VIDEO: Fire gutted Fremantle Highway gets a new name and heads for rebuild

The car carrier Fremantle Highway is set to be rebuilt in China, despite being declared a constructive total loss (CTL) by insurers after being gutted in a long-burning 2023 fire that broke out when it was carrying a large number of EVs.

Netherlands based shipbroker Friday & Co. said today that it has successful brokered a significant chartering deal between Boskalis and a Chinese charterer to transport the vessel, now renamed Floor, to China on Boskalis’s semi-submersible heavy lift flagship, the Boka Vanguard.

After being declared a CTL, the Fremantle Highway was acquired for a nominal sum. The vessel then underwent extensive modifications in Rotterdam, where all damaged and burned-out decks were cut out making it viable for transportation to China where it will be refitted for use.

Friday & Co. says that it is now set for an extensive restoration in China, after which it will re-enter service under new ownership by mid-2025, offering a swift return to the global fleet amid a pressing demand for Pure Car and Truck Carrier (PCTC) vessels.

This is a first-of-a-kind project for the S&P shipbrokerage, whose newest broker,Justin Archard, has brought two decades of heavy-lift chartering experience to the team and played a key role in orchestrating the complex logistics and negotiations required to secure the ideal transport vessel for the vessel.

“Brokering this fix with Boskalis, the Chinese charterers and HCS (Hamburg Chartering Services) was an engaging and challenging project,” said Archard. “From initial contact, we thoroughly assessed potential vessels and ultimately selected the Boka Vanguard for its unrivaled capabilities. I was delighted to be able to advise and facilitate a mutually beneficial outcome for both parties.”

Friday & Co. provided representation for its client during pre-loading preparations, ensuring that its interests were properly safeguarded, and worked with the marine warranty surveyor to ensure that the transport environment had been properly prepared and all risks minimized.

“Our efforts ensured that the transport arrangement was thoroughly vetted for safety, accounting for changes in the vessel’s structure post-fire,” Archard said. “What was particularly interesting about this shipment was how the bending and twisting characteristics of the ship changed following the heavy steel cutting. Engineers couldn’t know this before loading so this required some practical logic.”

Archard was also present on behalf of the client at the load-out in Rotterdam. In preparation for the journey to China, the Boka Vanguard submerged to a depth of 24 meters over a 12-hour period, allowing the car carrier to be carefully maneuvered onboard by tugboats and secured with custom-built supports.

Friday & Co. says the rebuild makes sense. Despite significant fire damage, only the car decks of the vessel were compromised. All structural elements below the main deck remained intact, allowing for a cost-effective rebuild in lieu of a lengthy newbuild process.

The journey from Rotterdam to China has already begun and is expected to take approximately 55 days. Once in China, the vessel will undergo renovations to bring it back into service, addressing a high demand for car carriers in the Asian market.

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