China’s New Times has delivered Himalaya Shipping’s twelfth and final LNG-powered Newcastlemax bulk carrier.
Himalaya and New Times announced the delivery of the 210,000-dwt LNG dual-fuel bulk carrier, Mount Emai, in separate statements.
The vessel was handed over on June 13.
Earlier this month, Himalaya took delivery of Mount Aconcagua.
Charter with Japanese shipping firm
Himalaya said Mount Emai will be delivered to a major Japanese shipping company, such as Mount Aconcagua.
The ship will start a 23 to 27 months’ time charter, plus an option exercisable by the counterparty for a further 11 to 13 months, 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 has certain rights to convert the time charter to a fixed rate, based on the prevailing forward freight agreement (FFA) curve from time to time, it said.
Himalaya thanked New Times for this project which included the construction of twelve LNG-powered ships saying the shipbuilder has “proven to be able to deliver high-quality vessels always ahead of contractual delivery dates.”
“This marks a significant milestone for Himalaya Shipping. We are meeting what we believe will be a very interesting cycle ahead of us with a state of the art fleet representing the youngest and most fuel efficient dry bulk fleet on the water today,” Herman Billung, contracted CEO of Himalaya said.
Svensen to take over as CEO in 2025
Himalaya also recently announced that Lars-Christian Svensen will be appointed as its chief commercial officer under the management agreement between 2020 Bulkers Management and Himalaya.
Furthermore, from April 1, 2025, Svensen will transition and will assume the role as CEO of 2020 Bulkers Management, as well as be appointed as functioning CEO of Himalaya.
This will coincide with the present CEO Billung reaching his retirement age at 67 years.
Following his retirement from his current role as CEO, Billung will assume a role as a special advisor to the board and management of 2020 Bulkers Management and Himalaya.