Commercial update:
In January 2025, Himalaya Shipping Ltd. (“Himalaya,” or the “Company”) achieved average time charter equivalent (“TCE”) earnings of approximately US$17,900 per day, gross[1], including average daily scrubber and LNG benefits on eleven vessels of approximately US$2,100 per day. The Company’s one vessel trading on a fixed time charter earned approximately US$30,000 per day, gross. The Company’s eleven vessels trading on index-linked time charters earned approximately US$16,700 per day, gross, including average daily scrubber and LNG benefits.
The Baltic 5TC Capesize Index averaged US$10,150 during January 2025.
The Company has entered into a new time charter agreement for the Mount Norefjell. The vessel will commence a 14 to 38 month time charter, following the planned redelivery from its current charterer in late February 2025. The vessel will earn an index linked rate, reflecting a premium to the Baltic 5TC index that is higher than the average premium on our current charters of 42.25%. 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 rates based on the prevailing FFA curve from time to time.
Following this, the Company will have 12 vessels trading on index-linked time charters.
Cash distribution:
The Board has approved a cash distribution of US$0.005 per share for January 2025. 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$0.005 per share
Declared currency: US$. Distributions payable to shares registered with Euronext VPS will be paid out in NOK with fixing date on March 5, 2025.
Date of approval: February 10, 2025
Record date: February 21, 2025
Payment date: On or about March 5, 2025.
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: February 20, 2025
Ex-date: February 21, 2025
The following dates apply to shares traded on Euronext:
Last day including right: February 19, 2025
Ex-date: February 20, 2025
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 March 10, 2025.
