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.

- Advertisements -

Most Popular

Cedar LNG FID pushed back

Canada’s Pembina Pipeline and the Haisla Nation have again postponed a final investment decision on their Cedar floating LNG...

Sempra targets Cameron LNG expansion FID in H1 2025

US LNG exporter Sempra Infrastructure, a unit of Sempra, expects to take a final investment decision to expand its...

Hoegh secures LNG carrier charter deal

Norwegian FSRU player Hoegh LNG has secured a new charter contract for its 2013-built LNG carrier Hoegh Gandria. Hoegh revealed...

More News Like This

Magni Partners books more VLCCs in China

Tor Olav Troim’s firm Magni Partners has ordered two more LNG-powered very large crude carriers in China, according to...

Himalaya’s LNG bulkers earned about $28,400 per day in January

LNG-powered bulker owner Himalaya Shipping achieved average time charter equivalent earnings of about $28,400 per day in January. Tor Olav...

Himalaya’s LNG bulkers earned about $34,900 per day in December

LNG-powered bulker owner Himalaya Shipping achieved average time charter equivalent earnings of about $34,900 per day in December 2023. Following...

Himalaya takes delivery of LNG-powered bulkers

Himalaya Shipping has taken delivery of its LNG-powered Newcastlemax bulk carriers in China. New Times delivered the 210,000-dwt LNG dual-fuel,...