Himalaya Shipping raises cash to fund LNG-powered bulkers

Tor Olav Trøim’s Himalaya Shipping has raised about $30 million to fund the company’s newbuilding program of LNG-powered dry bulk carriers.

Himalaya Shipping is a new venture of Norwegian businessman and investor, Tor Olav Trøim, who is also the chairman of Golar LNG.

The firm has ordered up to twelve 208,000-dwt LNG-powered Newcastlemax ships at China’s New Times Shipbuilding.

The order worth about $800 million includes eight firm vessels but also four options, according to brokers.

“Himalaya Shipping Ltd. has successfully raised $30 million to finance part of the equity instalments on the company’s newbuilding program of LNG-powered Newcastlemaxes,” Norway-based Fearnley Securities said.

Fearnley said it has acted as joint global coordinator and bookrunner for the private placement of shares.

The firm did not reveal any additional information.

Norway’s Finansavisen said in a report that Himalaya sourced the funds from Norwegian and international investors.

In addition, Himalaya would use the cash for the first payments to the shipyard, according to the report.

- Advertisements -

Most Popular

Brazil’s GNA gets approval to launch first LNG power plant

Brazilian joint venture Gas Natural Acu has commissioned the first plant as part of its LNG-to-power project in the...

Canada’s FortisBC shrinks expansion plans for Tilbury LNG

Canadian utility FortisBC is scaling back expansion plans for its Tilbury LNG facility in British Columbia. The second expansion phase...

Stena adds LNG power barge to its portfolio

A unit of Sweden’s Stena said it has expanded its jetty-less LNG offering with an integrated power barge (IPB). The...

More News Like This

Golar fixes LNG carrier on five-year charter

Golar LNG has recently fixed one of the company's LNG carriers on a five-year charter, boosting its shipping revenue...

Golar’s Cameroon FLNG ships 59th cargo

Golar’s Hilli Episeyo, world’s first converted FLNG vessel, has recently dispatched the 59th cargo since it started operations more...

Golar, partners finally agree to boost utilization of Cameroon FLNG

Golar LNG has finally agreed with its partners to boost utilization of the FLNG Hilli Episeyo located offshore Kribi,...

Three new LNG-powered bulkers to get MAN ME-GI engines

China’s New Times Shipbuilding has ordered MAN ME-GI engines for three LNG-powered dry bulk carriers the yard is building...