Norwegian car carrier player Höegh Autoliners is taking ownership of one of its leased vessels.

The Oslo-listed outfit has exercised a purchase option at Parcar Shipholding on the 2010-built Höegh Copenhagen.

The deal worth $36.5m will see the 7，850 ceu vessel switch ownership in August， the Andreas Enger-led operator of around 40 car carriers said in a stock exchange filing.

The unit， built by South Korea’s Daewoo Shipbuilding & Marine Engineering (DSME)， now known as Hanwha Ocean， was valued at $79m by the end of last year.

“With this purchase， the company has exercised eight purchase options in three years，” Höegh Autoliners chief executive Enger， noted， adding: “Each of these transactions have reduced our capacity cost and strengthened our balance sheet. They are all included in an attractive and accretive financing structure with our core banks.”