Himalaya Shipping, an independent bulk carrier company incorporated in Bermuda, has taken delivery of the second of the twelve 210,000 deadweight newcastlemax newbuildings the company has on order from New Times Shipyard. The newly build vessel is now chartered on an index-linked time charter, “earning a significant premium to a standard capesize vessel,” as Himalaya´s CEO reveals.
In the previous week the bulk carrier specialist took delivery of the vessel Mount Norefjell, which is the first of the twelve 210,000 deadweight newcastlemax newbuildings, and will commence a two year time charter at US$30,000 per day, gross. The shipyard has managed to deliver on time the vessel despite the lock-down situation in China.
The second vessel “Mount Ita” will commence a 32 to 38 month time charter, plus option for 11-13 months, 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 curve from time to time.
Himalaya Shipping has two vessels in operation and ten Newcastlemax dry bulk vessels under construction at New Times Shipyard in China. The remaining newbuildings are expected to be delivered by August 2024.
“We are excited to take delivery of the second 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 have delivered a high-quality vessel on time, despite the difficult lock-down situation in China.” says Herman Billung, contracted CEO of Himalaya Shipping.
As far as the delivery of the first vessel “Mount Norefjell”, Mr. Herman Billung said the “charter illustrates the superior commercial value our ships deliver to our customers. We are thankful to the shipyard which have delivered a high-quality vessel on time, despite the difficult lock-down situation in China.”