Himalaya Shipping

M&A Activity • Oct 17, 2022

Himalaya Shipping Ltd. (HSHIP) - Time charters for four vessels

Himalaya Shipping Ltd. (HSHIP) - Time charters for four vessels

Hamilton, Bermuda, 17 October 2022,

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

agreements for four vessels with Koch Shipping Pte Ltd.

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

upon delivery from New Times Shipyard in the second and third quarter of 2023,

with certain options to roll two charters to 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.

"We have now chartered out 6 vessels on index linked charters with our vessels

achieving market high premium to the Baltic 5TC index. The reception for the

vessels in the market has been above expectations. 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 +47?918 31?590

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 with delivery between Q2 2023 and Q4 2024.