Himalaya Shipping Ltd. (HSHP) – Delivery of Mount Blanc and commencement of charter

Hamilton, Bermuda, May 31, 2023,

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.

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.

"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.

For further queries, please contact: 

Herman Billung, Contracted CEO 

Telephone +47 918 31 590 

About Himalaya Shipping Ltd.: 

Himalaya Shipping Ltd. is an independent bulk carrier company, incorporated in Bermuda. Himalaya Shipping has four vessels in operation and eight Newcastlemax dry bulk vessels under construction at New Times Shipyard in China. The remaining newbuildings are expected to be delivered by July 2024.

Forward Looking Statements

This announcement includes forward looking statements. Forward looking statements are, typically, statements that do not reflect historical facts and may be identified by words such as "anticipate", "believe", "continue", "estimate", "expect", "intends", "may", "should", "will" and similar expressions, and include statements relating to our statements with respect to the delivery of Mount Blanc and the terms of its charter, statements with respect to the vessels already delivered and our business. The forward-looking statements in this announcement are based upon various assumptions regarding the Company’s present and future business, many of which are based, in turn, upon further assumptions. Although Himalaya Shipping Ltd. believes that these assumptions are reasonable, they are, by their nature, uncertain and subject to significant known and unknown risks, contingencies and other factors which are difficult or impossible to predict and which are beyond our control. Such risks, uncertainties, contingencies and other factors could cause actual events, including the Company’s actual results, performance or achievements, to differ materially from the expectations expressed or implied by the forward-looking statements included herein.