HÖEGH AUTOLINERS SELLS CAR CARRIER TO GRIEG GREEN FOR "GREEN RECYCLING"

25 februari 2013 Oslo 25 February 2013 Höegh Autoliners has sold the Pure Car Truck Carrier Höegh Traveller (built 1983) for recycling to Grieg Green which will provide services to ensure safe and environmentally friendly "green recycling" in China. "This is the 12th car carrier we have sold for green recycling and we are pleased that Grieg Green will supply services to safeguard safe and environmentally friendly recycling," says Ingar Skiaker, CEO of Höegh Autoliners.  "Our concern for safety and the environment applies all the way through the vessel's life." Höegh Autoliners implemented a policy in 2009 for green recycling of car carriers reaching the commercial end of their lives. Grieg Green was selected based on good experience from one earlier recycled car carrier from Höegh Autoliners. "Grieg Green has been set up to provide shipowners with services for planning, monitoring and reporting green recycling," says Petter Heier, CEO of Grieg Green AS. "We have successfully recycled several vessels and we are pleased that Höegh Autoliners again has entrusted us to handle this project." Grieg Green act as buyer of the Höegh Traveller and will resell the vessel to the recycling yard in China. Grieg Green will in addition supply services to ensure the recycling is carried out to the best standards.  Höegh Autoliners has adopted a Ship Recycling Policy based on the intentions in the IMO recycling convention proposed in 2009 ensuring that a vessel is recycled in a safe and environmentally friendly way at a ship breaking yards which can document that certain standards will be met. Höegh Autoliners Höegh Autoliners is a leading global provider of Ro/Ro transportation services. The company operates approximately 60 Pure Car and Truck Carriers (PCTCs) in global trade systems. Main customers are major manufacturers of new cars, heavy machinery and rolling stock as well as second hand vehicles. See www.hoeghautoliners.com Grieg Green Grieg Green is part of the Grieg Group which has more than 125 years of experience in the maritime industry. Grieg Green is a direct counterparty and a facilitator for green shiprecycling, offering upon other services: negotiation with pre-approved yards, direct buyer of the vessel, IHM preparation and supervision at the recycling facility. See www.grieggreen.com Contact: Roar Flom,CFO, Höegh Autoliners phone +47 4003 9920  e-mail: roar.flom@hoegh.com Petter A. Heier, CEO, Grieg Green AS Phone +47 97024773 e-mail: petter.heier@grieg.no Höegh Traveller: http://hugin.info/80/R/1678565/547910.jpg This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Höegh Autoliners via Thomson Reuters ONE [HUG#1678565]