Shipping Industry News: Ro-ro carrier Höegh Autoliners stated in a trading update on the Oslo Stock Exchange that cargo volumes were stable in the third quarter. However, as freight rates declined, earnings for the same period are expected to be lower than anticipated.
Specifically, data shows that Höegh Autoliners’ cargo volume reached 1.3 million cubic meters in September, having exceeded 1.4 million cubic meters in July. The total cargo volume for the third quarter (July to September) reached 4 million cubic meters.
The average gross freight rate in September was USD 90.3 per cubic meter, a year-on-year decrease of 2.3%; the average net freight rate was USD 78.5 per cubic meter.
Meanwhile, the average gross freight rate for the third quarter was USD 92.3 per cubic meter, and the average net freight rate was USD 80.3 per cubic meter.
Andreas Enger, CEO of Höegh Autoliners, said, “Höegh Autoliners delivered a stable performance in September. However, the third quarter was impacted by an imbalance between supply and demand, a situation that is likely to persist. The company has increased its short-term charter risk and costs for 2025 to maintain our carrying capacity.”
He further noted, “EBITDA for the third quarter is expected to be at the lower end of the guidance range announced in August.”
Andreas Enger, CEO of Höegh Autoliners, emphasized, “We continue to monitor the implementation of US port fees. If implemented as planned, this could increase cost pressure in the coming months.”
