Dry CargoEurope

Himalaya Shipping fixes four more ships

Oslo-listed Himalaya Shipping has struck another charter deal this month, fixing four of its newcastlemax dry bulk carriers currently under construction in China to Singapore’s Koch Shipping.

The Tor Olav Troim-backed owner said the ships will commence a 24-month charter in the second and third quarter of 2023, at an index-linked rate with a significant premium to the Baltic 5TC index, with certain options attached to roll the charters to 2024.

The time charters also include a profit sharing of any economic benefit derived from operating the vessel´s scrubber or running on LNG, as well as certain rights to convert the time charters to fixed rates.

Himalaya Shipping has 12 LNG dual-fuel ships set to deliver from New Times Shipyard between the second quarter of 2023 and the fourth quarter of 2024. Earlier this month, the company fixed two newbuildings to a major commodity company for 32 to 38 months, with options for another 11 to 13 months.

“We have now chartered out six vessels on index linked charters with our vessels achieving market high premium to the Baltic 5TC index. The reception for the vessels in the market has been above expectations. Our simple structure, with index linked charters earning a significant premium, low G&A cost and financing with seven year fixed bareboat rates puts us in a good position to deliver solid returns to our shareholders,” said Herman Billung CEO of Himalaya Shipping.

Adis Ajdin

Adis is an experienced news reporter with a background in finance, media and education. He has written across the spectrum of offshore energy and ocean industries for many years and is a member of International Federation of Journalists. Previously he had written for Navingo media group titles including Offshore Energy, Subsea World News and Marine Energy.
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