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Risk and Compliance Roro Finance

Red Sea diversions weigh on cargo volumes and revenue at Höegh Autoliners

Oslo-listed company reported total revenues for the first quarter of $328m, compared with $382m in the final quarter of 2023

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Fifth-biggest vehicle carrier operator reports a 14% drop in quarterly revenues because of longer Red Sea diversions. Nevertheless, spot freight rates are being maintained at record levels and Höegh Autoliners should gain from an uplift in pricing from upcoming contract renewals with its major shippers

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