Hoegh Autoliners has bought back a leased car carrier to reduce financial expenses.
The Oslo-listed Norwegian shipowner said it is paying $22m to Ocean Yield for the 4,900-ceu Hoegh Beijing (built 2010).
Hoegh Autoliners had an option in the sale-and-leaseback contract with its Norwegian counterparty to reacquire the vessel, which it is bareboat chartering.
