Himalaya’s LNG bulkers earned about $36,400 per day in June

LNG-powered bulker owner Himalaya Shipping achieved average time charter equivalent earnings of about $36,400 per day in June.

The shipping firm said in a commercial update that the average time charter rate includes average daily scrubber and LNG benefits on 11 vessels of about $2,000 per day.

Tor Olav Trøim’s Himalaya said its six vessels trading on fixed time charters earned about $33,100 per day, gross, including average daily scrubber and LNG benefits on three vessels.

The company’s six vessels trading on index-linked time charters earned about $37,500 per day, gross, including average daily scrubber and LNG benefits.

The Baltic 5TC Capesize Index averaged $24,924 during June.

In May, Himalaya achieved average time charter equivalent earnings of about $35,700 per day.

Charters converted

Himalaya said it has agreed to convert the index linked charters to fixed charter rates for Mount Blanc and Mount Neblina from July 1, 2024 to July 31, 2024 at an average rate of $35,000 per day plus scrubber premium according to the terms of their existing time charter agreement.

Starting in July, three of its vessels will earn an average of $36,937 per day, gross, while one vessel will earn about $40,810 per day during August-December, according to Himalaya.

These vessels will continue to earn scrubber premium according to the terms of their respective existing time charter agreements.

Last month, China’s New Times has delivered Himalaya’s twelfth and final 210,000-dwt LNG-powered Newcastlemax bulk carrier, Mount Emai.

“We have the youngest and most fuel-efficient fleet in the dry bulk industry. With the orderbook for Capesize ships at 6.5 percent, close to a 30-year low, limited yard capacity until late 2028 and an aging fleet should pave the way for higher utilization in the coming years,” CEO Herman Billung said.

“We are already starting to see the market improving with YTD average Baltic 5TC Capesize Index at $23,700, up 93 percent compared to 2023,” he said.

Billung added that Himalaya would continue its focus on capital discipline with no further investments needed.

Most Popular

Atlantic LNG shipping rates dip to just $18,250 per day

Last week, LNG shipping rates continued to slide in both basins. “Spark30S Atlantic rates have dropped to record lows, reducing...

ExxonMobil CEO says Golden Pass LNG launch could slip into 2026

State-owned QatarEnergy owns a 70 percent stake in the Golden Pass project with a capacity of more than 18...

Kosmos: Tortue FLNG to start production at end of fourth quarter

In February, the 2.5 mtpa FLNG, which was converted from a 1975-built Moss LNG carrier with a storage...

More News Like This

GTT bags services contract from Maran Tankers for LNG-powered vessels

Last year, Maran Tankers ordered eight LNG dual-fuel vessels at China's New Times. Although the future Suezmax vessels will not...

Himalaya’s LNG-fueled bulkers earned $33,500 per day in August

LNG-powered bulker owner Himalaya Shipping achieved average time charter equivalent earnings of about $33,500 per day in August. The shipping...

Himalaya’s LNG bulkers earned about $37,600 per day in July

LNG-powered bulker owner Himalaya Shipping achieved average time charter equivalent earnings of about $37,600 per day in July. The shipping...

Denmark’s Maersk building LNG-powered fleet

Lately, there have been many reports in the shipping industry saying that Maersk is interested in chartering LNG-powered ships. This...