Transportation
Car Shipper Hoegh Drops on Weaker Trade and Port Fee Warning
The Hoegh Autoliners ASA Aurora car and truck carrier crosses the Agua Clara Locks of the Panama Canal in Panama City.
Photographer: Tarina Rodriguez/BloombergHoegh Autoliners ASA shares slid the most since April after the car-shipping company warned of weaker trade balances and said a threat from proposed US port fees on vessels could raise costs.
The third quarter “has been impacted by weakening trade balance which is likely to continue,” it said Tuesday, adding that freight rates were weaker in September than the previous three months. The stock dropped as much as 12% in Oslo to the lowest since July.