Newcastlemax Bulker Delivered to Himalaya Shipping

Dry bulk shipping company Himalaya Shipping announced it has taken delivery of the fifth in a series of 12 dual-fuel 210,000 dwt Newcastlemax bulk carriers being built by New Times Shipyard.

The vessel, Mount Matterhorn, will commence a 32- to 38-month time charter plus an option for 11 to 13 months and will earn an index-linked rate, reflecting a significant premium to a standard Capesize vessel, Himalaya said. The time charter also includes a profit sharing of any economic benefit derived from operating the vessel's scrubber or running on liquefied natural gas (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.

Herman Billung, CEO of Himalaya Shipping, said, "We are excited to take delivery of the fifth vessel, which is chartered to a leading commodity trading house. The shipyard has again delivered a high-quality vessel slightly ahead of schedule. Mount Matterhorn will add another state-of-the-art vessel to the youngest dry bulk fleet on the water today. The Himalaya ships, which can reduce CO2 emissions by up to 43%, are prepared to meet and benefit from more environmental regulations coming into force."

Himalaya Shipping currently has five vessels in operation and seven Newcastlemax dry bulk vessels under construction at New Times Shipyard in China. The remaining newbuilds are expected to be delivered by July 2024.

The vessels are ECO hull-designed, dual fuel LNG-powered Newcastlemax-sized bulk carriers, each equipped with two LNG tanks providing sufficient capacity for a full round trip from China to South America. In addition to LNG, the vessels are fitted with a scrubber and Tier III-SCR systems as well as being ammonia-ready. The design also includes a shaft generator which ensures lower fuel consumption while sailing.