Shipping company Höegh Autoliners transported 1.3 million cubic meters of cargo in September, totaling 4 million cubic meters during the third quarter.
The average freight rate stood at $90.3 per cubic meter gross, marking a 2.2 percent decrease compared to the previous three months.
The company anticipates that its EBITDA for the quarter will fall at the lower end of its previously communicated guidance. Following the second quarter, Höegh Autoliners had stated that results would be in line with those from the first half of the year.
“Our performance in September was stable. However, Q3 has been affected by a weakened trade balance, which is likely to persist. We have increased our short-term charter exposure and our costs through 2025 to maintain our lifting capacity. We continue to monitor the implementation of USTR’s port fees, which, if enacted as planned, are likely to increase cost pressures in the coming months,” CEO Andreas Enger commented.