©Ed Dunens (CC BY 2.0)

A good first semester

HÖEGH Autoliners’ profits soar

by Port News Editorial Staff

HÖEGH Autoliners closed its  first semester with a 31% increase in revenues compared to the same period last year. Overall, the world’s fifth-largest new car transport operator totaled $585 million, nearly $140m more than the $446m in January-June 2021.

Adjusted earnings increased 124%, to $177 million. While adjusted EBITDA was $99 million, up $21M from $78M  last year.

Cargo  volumes were up  by 7.3% , mainly due to an increase in Asian exports, particularly from China, which soared  74 % in May compared to  April and 62% on  the same month in 2021.

Freight rates rose by 8.4%.

Translation by Giles Foster

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