Himalaya Shipping hands over first dual-fuel Newcastlemax

Source:Ship Technology

China-based New Times Shipyard has delivered the first dual fuel and long-range Newcastlemax vessel to Bermuda-based Himalaya Shipping.

Mount Norefjell is the first of 12 Newcastlemax newbuilds ordered by the Bermudian company.

Himalaya Shipping stated that ‘the vessel will begin a two-year time charter at US$30,000 per day, gross’.

The company expects to receive two more vessels within the next 45 days, as well as three more ships by the end of the year.

Furthermore, the company will receive the remaining six ships by the end of the third quarter of next year.

The vessels will each have a deadweight tonnage (dwt) of 210,000.

Himalaya Shipping contracted CEO Herman Billung said: “We are excited to take delivery of the first vessel, marking the start of commercial operations for Himalaya Shipping. The charter illustrates the superior commercial value our ships deliver to our customers.

“We are thankful to the shipyard, which have delivered a high-quality vessel on time, despite the difficult lock-down situation in China.”

Last October, Himalaya Shipping reached time charter agreements for four vessels with Koch Shipping.

These ships will begin a 24-month time charter with an evergreen structure following their delivery from New Times Shipyard in the second and third quarter of the year, with some options to roll two charters to next year.

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’.