Himalaya Shipping is pleased to announce that it has successfully taken delivery of the fourth of the twelve 210,000 dwt Newcastlemax newbuildings the Company has on order from New Times Shipyard, says an article published on Cision.
Prevailing forward freight agreement
The vessel (“Mount Blanc”) will commence a minimum 24 month charter with an evergreen structure thereafter and will earn an index-linked rate, reflecting a significant premium to a standard Capesize vessel.
The time charter also include 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.
Performance and meeting expectations
“We are excited to take delivery of the fourth vessel, which is chartered on an index-linked time charter, earning a significant premium to a standard Capesize vessel. We are thankful to the shipyard which again has delivered a high-quality vessel slightly ahead of schedule, despite the previous difficult lock-down situation in China. The first three vessels already delivered have successfully traded their first cargoes, loading Australia, Chile and soon Brazil. All technical, operational and commercial parameters have been met, proving quality and performance and meeting expectations. With 1/3 of the vessels delivered and the listing at the NYSE, the Company has developed from a business idea into a fully operational dry bulk company with the youngest fleet on the water today” says Herman Billung, contracted CEO of Himalaya Shipping.
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