Himalaya Shipping Charters out Newcastlemax Newbuild over Two Years Minimum

Photo credit: Himalaya Shipping / vessel: Mount Ita

Himalaya Shipping, an independent dry bulk carrier company incorporated in Bermuda, has added the third of the twelve 210,000 deadweight Newcastlemax newbuildings to its fleet portfolio.

The vessel Mount Etna has been delivered to the company from New Times Shipyard and will commence a minimum 24 month charter, earning a significant premium to a standard Capesize vessel, as the dry bulk company claims. Specifically, the vessel will commence a minimum 24 month charter with an evergreen structure thereafter and will earn an index-linked rate, reflecting a significant premium to a standard Capesize vessel.

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 forward freight agreement (FFA) curve from time to time.

“We are excited to take delivery of the third vessel, which is chartered on an index-linked time charter, earning a significant premium to a standard Capesize vessel. We are thankful to the shipyard which again has delivered a high-quality vessel slightly ahead of schedule, despite the previous difficult lock-down situation in China.” says Herman Billung, contracted CEO of Himalaya Shipping.

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