Hamilton, Bermuda, June 11, 2024
The Board of Directors of 2020 Bulkers Limited have announced today that Mr.
Lars-Christian Svensen will join 2020 Bulkers Management AS as Chief Commercial
Officer on September 1, 2024. Concurrently, Mr. Svensen will also be appointed
Chief Commercial Officer of Himalaya Shipping Ltd., under the management
agreement between 2020 Bulkers Management AS and Himalaya Shipping Ltd.
Mr. Svensen has a 17-year career in international shipping. From 2007 to 2008,
he worked as a shipbroker for Cmarine Services and from 2008 to 2009, he served
as a Project Analyst for Petredec Pte Ltd in Singapore. From 2009 to 2020, Mr.
Svensen was employed by Western Bulk, where he held various positions within the
group in Singapore (Head of Arabian Gulf), Seattle, US (President), and Oslo
(Senior Vice President). From 2020 - 2024, he acted as CCO and CEO of Golden
Ocean Management AS.
Furthermore, the Board of Directors of 2020 Bulkers Limited announced that from
April 1, 2025, Mr. Svensen will transition and will assume the role as Chief
Executive Officer of 2020 Bulkers Management, as well as be appointed as
functioning Chief Executive Officer of Himalaya Shipping Ltd., under the
management agreement between 2020 Bulkers Management AS and Himalaya Shipping
Ltd. This will coincide with the present Chief Executive Officer, Herman
Billung, reaching his retirement age at 67 years. Following his retirement from
his current role as Chief Executive Officer, Mr. Billung will assume a role as
Special Advisor to the Board and Management of 2020 Bulkers Management and
Himalaya Shipping.
The Board of Directors are very pleased to have secured a solid succession plan
for the Companies. Further, we are extremely thankful for the fact that we will
be able to draw on Mr. Billung´s vast experience following his retirement in
April 2025.
Mr Herman Billung commented: "I am happy that Lars-Christian has decided to
join, in what I firmly believe, will be a very interesting journey in the years
to come. I have learned to know him as an energetic and knowledgeable person,
who I believe is the right person for the job. After more than 35 years in the
dry bulk industry it is important for me to leave the helm with a succession
plan benefitting our shareholders in the best possible manner. I hope that my
experience and network will contribute positively in my new role as a Senior
Advisor. I would like to thank the Board and my colleagues for the trust and
opportunities given to me".
Mr. Lars-Christian Svensen commented: "I am very pleased to join 2020 Bulkers
and Himalaya Shipping, two of the most modern Newcastlemax owners in the world.
With the most efficient fleet in this segment, the companies hold a strategic
advantage that I hope to further develop in my new role. I look forward to
working with the team to utilize the efficiency and decarbonization strategy
already in place and contribute to the fleet's commercial performance. I want to
thank the Owners and the Boards of the respective companies for their confidence
and look forward to playing a central role in creating further
shareholder value".
For further queries, please contact:
Herman Billung, Contracted CEO
Telephone +47918 31590
About Himalaya Shipping Ltd.:
Himalaya Shipping Ltd. is an independent bulk carrier company, incorporated in
Bermuda. Himalaya Shipping has eleven vessels in operation and one Newcastlemax
dry bulk vessel under construction at New Times Shipyard in China. The remaining
newbuilding is expected to be delivered in June 2024.
Forward Looking Statements:
This announcement includes forward looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. These statements include
statements relating to the expected delivery date of our remaining newbuildings
under construction and other non-historical statements. These forward-looking
statements are based on current expectations or beliefs, and are subject to
uncertainty and changes in circumstances. These forward-looking statements are
subject to a number of risks and uncertainties, which could cause the actual
results to differ materially from those indicated in such forward-looking
statements. Such risks include risks relating to the delivery of our remaining
newbuild vessels including the timing thereof and other risks, including those
set forth under "Item 3. Key Information - D. Risk Factors" in our Annual Report
on Form 20-F filed with the U.S. Securities and Exchange Commission. Except as
required by law, we undertake no obligation to update these forward-looking
statements, whether as a result of new information, future events, or otherwise.