Grimaldi has formally become a Hoegh Autoliners shareholder, buying a 5.2% stake in the Norwegian company specializing in new car shipping. It has now become the company’s second largest shareholder after Leif Hoegh & Co, which holds 35.5% of the share capital.
Rather persistent rumours about the Italian Grimaldi Group’s interest in Hoegh Autoliners had been circulating for some time, at least since Maersk had made its departure from the shipping company official in December 2023, monetizing the sale of its remaining 10.5 % stake and opening the door for other market players.
The trend in the new car shipping market is certainly favouring consolidation processes in the sector. Just a few days ago MSC acquired the entire capital of Gram Car Carriers (GCC), the world’s third largest Pure Car Truck Carrier (PCTC) ocean carrier.
Grimaldi is not new to this type of business. The liner already owns 25 car carriers and has another twenty vessels on order, which are due to be delivered over the next two years.
Translation by Giles Foster
