Oslo-listed car carrier operator Höegh Autoliners has extended an existing contract with a major Asian car producer in a deal expected to add about $300m in revenue.
The contract extension runs until December 2029 and covers the transportation of cars in a key trade lane.
Höegh Autoliners said the new agreement includes higher committed volumes and updated commercial terms in line with observed market rates.
Andreas Enger, chief executive officer of Höegh Autoliners, said the extension supports the company’s work to build contract backlog with strategically important customers.
The deal also adds Xiaomo port in southern China to Höegh’s service offering out of Asia.
Höegh operates around 40 vessels in global trades and makes more than 2,000 port calls a year, carrying cars, high and heavy cargo and breakbulk.
The extension comes during a strong period for long-term car carrier contracting, with operators continuing to secure volume cover from major carmakers while fleet supply remains tight.
Splash has reported a string of recent Höegh contracts, including an Asian carmaker deal for mainly electric vehicles from Asia to Europe through 2028, a five-year North America-to-Middle East contract, and several extensions with international car producers.
The latest deal also follows comparable moves by rival Wallenius Wilhelmsenwhich recently added around $420m of revenue through an early three-year extension with a major European automaker.
