Himalaya Shipping

Board/Management Information • Jun 11, 2024

Himalaya Shipping Ltd. (HSHP) - Organizational Update - Succession Plan for Himalaya Shipping

Himalaya Shipping Ltd. (HSHP) - Organizational Update - Succession Plan for Himalaya Shipping

Hamilton, Bermuda, June 11, 2024

The Board of Directors of 2020 Bulkers Limited have announced today that Mr.

Lars-Christian Svensen will join 2020 Bulkers Management AS as Chief Commercial

Officer on September 1, 2024. Concurrently, Mr. Svensen will also be appointed

Chief Commercial Officer of Himalaya Shipping Ltd., under the management

agreement between 2020 Bulkers Management AS and Himalaya Shipping Ltd.

Mr. Svensen has a 17-year career in international shipping. From 2007 to 2008,

he worked as a shipbroker for Cmarine Services and from 2008 to 2009, he served

as a Project Analyst for Petredec Pte Ltd in Singapore. From 2009 to 2020, Mr.

Svensen was employed by Western Bulk, where he held various positions within the

group in Singapore (Head of Arabian Gulf), Seattle, US (President), and Oslo

(Senior Vice President). From 2020 - 2024, he acted as CCO and CEO of Golden

Ocean Management AS.

Furthermore, the Board of Directors of 2020 Bulkers Limited announced that from

April 1, 2025, Mr. Svensen will transition and will assume the role as Chief

Executive Officer of 2020 Bulkers Management, as well as be appointed as

functioning Chief Executive Officer of Himalaya Shipping Ltd., under the

management agreement between 2020 Bulkers Management AS and Himalaya Shipping

Ltd. This will coincide with the present Chief Executive Officer, Herman

Billung, reaching his retirement age at 67 years. Following his retirement from

his current role as Chief Executive Officer, Mr. Billung will assume a role as

Special Advisor to the Board and Management of 2020 Bulkers Management and

Himalaya Shipping.

The Board of Directors are very pleased to have secured a solid succession plan

for the Companies. Further, we are extremely thankful for the fact that we will

be able to draw on Mr. Billung´s vast experience following his retirement in

April 2025.

Mr Herman Billung commented: "I am happy that Lars-Christian has decided to

join, in what I firmly believe, will be a very interesting journey in the years

to come. I have learned to know him as an energetic and knowledgeable person,

who I believe is the right person for the job. After more than 35 years in the

dry bulk industry it is important for me to leave the helm with a succession

plan benefitting our shareholders in the best possible manner. I hope that my

experience and network will contribute positively in my new role as a Senior

Advisor. I would like to thank the Board and my colleagues for the trust and

opportunities given to me".

Mr. Lars-Christian Svensen commented: "I am very pleased to join 2020 Bulkers

and Himalaya Shipping, two of the most modern Newcastlemax owners in the world.

With the most efficient fleet in this segment, the companies hold a strategic

advantage that I hope to further develop in my new role. I look forward to

working with the team to utilize the efficiency and decarbonization strategy

already in place and contribute to the fleet's commercial performance. I want to

thank the Owners and the Boards of the respective companies for their confidence

and look forward to playing a central role in creating further

shareholder value".

For further queries, please contact:

Herman Billung, Contracted CEO

Telephone +47918 31590

About Himalaya Shipping Ltd.:

Himalaya Shipping Ltd. is an independent bulk carrier company, incorporated in

Bermuda. Himalaya Shipping has eleven vessels in operation and one Newcastlemax

dry bulk vessel under construction at New Times Shipyard in China. The remaining

newbuilding is expected to be delivered in June 2024.

Forward Looking Statements:

This announcement includes forward looking statements within the meaning of the

Private Securities Litigation Reform Act of 1995. These statements include

statements relating to the expected delivery date of our remaining newbuildings

under construction and other non-historical statements. These forward-looking

statements are based on current expectations or beliefs, and are subject to

uncertainty and changes in circumstances. These forward-looking statements are

subject to a number of risks and uncertainties, which could cause the actual

results to differ materially from those indicated in such forward-looking

statements. Such risks include risks relating to the delivery of our remaining

newbuild vessels including the timing thereof and other risks, including those

set forth under "Item 3. Key Information - D. Risk Factors" in our Annual Report

on Form 20-F filed with the U.S. Securities and Exchange Commission.  Except as

required by law, we undertake no obligation to update these forward-looking

statements, whether as a result of new information, future events, or otherwise.