Himalaya Shipping has converted two more index-linked charters for Newcastlemax vessels to a fixed rate averaging $53,000 per day.
The agreements will run for seven months, from September 1, 2026, through March 31, 2027. The names of the vessels and charterers have not been disclosed. The combined gross charter revenue for the two bulk carriers over this period is estimated at approximately $22.5 million.
Earlier in August, the company similarly converted two more index-linked charters to a fixed rate averaging $51,200 per day. The rate applies from August through the end of December 2026. In addition to the fixed rate, these vessels will continue to benefit from the use of scrubbers.
Revenue-Fixing Strategy
Himalaya Shipping is increasingly exercising the option under its index-linked contracts to switch to fixed rates as the forward market strengthens. The company’s chartering model provides exposure to the Baltic 5TC Capesize benchmark while also allowing it to lock in rates based on the forward freight agreement curve.
In the second quarter, Himalaya Shipping’s fleet of 12 vessels earned an average of $50,600 per day, while the Baltic 5TC 180 Capesize index averaged $36,303. In June, four of the company’s vessels operated at a fixed rate averaging $56,500 per day.
Himalaya Shipping’s fleet consists entirely of 210,000-dwt Newcastlemax bulk carriers equipped with dual-fuel propulsion systems capable of using LNG. All vessels were delivered to the company in 2023 and 2024.
GLOAPM.COM