Höegh Autoliners has reported stable performance for September, transporting 1.3 million cubic metres of cargo on a prorated basis during the month. The average prorated net freight rate achieved in September was $78.5 per cubic metre.
For the full third quarter, from July to September, the company transported a total of four million cubic metres of cargo. The average prorated net freight rate for the third quarter was $80.3 per cubic metre.
The share of high and heavy and breakbulk cargo accounted for 22 per cent of the volumes carried in September.
Andreas Enger, CEO of Höegh Autoliners, commented that while the company's September performance was stable, the third quarter has been impacted by a weakening trade balance which is likely to continue.
He noted that the company has increased its short-term charter exposure and costs through 2025 to maintain its lifting capacity.
Looking ahead, the company is monitoring the implementation of US port fees, which are likely to add cost pressure in the coming months if implemented as planned.
Based on these factors, the company now expects its third-quarter EBITDA to be at the low end of its previously communicated guidance.