Mv Mount Emai newcastlemax newbuilding

Bermuda based drybulk shipowner Himalaya Shipping Ltd. has announced that it has successfully taken delivery of the twelfth and last of its series of 210,000 dwt Newcastlemax dual fuel newbuildings the Company has ordered from Chinese shipbuilder New Times Shipyard (NTS).

The vessel (“Mount Emai”) will be delivered to a major Japanese shipping company and will commence a 23 to 27 months’ time charter, plus an option exercisable by the counterparty for a further 11 to 13 months, and will earn an index-linked rate, reflecting a significant premium to a standard Capesize vessel.

 The time charter also includes a profit sharing of any economic benefit derived from operating the vessel´s scrubber or running on LNG, as well as has certain rights to convert the time charter to a fixed rate, based on the prevailing forward freight agreement (FFA) curve from time to time.

Herman Billung, contracted CEO of Himalaya Shipping, says that “This marks a significant milestone for Himalaya Shipping. We are meeting what we believe will be a very interesting cycle ahead of us with a state-of-the-art fleet representing the youngest and most fuel efficient dry bulk fleet on the water today.”

Source: Himalaya Shipping Ltd.