- Transported 1.1 million cbm in January and 3.5 million cbm over three months.
- Gross freight rate was USD 99.6 per cbm (-0.7%), and net rate was USD 82.1 per cbm (-5.3%).
- HH/BB share was 22% in January and 24% over three months.
- CEO noted a seasonal slowdown but expects improvements with new vessel additions.
In January 2025, Höegh Autoliners (ticker: HAUTO) transported 1.1 million cbm of cargo on a prorated basis. The total volume transported over the last three months (November – January) reached 3.5 million cbm.
Freight Rates and Market Conditions
The average prorated gross freight rate for January 2025 stood at USD 99.6 per cbm, reflecting a 0.7% decline compared to the Q4 2024 average of USD 99.7 per cbm. Over the last three months, the average gross rate remained stable at USD 99.7 per cbm.
Meanwhile, the average prorated net freight rate for January was USD 82.1 per cbm, marking a 5.3% decrease from Q4 2024’s average of USD 84.6 per cbm. The three-month average net freight rate was USD 84.6 per cbm.
Cargo Mix and HH/BB Share
The HH/BB share of prorated volumes carried in January 2025 was 22%, while the last three months’ share was 24%.
CEO’s Outlook
“January activity level was as expected somewhat influenced by seasonal slowdown. Going forward we will benefit from having four of our newbuilds in operation following delivery of Höegh Australis and Höegh Sunlight. January net rate was lower than recent months following from trade mix and start of new contract volume. The share of contract cargo was above 80%,” said Andreas Enger, CEO of Höegh Autoliners.
With the seasonal slowdown in January and the start of new contracts, the company anticipates improvements as new vessels enter service.
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Source: Höegh Autoliners
