Commercial update:

In March 2024, Himalaya Shipping Ltd. (“Himalaya,” or the “Company”) achieved average time charter equivalent (“TCE”) earnings of approximately US$34,300 per day, gross, including average daily scrubber and LNG benefits on eight vessels of approximately US$3,100 per day.

The Company’s six vessels trading on fixed time charters earned approximately US$28,800 per day, gross, including average daily scrubber and LNG benefits on five vessels. The Company’s three vessels trading on index-linked time charters earned approximately US$45,200 per day, gross, including average daily scrubber and LNG benefits.

The Baltic 5TC Capesize Index averaged US$31,245 during March 2024.

The Company will have the following average rates fixed for vessels that were previously on index linked charters:

April to June 2024: 3 vessels at an average of US$31,514 per day, gross

July to December 2024: 1 vessel at US$40,810 per day, gross

These vessels will continue to earn scrubber premium according to the terms of their respective existing time charter agreements.

Cash distribution:

The Board has approved a cash distribution of US$0.03 per share for March 2024. The distribution will be made from the Company's Contributed Surplus account.

Note to shareholders registered in Euronext VPS, the Norwegian Central Security Depository:

Due to implementation of the Central Securities Depository Regulation (CSDR) in Norway, please note the information regarding the payment date for the shares registered in Euronext VPS below.

Key information:

Distribution amount: US$0.03 per share

Declared currency: US$. Distributions payable to shares registered with Euronext VPS will be paid out in NOK with fixing date on May 3, 2024.

Date of approval: April 8, 2024

Last day including right: April 17, 2024

Ex-date: April 18, 2024

Record date: April 19, 2024

Payment date: On or about May 3, 2024.

Due to the implementation of CSDR in Norway, distributions payable on shares registered with Euronext VPS is expected to be distributed to Euronext VPS shareholders on or about May 8, 2024.

This information is published in accordance with the requirements of the Continuing Obligations.

About Himalaya Shipping Ltd.: 

Himalaya Shipping Ltd. is an independent bulk carrier company, incorporated in Bermuda. Himalaya Shipping has nine vessels in operation and three Newcastlemax dry bulk vessels under construction at New Times Shipyard in China. The remaining newbuildings are expected to be delivered by Q2 2024.

Himalaya Shipping Ltd. press release