Himalaya welcomes tenth LNG-powered bulker in its fleet

China’s New Times has delivered Himalaya Shipping’s tenth of twelve LNG-powered Newcastlemax bulk carriers.

Himalaya announced the delivery of the 210,000-dwt LNG dual-fuel bulk carrier, Mount Denali, in a statement on Monday.

The last two LNG-powered bulkers, Mount Aconcagua and Emai, are expected to join Himalaya’s fleet in June.

In January, Himalaya took delivery of three 210,000-dwt Newcastlemax LNG dual fuel newbuildings from NTS.

Charter with commodity trader

Himalaya said Mount Denali had been delivered to a “major commodity trading
company” for an initial charter term until December 31, 2026, with an evergreen
structure thereafter.

The vessel will earn an index-linked rate, reflecting a significant premium to a standard Capesize vessel, it said.

The time charter also includes 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 charter to fixed rate based on the prevailing forward freight agreement (FFA) curve from time to time, Himalaya said.

“We are proud of the rapid evolvement of the bompany. By the end of June we will have a sailing fleet of twelve state of the art vessels representing the youngest and most fuel efficient dry bulk fleet on the water today,” Herman Billung, contracted CEO of Himalaya, said.

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