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Wallenius buys Höegh ship – Neptune and Hyundai Glovis place orders

Caption: Erik Nøklebye (© Wallenius Lines)

A few days after the announcement of the sale, the new owner of the “Höegh Chiba” is now also known as Wallenius Lines. Meanwhile, Neptune Lines and Hyundai Glovis have drawn up options for further newbuildings.

Erik Nøklebye, the new head of the Swedish shipping and investment company Wallenius Lines, has now confirmed the purchase of the car carrier “Höegh Chiba” in a statement.

The purchase is in line with the strategy of “actively engaging in this shipping segment through innovation, design, construction, management and investment in used and new tonnage”, according to a statement.

Together with the Japanese shipping company NYK, Wallenius Lines operates the shortsea shipping company United European Car Carrier, UECC. Since April 2017, together with Wilh. Wilhelmsen Holding ASA, it has been the majority shareholder of Wallenius Wilhelmsen ASA, which is listed on the Oslo Stock Exchange. With Svenska Orient Linien (SOL), it also owns 50% of Wallenius SOL, which was launched in 2019. Last but not least, the company owns 50% of AlfaWall Oceanbird, a joint venture with Alfa Laval.

The investment in the fleet is part of a series of similar activities throughout the market. There is great demand and a shortage of ship space, which is why further series of newbuildings are expected. Wallenius Wilhelmsen, for example, sees great demand for newbuilds, as manager Carsten Wendt recently explained in detail on the HANSA PODCAST.

Wendt Wallenius Wilhelmsen Podcast2

Wallenius charters out “Auto Way”

The “Höegh Chiba”, built in 2006 with space for 6,000 CEU, will be renamed “Auto Way” and managed by Wallenius Marine. A charter agreement – which is not explained in detail – has already been concluded. The car freighter is to be handed over in Asia at the end of August – “presumably debt-free”, as Höegh announced when the sale was announced. The shipping company is currently restructuring its fleet with purchases, sales and newbuildings, among other things.

Meanwhile, other competitors are apparently following suit with further newbuilding orders. According to broker reports, Hyundai Glovis and Neptune Lines, for example, have drawn up options for new freighters or signed contracts. Hyundai Glovis will, therefore, receive four 10,800-CEU freighters with LNG dual-fuel propulsion from two shipyards for USD 122 million each. Neptune Lines is said to have ordered two 4,200 CEU freighters from the Fujian Mawei shipyard. All of these newbuildings are due to enter service in 2027.

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