Fourth LNG-powered bulker joins Himalaya Shipping’s fleet

Himalaya Shipping has taken delivery of the fourth of the twelve LNG-powered Newcastlemax bulk carriers in China.

New Times Shipyard delivered the 210,000-dwt LNG dual-fuel, Mount Blanc, on May 31, Tor Olav Trøim’s Himalaya said in a statement.

The Chinese yard launched this ship on March 1.

The vessel will start 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,” according to Himalaya.

Also, the time charter includes 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 charter to fixed rate based on the prevailing forward freight agreement (FFA) curve from time to time, the firm said.

“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,” Herman Billung, contracted CEO of Himalaya, said.

Earlier this year, Himalaya took delivery of the first vessel in this batch, Mount Norefjell, the second vessel, Mount Ita, and the third vessel, Mount Etna, while it also filed for an initial public offering in the United States.

Billung sad that the first three vessels already delivered have successfully traded their first cargoes, loading Australia, Chile, and soon Brazil.

“All technical, operational and commercial parameters have been met, proving quality and performance and meeting expectations,” he said.

“With 1/3 of the vessels delivered and the listing at the NYSE, the company has developed from a business idea into a fully operational dry bulk company with the youngest fleet on the water today,” Billung said.

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