Hoegh Autoliners

Höegh Autoliners and A.P. Moller – Maersk A/S has announced their agreement for A.P. Moller – Maersk A/S to become a shareholder in Höegh Autoliners holding 37.5 per cent of the shares effective from 1 January 2008. Leif Höegh & Co Limited will retain the position as majority shareholder in Höegh Autoliners. At the same time Höegh Autoliners acquires A. P. Moller - Maersk’s fleet of 18 car carriers (including six newbuildings). (Company Website) (http://www.hoegh.com/autoliners/news/press_releases/article3118.ece?year=2008)

The main destinations in the Red sea and the Persian Gulf are served with an average frequency of two sailings per month. Exceptions are Aqaba - Jordan and Mersin - Turkey, which are served on a monthly basis. Iran and Iraq are also served monthly, but with transhipment. Destinations in India are presently called upon on a monthly basis. (Company Website) (http://www.hoegh.com/autoliners/products_and_services/trade_routes/europe_to_middle_east_india/)

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The Europe to the Middle East and India trade combines main load ports in Europe with destinations in the Red Sea, Persian Gulf and India. Apart from our direct ports in the Middle East area, we also serve Iran and Iraq on a transhipment basis, utilizing our own tonnage from Jebel Ali. With the extensive Höegh network, we can furthermore offer shipment out of several Mediterranean ports to the Middle East.