Hamilton, Bermuda, August 25, 2022
Himalaya Shipping Ltd. (the "Company") is pleased to announce that it has
decided to install scrubbers (EGCS) on the entire fleet of twelve vessels
presently under construction at New Times Shipyard ("NTS") in China. The
installation will be done within the previously agreed delivery schedule from
the shipyard at attractive prices and payment terms.
After installation of scrubbers, the ships will have the ability to be fuelled
with LNG, LSFO or HSFO. This offers significant increased flexibility for our
customers and will be valuable in the ongoing employment discussions. Based on
current spot pricing of LSFO versus HFO in Singapore the scrubber investment is
estimated to give a total benefit of US$7,500/day when sailing, and based on our
expected share of scrubber benefit the investment is expected to be paid back in
less than 1.5 years.
The Management and Board would like to express their appreciation to NTS showing
their willingness and ability to make alterations during the building process,
underlining the excellent cooperation between builders and the Company.
For further queries, please contact:
Herman Billung, Contracted CEO
Telephone +47?918 31?590
About Himalaya Shipping Ltd.:
Himalaya Shipping Ltd. is an independent bulk carrier company, incorporated in
Bermuda. Himalaya Shipping has ordered 12 LNG dual fuel Newcastlemax dry bulk
carriers with delivery between Q2 2023 and Q4 2024.
Forward-Looking Statements
This announcement includes forward looking statements. Forward looking
statements are, typically, statements that do not reflect historical facts and
may be identified by words such as "anticipate", "believe", "continue",
"estimate", "expect", "intends", "may", "should", "will" and similar
expressions. The forward-looking statements in this announcement are based upon
various assumptions, many of which are based, in turn, upon further assumptions.
Although Himalaya Shipping Ltd. believes that these assumptions are reasonable,
they are, by their nature, uncertain and subject to significant known and
unknown risks, contingencies and other factors which are difficult or impossible
to predict and which are beyond our control. Such risks, uncertainties,
contingencies and other factors could cause actual events to differ materially
from the expectations expressed or implied by the forward-looking statements
included herein.
The information, opinions and forward-looking statements contained in this
announcement speak only as of the date hereof and are subject to change without
notice.