Norwegian car carrier player Höegh Autoliners has exercised an option to buy the 2010-built Höegh Beijing， currently on a long-term charter from Norway’s Ocean Yield.

Höegh Autoliners had a purchase option on the vessel at the end of the charter period， and now that it has been declared， the effective purchase date is June 20， 2022， with a price tag of 22m.

The 4，900 CEU vessel has been on a bareboat charter with Höegh Autoliners since 2014 and will continue to operate in its deep-sea network. The Oslo-listed company operates a fleet of around 40 car carriers.

Ocean Yield said it will receive net cash proceeds after repayment of debt related to the vessel of about $12m， which will be reinvested into new vessels with long-term charters.