Himalaya Shipping inks charter deals for two LNG-powered bulkers

Himalaya Shipping secured charter deals for two LNG-powered Newcastlemax bulk carriers it has on order at China’s New Times Shipyard.

Tor Olav Trøim’s Himalaya said in a statement on Tuesday that the charterer is a “substantial and reputable counterparty”.

The vessels will start a 22 to 26 months’ time charter, plus an option exercisable by the counterparty for further 11 to 13 months, upon delivery from New Times between January and July 2024, according to Himalaya.

Both vessels will earn an index linked rate, reflecting a significant premium to the Baltic 5TC index (BCI), it said.

The time charters also include a profit sharing of any economic benefit derived from operating the vessels’ 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, Himalaya said.

9 of 12 vessels

Himalaya now chartered out 9 of its 12 LNG dual-fuel Newcastlemax bulk
carriers and “we are witnessing strong interest for the 3 remaining vessels,” it said.

“The premium agreed on these charter agreement is to our knowledge the highest achieved so far, even compared to our own previous agreements,” Herman Billung, contracted CEO of Himalaya, said.

The firm recently took delivery of the fourth LNG-powered vessel in this batch of 12, Mount Blanc.

Earlier this year, Himalaya took delivery of the first vessel, Mount Norefjell, the second vessel, Mount Ita, and the third vessel, Mount Etna.

Most Popular

Glenfarne gets more time to build Texas LNG terminal

US energy firm Glenfarne has secured more time from the US FERC to build and place in service its 4 mtpa Texas LNG export project in Brownsville.

Spot LNG shipping rates slightly up this week

Spot charter rates for the global liquefied natural gas (LNG) carrier fleet rose slightly this week compared to the previous week.

Nigeria LNG seals long-term gas supply deals

LNG producer Nigeria LNG, a joint venture of NNPC, Shell, TotalEnergies, and Eni, has signed six long-term gas agreements to secure supplies for its Bonny Island plant, including the terminal's expansion.

More News Like This

Himalaya converts charter deals for LNG-powered bulker quartet

Himalaya Shipping has converted the index-linked charters to fixed rate time charters for four of its LNG-powered Newcastlemax bulk carriers.

Himalaya’s LNG-fueled bulkers earned $34,500 per day in June

LNG-powered bulker owner Himalaya Shipping achieved average time charter equivalent earnings of about $34,500 per day in June.

Himalaya’s LNG-fueled bulkers earned $25,800 per day in April

LNG-powered bulker owner Himalaya Shipping achieved average time charter equivalent earnings of about $25,800 per day in April.

Himalaya wraps up $15 million private placement

LNG-powered bulker owner Himalaya Shipping has completed a private placement of $15 million in new shares.