Mount Ita Bulk Carrier Joins Himalaya Shipping Fleet

Bulk carrier company Himalaya Shipping has taken delivery of the second of the twelve 210,000 dwt Newcastlemax newbuildings the company has on order at New Times Shipyard. 

The vessel, named Mount Ita, will start a 32 - 38 month time charter plus option for 11- 13 months and will earn an index-linked rate, reflecting a significant premium to a standard Capesize vessel, Himalaya Shipping said.

Himalaya Shipping further said that the time charters also included 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 charters to fixed rates based on the prevailing forward freight agreement (FFA) curve from time to time. 

Herman Billung, contracted CEO of Himalaya Shipping said: "We are excited to take delivery of the second 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 has delivered a high-quality vessel on time, despite the difficult lock-down situation in China."