Herman Billung contracted CEO
Bermuda-based dry bulk owner Himalaya Shipping reported that its dual-fuel newcastlemax dry bulk fleet earned around $28,400 per day, gross, which is more than it was expected.
Specifically, the average time charter equivalent (TCE) earnings of the owner were about $28,400 per day, gross during January.
At the same time the Baltic 5TC capesize index averaged $20,565 during January 2024.
Two Himalaya Shipping newcastlemax bulkers also have had their index-linked charters converted to fixed-rate time charters.
The fixed contracts for the 210,000-dwt Mount Bandeira and Mount Hua vessels began on February 1, 2024 until June 30, 2024.
As the shipowner reveals, six of the company’s vessels trading on a fixed-time charter earned $28,600 per day, gross, including average daily scrubber and LNG benefits on five vessels of around $2,800 per day.
Furthermore, the company’s three vessels trading on index-linked time charters earned approximately US$28,000 per day, gross, including average daily scrubber and LNG benefits of around $3,000 per day.
The index-linked vessels were delivered to their charterers to commence their time charters between 8-15 of January.
The Himalaya’s cash break-even TCE is estimated to be approximately $24,600 per day.
Himalaya Shipping has nine vessels in operation and three newcastlemax dry bulkers under construction at New Times Shipyard in China.
The remaining newbuildings are expected to be delivered by the second quarter of 2024.
