Himalaya Shipping

Regulatory Filings • Oct 26, 2023

Himalaya Shipping Ltd. (HSHP) - Time charter of one vessel and extension of six charters

Himalaya Shipping Ltd. (HSHP) - Time charter of one vessel and extension of six charters

Hamilton, Bermuda, October 26, 2023

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

agreement for one vessel with a major Japanese shipping and logistics company.

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

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

Further, the Company has agreed to extend the charter for six of its vessels

with a major commodity trading company by an additional year, until the end of

With this the company has secured employment for its entire fleet, 1 vessel on

fixed time charter and the remaining 11 vessels fixed on index linked charters

will on average earn a premium of 42.25% to the Baltic 5TC.

"Himalaya Shipping has now fully fixed its entire fleet. We are pleased that our

vessels are achieving market high premiums and the fact that one of Himalaya's

counterparts is showing further commitment based on the quality of the fleet and

the experience gained so far trading the ships. 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.