Himalaya’s LNG-fueled bulkers earned $32,400 per day in February

LNG-powered bulker owner Himalaya Shipping achieved average time charter equivalent earnings of approximately $32,400 per day in February.

The shipping firm said in a commercial update that the average time charter rate includes average daily scrubber benefits of approximately $1,200 per day.

Tor Olav Trøim-backed Himalaya said the company’s five vessels trading on fixed
time charters earned approximately $29,400 per day, gross, including average
daily scrubber benefits.

The Company’s seven vessels trading on index-linked time charters earned approximately $34,500 per day, gross, including average daily scrubber benefits.

The Baltic 5TC 180 Capesize Index averaged $24,446 during February.

Himalaya’s board has approved a cash distribution of $0.06 per share for February.

The company has 12 LNG-powered Newcastlemax bulk carriers in its fleet.

China’s New Times delivered Himalaya’s final bulk carrier, Mount Emai, in June 2024.

In January, the company entered into a new time charter agreement for the 2023-built bulker Mount Ita for a period of 11 to 14 months.

The vessel started the new time charter in the second half of January following the planned redelivery under its previous charter.

Himalaya secured a new charter deal for the 2024-built bulker Mount Elbrus in December last year.

In addition, the firm converted the index-linked charters to fixed-rate time charters for four of its LNG-powered Newcastlemax bulk carriers during the same month.

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