EuropeLNG as Fuel

Himalaya Shipping raises cash to fund LNG-powered bulkers

By LNG Prime Staff
Himalaya Shipping raises cash to fund LNG-powered bulkers
For illustration only (Image: New Times Shipbuidling)

Tor Olav Trøim’s Himalaya Shipping has raised about $30 million to fund the company’s newbuilding program of LNG-powered dry bulk carriers.

Himalaya Shipping is a new venture of Norwegian businessman and investor, Tor Olav Trøim, who is also the chairman of Golar LNG.

The firm has ordered up to twelve 208,000-dwt LNG-powered Newcastlemax ships at China’s New Times Shipbuilding.

The order worth about $800 million includes eight firm vessels but also four options, according to brokers.

“Himalaya Shipping Ltd. has successfully raised $30 million to finance part of the equity instalments on the company’s newbuilding program of LNG-powered Newcastlemaxes,” Norway-based Fearnley Securities said.

Fearnley said it has acted as joint global coordinator and bookrunner for the private placement of shares.

The firm did not reveal any additional information.

Norway’s Finansavisen said in a report that Himalaya sourced the funds from Norwegian and international investors.

In addition, Himalaya would use the cash for the first payments to the shipyard, according to the report.

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