Himalaya Shipping is happy to report that it has signed a time charter contract with a significant Japanese equivalent for one vessel, as reported by Market Screener.
Fixed time charter
When the ship is delivered from New Times Shipyard in March or April 2023, a two-year time charter will start. The parties have agreed on a fixed time charter for the entire period at US$30,000 per day, gross.
“We are excited to be able to fix a ship significantly above our cash break-even, even with 2023/2024 Capesize FFA rates being at $14k/day. The latest charter is another proof of the superior commercial value of Himalaya Shipping’s low-emission fleet meeting all expected regulations in the foreseeable future. Himalaya Shipping has in addition to this fixed charter already chartered out 6 vessels on index-linked charters. Our simple structure, with mostly index-linked charters to achieve market high premium to the Baltic 5TC index, low G&A cost and financing with 7-year fixed bareboat rates put us in a good position to deliver solid returns to our shareholders”, says Herman Billung, contracted CEO of Himalaya Shipping.
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Source: Market Screener
