Himalaya Shipping Ltd. announces time charters for two vessels
Himalaya Shipping has announced that it has entered into time charter agreements for two vessels with a substantial and reputable counterparty.
The vessels will commence a 22 to 26 months’ time charter, plus an option exercisable by the counterparty for further 11 to 13 months, upon delivery from New Times Shipyard between January and July 2024. Both vessels will earn an index linked rate, reflecting a significant premium to the Baltic 5TC index (BCI).
The time charters also include a profit sharing of any economic benefit derived from operating the vessels’ 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.
The company has chartered out nine of its 12 twelve dual fuel Newcastlemax bulk carriers and is witnessing strong interest for the three remaining vessels.
“The premium agreed on these charter agreement is to our knowledge the highest achieved so far, even compared to our own previous agreements” says Herman Billung, contracted CEO of Himalaya Shipping.
Read the article online at: https://www.drybulkmagazine.com/dry-bulk/09062023/himalaya-shipping-ltd-announces-time-charters-for-two-vessels/
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