Car carrier Höegh Xiamen declared constructive total loss after fireChristian Fernsby ▼ | July 3, 2020
Höegh Xiamen car carrier has been declared "a constructive total loss" following a fire that broke out on the vessel in early June in Jacksonville, USA.
Fire Höegh Xiamen
Topics: Höegh Xiamen
Ocean Yield on Friday said the vessel had been declared a total loss following a fire that broke out onboard the vessel in early June in Jacksonville, USA. During the initial response, several firefighters sustained serious injuries.
Ocean Yield expects to receive insurance proceeds in Q3 2020 of about USD 26 million, which is close to the book value of the vessel. The net cash proceeds after repayment of debt related to the vessel will be about USD 8 million. ■