Commercial update:
In August 2024, Himalaya Shipping Ltd. (“Himalaya,” or the “Company”) achieved average time charter equivalent (“TCE”) earnings of approximately US$33,500 per day, gross1, including average daily scrubber and LNG benefits on eleven vessels of approximately US$1,600 per day. The Company’s two vessels trading on fixed time charters earned approximately US$36,500 per day, gross, including average daily scrubber and LNG benefits on one vessel. The Company’s ten vessels trading on index-linked time charters earned approximately US$32,800 per day, gross, including average daily scrubber and LNG benefits.
The Baltic 5TC Capesize Index averaged US$21,714 during August 2024.
The Company has agreed to convert the index linked charters to fixed charter rates for Mount Blanc, Mount Neblina and Mount Hua from September 1, 2024 to September 30, 2024 at an average rate of US$35,727 per day plus scrubber premium according to the terms of their existing time charter agreements.
The Company will have the following average rates fixed for vessels that were previously on index linked charters:
September 2024: 4 vessels at US$36,998 per day, gross
October to December 2024: 1 vessel at US$40,810 per day, gross
These vessels will continue to earn scrubber premium according to the terms of their existing time charter agreements.
Cash distribution:
The Board has approved a cash distribution of US$0.07 per share for August 2024. The distribution will be made from the Company's Contributed Surplus account.
Note to shareholders registered in Euronext VPS, the Norwegian Central Security Depository:
Due to implementation of the Central Securities Depository Regulation (CSDR) in Norway, please note the information regarding the payment date for the shares registered in Euronext VPS below.
Key information:
Distribution amount: US$0.07 per share
Declared currency: US$. Distributions payable to shares registered with Euronext VPS will be paid out in NOK with fixing date on September 30, 2024.
Date of approval: September 5, 2024
Record date: September 17, 2024
Payment date: On or about September 30, 2024.
Due to the shortening of the Settlement Cycle in the US markets, the following dates apply to shares traded in the New York Stock Exchange:
Last day including right: September 16, 2024
Ex-date: September 17, 2024
The following dates apply to shares traded on Euronext:
Last day including right: September 13, 2024
Ex-date: September 16, 2024
Due to the implementation of CSDR in Norway, distributions payable on shares registered with Euronext VPS is expected to be distributed to Euronext VPS shareholders on or about October 3, 2024.
