Himalaya Shipping welcomes second LNG-fueled bulker in its fleet

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

New Times Shipyard delivered the 208,000-dwt LNG dual-fuel, Mount Ita, on March 9, Tor Olav Trøim’s Himalaya said in a statement.

The vessel will start a 32-38 month time charter plus option for 11-13 months and will earn index-linked rate, reflecting a significant premium to a standard Capesize vessel, according to Himalaya.

Also, the time charters 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 (FFA) curve from time to time, the firm said.

“We are thankful to the shipyard which have delivered a high-quality vessel on time, despite the difficult lock-down situation in China,” Herman Billung, contracted CEO of Himalaya, said.

Himalaya Shipping welcomes second LNG-fueled bulker in its fleet
Mount Norefjell (Image: Himalaya Shipping)

Himalaya recently took delivery of the first vessel in this batch, Mount Norefjell, and also filed for an initial public offering in the United States.

It expects to take delivery of one more vessel in March-April, and another three vessels by the end of 2023.

The remaining six vessels are expected to be delivered by the end of third quarter 2024.

- Advertisements -

Most Popular

Golden Pass LNG to speed up pipeline construction

QatarEnergy and ExxonMobil are seeking approval from US energy regulators to increase the peak workforce to speed up the...

China’s Wison wins Indonesian FLNG gig from Genting

China's Wison New Energies has secured a contract from a unit of Genting to build a floating LNG unit...

US FERC to decide on Venture Global’s CP2 LNG project

The US FERC is set to decide next week on Venture Global LNG's proposed CP2 LNG project in Louisiana. According...

More News Like This

Himalaya takes delivery of twelfth LNG-powered bulker

China’s New Times has delivered Himalaya Shipping’s twelfth and final LNG-powered Newcastlemax bulk carrier. Himalaya and New Times announced the...

Himalaya welcomes eleventh LNG-powered bulker in its fleet

China’s New Times has delivered Himalaya Shipping’s eleventh of twelve LNG-powered Newcastlemax bulk carriers. Himalaya announced the delivery of the...

Seaspan eyes order for LNG-powered containerships in China

Seaspan has signed a letter of intent with China's Hudong-Zhonghua to build LNG dual-fuel container vessels, according to shipbuilding...

NTS floats out LNG-powered bulker for EPS

China’s New Times Shipbuilding hosted a launching ceremony for one LNG-powered bulk carrier it is building for Singapore's Eastern...