Tor Olav Troim-backed Himalaya Shipping has secured sale and leaseback financing for its complete newbuilding program of newcastlemax dry bulk vessels.
The Oslo-listed firm has 12 dual-fuel ships under construction at New Times Shipyard in China with delivery between the second quarter of 2023 and the fourth quarter of 2024.
In February this year, the company completed the sale and leaseback deal for the first four newbuildings, which was followed by credit approval for the last eight ships. The financing covers the remaining instalments to the shipyard and secures “attractive financing” for seven years from delivery, the company said.
Himalaya added the deal offers both pre and post-delivery financing and gives the company customary purchase options at certain dates in the future.
With the so-called eco design, Himalaya’s newbuilds will be able to run on liquified natural gas (LNG) or low sulphur fuel oil (LSFO) and deliver fuel efficiency and lower emissions to meet the IMO goal towards 2030 and beyond.