Photo: Aurora Class; Image credit: Höegh Autoliners

Höegh considers listing as it sets sights on up to 12 ammonia-ready ships

Norwegian RoRo shipping company Höegh Autoliners is considering a potential listing as it scales up green vessel investment plans as part of its decarbonization efforts.
 
Namely, Höegh intends to invest in up to 12 Aurora class multi-fuel and ammonia ready vessels designed with a 9,100 car equivalent unit capacity.

The company has entered into a Memorandum of Understanding with its long-term partner Xiamen Shipbuilding Industry..

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“We are investing in future technology and newbuilds to further strengthen our service offering and meet our ambitious environmental targets and those of our customers. The recent launch of the multi-fuel Aurora class design demonstrates how we can strengthen our leading position in decarbonisation and cargo efficiency. These vessels will be the largest and greenest PCTCs to be built and lead the way towards a net zero emissions future for our industry,” Leif O Høegh, the company’s Chair commented.   

ABG Sundal Collier and DNB Markets have been engaged to assist in the process of a potential listing supporting the acceleration of the company’s decarbonization goals.  The company did not disclose further details on the listing.

“We are accelerating our decarbonisation efforts to meet our net zero emissions target by 2040 and are committed to build a more sustainable maritime industry. The advancement in propulsion technology and digital solutions will significantly strengthen our capabilities to combat climate change”, Höegh Autoliners’ CEO Andreas Enger said.   
 
The Aurora class has DNV’s new “ammonia ready” notation, which makes it the first in the segment to be ready for operation on carbon neutral ammonia.

The company anticipates the delivery of the first of the new series of multi-fuel and ammonia-ready vessels in the beginning of 2024.