HÖEGH
Enters into an exclusive agreement with Grindrod
on Maputo Car Terminal

DEC, 11.2008
 

 

Höegh Autoliners announced that they have entered into an agreement with Grindrod to acquire an interest in Maputo Car Terminal Ltda in Mozambique, with the objective of developing the terminal as a major hub port for the region. The potential capacity of a fully developed terminal is 255,000 vehicles annually.

Total vehicle imports to South Africa in 2007 were approximately 360,000 CEUs while total vehicle exports from South Africa are estimated to be 290,000 CEUs in 2008. Höegh Autoliners market share of the imports is 33% while the market share of exports is 9%. The volumes to and from this area are expected to grow significantly in the future as South Africa is ranked as one of the most potential markets in terms of sales growth and the local automotive vehicle production is expected to grow towards 1m vehicles per year in the next 3-4 years, with approximately 50% expected to be for exports.  

Höegh Autoliners is a privately owned with Leif Höegh & Co as majority shareholder with 62.5% and A.P.Møller - Mærsk with 37.5% and a leading global provider of Ro/Ro vehicle transportation services. The company operates approximately 70 pure car and truck carriers (PCTCs) in global trade systems. Based in Oslo, has a global network of 30 subsidiaries and representative offices in Europe, North America, Asia and Africa.

• Company's turnover is about USD 1.3bn (2007) and it has approximately 600 employees ashore and 1,500 seafarers. In 2007 carried about 2m car equivalent units (CEUs) annually, making 3,000 port calls.