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Hoegh Puts Past Behind It, Brings Ford Onboard

Cons. Discr. - Autos 883 Corp - Shipping 753 Mode - Seaborne 1518 U.S. 4297

The U.S. Justice Department has charged the former CEO of Hoegh Autoliners, Ingar Skiaker, with price fixing in the car shipping business from 2006 to 2012. That puts the issue firmly in the past, but is a reminder of the regulatory risks in shipping industry which often rely on partnerships and alliances. Hoegh’s largest customer in the 12 months to May 31 was Ford Motor with 22.1% of shipments, built up from minimal shipments before 2018, and General Motors with 18.7%. Hoegh has been able to rebuild its business since 2016 with a 26.2% year over year growth in the 12 months to May 31, ...

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