Hamilton, Bermuda, 7 October 2022,
Himalaya Shipping is pleased to announce it has entered into time charter
agreements for two vessels with one of the major commodity companies, a company
also committed to energy transition.
The vessels will commence a 32-38 month time charter, plus option for 11-13
month, upon delivery from New Times Shipyard and will earn an index linked rate,
reflecting a significant premium to the Baltic 5TC index. 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 based on the prevailing FFA curve from time to
time.
"The first charter agreements agreed on our vessels shows the attractiveness of
our design and fuel consumption. The premium to the Baltic 5TC index we are
earning is to our knowledge a new record for the class of vessels we own. Based
on current Capesize spot index rate, the premium to index and the scrubber
benefit, today the vessels are estimated to generate time charter equivalent
earnings of approximately US$35,000. The Capesize equivalent cash breakeven is
estimated at approximately US$14,000 per day when all vessels are delivered. We
are in advanced discussions about securing further employment for our fleet."
says Herman Billung, contracted CEO of Himalaya Shipping.
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.