Hoegh Autoliner Asa (HOEGF) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning and a warm welcome to Hyk Autoliner's second quarter presentation. My name is My Linh Vu, Head of Investor Relations, and we have with me our CEO, Andreas Enger, and our CFO, Espen Stubberud. We will walk you through the last quarter update. As usual, you can send questions to our investor relations mailbox at ia.hyk.com and we will address these questions during our Q&A session at the end. So with that, I will hand it over to you, Andreas. Thank you, My Linh. And welcome to this presentation. This has been an exceptional quarter in many ways. Exceptional in the sense that we've had the strongest customer demand growth I think I've ever seen, where we could have filled the multiple vessels, more vessels if we had them. It's been exceptional also then in the tightness of the capacity market with increased charter rates and it has been exceptional in disruptions both in terms of fuel costs and in terms of cargo displacement bound for the Middle East due to the conflict in Iran and the Strait of Hormuz. That in some way warrants a slightly deeper dive than usually into the underlying factors, but we will run you through the presentation and then, as My Linh said, respond to Q&A session afterwards. Starting with the quarter highlights, the market for Roro Services is exceptionally strong. Car exports out of Asia growing 31% year-on-year in the first half. China increased by 68% year-on-year, again creating an exceptional demand for capacity that is also fairly substantially underserved. That has tightened the capacity market. Charter rates climbing further. New build order books fully absorbed by the Chinese growth. We're coming into that in some more detail. It's also been Very much colored by the conflict in the Middle East. It's been for us a huge disrupt...