Himalaya Shipping

Himalaya Shipping Ltd. (HSHP) - Time charters of two vessels

Hamilton, Bermuda, 9 October 2023

Himalaya Shipping is pleased to announce it has entered into time charter

agreements for two vessels with a major commodity trading company.

The vessels will commence a 24-month time charter with an evergreen structure

upon delivery from New Times Shipyard in the first half of 2024. The vessels

will earn an index linked rate, reflecting a significant premium to the Baltic

5TC index, and 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 FFA curve from time to

time.

The company has fixed 1 of its vessels on fixed time charter and the 10 vessels

fixed on index linked charter will on average earn a premium of 42% to the

Baltic 5TC.

"We are pleased that our vessels are achieving market high premiums. Our simple

structure, with index linked charters earning a significant premium, low G&A

cost and financing with 7-year fixed bareboat rates puts us in a good position

to deliver solid returns to our shareholders", says Herman Billung contracted

CEO of Himalaya Shipping.

For further queries, please contact:

Herman Billung, Contracted CEO

Telephone +4791831590

About Himalaya Shipping Ltd.:

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

Bermuda. Himalaya Shipping has ordered 12 LNG dual fuel Newcastlemax dry bulk

carriers, 6 of them delivered this year and the remaining 6 to be delivered by

Q3 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. The forward-looking statements in this announcement are based upon

various assumptions, 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 to differ materially

from the expectations expressed or implied by the forward-looking statements

included herein.

AI Terminal