Höegh Autoliners, Inc. Signs a 10-Year Lease
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Höegh Autoliners is a leading global provider of Roll on Roll of (Ro/Ro) vehicle transportation services. The company operates 67 PCTCs (Pure Car Truck Carriers) in worldwide trade systems with an annual transportation volume of 2 million CEUs (Car Equivalent Units). To meet customer demand for capacity and flexibility, Höegh is engaged in an extensive fleet expansion and renewal program, with the last of 32 PCTC newbuildings being delivered by 2011. Also, a major ship lengthening program has recently been completed with 10 of its PCTCs “stretched” by 100 feet. In the aggregate this program has created additional carrying capacity corresponding to approximately two PCTCs. “Höegh is a growing company, and I am proud that a significant amount of that growth will be occurring at our Port. This is welcome news during a time when our state is being hit especially hard by the downturn in the national economy,” remarked Delaware Governor Jack Markell. “My administration is working hard every day to make Delaware more attractive to businesses and more conducive to job creation because growing our economy is the only long-term solution to the historic challenges facing Delaware,” he added. Last year, 64 Höegh vessels called at the Port of Wilmington loading nearly 67,000 GM automobiles, SUVs, used automobiles and rolling stock for the Middle East. A recent economic impact analysis by Martin & Assoc. for the Port of Wilmington credits Höegh’s related cargo with the creation of nearly 600 jobs, $31.7 million in business revenue and $2.2 million in local and regional taxes. “The Port of Wilmington is a strategic partner for the future of U.S. trades,” said Jim Butcher, Chairman of Höegh Autoliners Inc. Mr. Butcher continued by saying, “We cannot depend on our vessels and people alone, we must continue to link with partners like the Port of Wilmington to ensure our success. Labor in Wilmington has been another major factor in our success, with its professional, quality approach to making working routines safe and efficient.” “This is a wonderful day for the Port of Wilmington and our State. On behalf of the Chairman and DSPC board of directors, the executive staff and men and women working at the Port of Wilmington, I congratulate Höegh on our new lease agreement,” said Eugene R. Bailey, Executive Director of the DSPC. “Höegh has been a uniquely loyal and valued partner of the Port in the automotive transportation business for over three decades. I look forward to our continued collaboration to bring additional business through the port in the years ahead,” he remarked. About the Port of Wilmington, Delaware Founded in 1923, the Port of Wilmington is a full service Mid-Atlantic seaport on the Delaware River strategically located serving over 200 million North American consumers by overnight truck and rail delivery. Wilmington ranks as the nation’s leading gateway for imported perishable cargo, and a major automobile export hub to the Middle East, Central America, and West Africa. An economic engine for the State of Delaware and the region, it is responsible for 14,600 jobs, $407 million in business revenue, and $29 million in annual local taxes. The Port is owned and operated by the Diamond State Port Corporation, a corporation of the State of Delaware. XXX END XXX
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