LNG-powered bulker owner Himalaya Shipping achieved average time charter equivalent earnings of about $34,300 per day in March.
Tor Olav Trøim’s Himalaya said in a commercial update that the average time charter rate includes average daily scrubber and LNG benefits on eight vessels of about $3,100 per day.
The company’s six vessels trading on a fixed time charter earned $28,800 per day, gross, including average daily scrubber and LNG benefits on five vessels.
Moreover, the company’s three vessels trading on index-linked time charters earned about $45,200 per day, gross.
The Baltic 5TC Capesize Index averaged $31,245 during March.
In February, Himalaya achieved average time charter equivalent earnings of about $30,000 per day.
Charters converted
Himalaya took delivery in January of three 210,000-dwt Newcastlemax LNG dual fuel newbuildings from China’s New Times Shipyard.
Following these deliveries, the company now welcomed 9 of twelve vessels from New Times.
New Times is also finalizing work on Himalaya Shipping’s tenth LNG-powered bulk carrier.
Himalaya said in February it has agreed to convert the index linked charter to a fixed charter rate for Mount Etna.
From April to June, three of its vessels which were previously on index linked charters will earn an average of $31,514 per day, gross, while one vessel will earn about $40,810 per day during July-December, according to Himalaya.
The company said its board has approved a cash distribution of $0.03 per share for March.