Hoegh Autoliners reported a net profit of $103 million for the first quarter of 2026, despite operational disruptions caused by conflict in the Middle East. The shipping group recorded gross revenue of $360 million and an operating profit of $145 million during the period ending March 31.
Vessel delays and repositioning resulting from regional tensions impacted operations in March, with higher fuel costs expected by the company to affect second quarter results.
During the first three months of the year, vehicle exports from China increased by 57 per cent compared to the previous year, providing a boost to global trade volumes.
The company took delivery of its eighth vessel in a newbuild series, Hoegh Rainbow, from the shipyard in January.
Chief Executive Officer Andreas Enger noted that the group maintained stable underlying performance while navigating a challenging geopolitical landscape.
“Developments in the Middle East continue to disrupt shipping routes and fuel markets, increasing costs and operational complexity,” Enger stated.
Looking toward the second quarter, Hoegh Autoliners projected a $20 million short-term impact from rising fuel prices and a $10 million hit to volumes in its Middle East service.
The company said demand for ocean transportation is expected to remain firm, supported by steady activity across Asia and China. Adjusted operating profits for the upcoming quarter are anticipated by the firm to be in line with or slightly below the figures reported for the first quarter.