remains high, however with increasing trade imbalances.
“We remain committed to our sustainability ambition and have announced a cooperation with Nordic Circles with the ambition of upcycling a vessel during 2026,” Mr Enger said.
Regarding the outlook, Höegh Autoliners warned tariffs may over time result in lower volumes transported, while new US port fees will be valid as of 14 October.
“The gross cost yearly impact is ~$30 million, and the company is working with its customers to mitigate the impact.
“We expect Q3 to be in line with 1H 2025.”