LNG-Fueled Bulker Joins Himalaya Shipping’s Fleet

Credits: Tatiana Meel/REUTERS

Himalaya Shipping has taken delivery of its fifth LNG-powered Newcastlemax bulk carrier in China, says an article published on Lng Prime.

Reflecting a significant premium

New Times delivered the 210,000-dwt LNG dual-fuel, Mount Matterhorn, on July 13, the shipbuilder said in a statement.

This is the fifth of the twelve 210,000-dwt Newcastlemax dual-fuel newbuildings Himalaya has on order at NTS.

Tor Olav Trøim’s Himalaya said in a separate statement that the new bulker will start a 32-to-38-month time charter plus an option for 11 to 13 months and will also earn an index-linked rate, reflecting a significant premium to a standard Capesize vessel.

Economic benefit 

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 rate based on the prevailing forward freight agreement (FFA) curve from time to time, it said.

Leading commodity trading

Herman Billung, contracted CEO of Himalaya, said in the statement that vessel the chartere of the vessel is a “leading commodity trading house.”

It is one of the four vessels Koch Logistics chartered from Himalaya in October 2022.

High-quality vessel

Moreover, Billung said that NTS has again delivered a “high-quality vessel slightly ahead of schedule.”

“The Himalaya ships, which can reduce CO2 emissions by up to 43 percent, are prepared to meet and benefit from more environmental regulations coming into force,” he added.

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Source: Lng Prime