Hamilton, Bermuda, February 27, 2025
Himalaya Shipping Ltd. advises that the 2025 Annual General Meeting of the Company will be held on May 21, 2025 at its registered office in Bermuda. The record date for voting at the Annual General Meeting is set to March 11, 2025.
A copy of the notice, agenda and associated material will be distributed to shareholders by normal distribution methods prior to the meeting and will also be made available on the Company’s website at www.himalaya-shipping.com.
Hamilton, Bermuda, February 20, 2025
Himalaya Shipping Ltd. (“Himalaya,” “Himalaya Shipping” or the “Company”) announces preliminary unaudited results for the three and twelve months ended December 31, 2024.
Highlights for the Fourth Quarter of 2024
Subsequent Events
Contracted CEO, Herman Billung commented:
“The average Baltic Capesize Index (BCI) for 2024 concluded at $22,593 per day. After nine months of relative stability, the BCI experienced a decline, averaging $18,301 per day in the fourth quarter of 2024. The first three quarters of 2024 saw growth in ton miles: a 6.7% increase in iron ore, a 13.7% increase in bauxite, but a 4.6% decrease in coal, leading to an overall increase of 5.5%. However in the fourth quarter of 2024, ton miles declined by 0.8%, primarily driven by an 8.6% decrease in coal. This decrease can be attributed to the splitting of Capesize coal cargoes into smaller sizes for transportation by Panamax vessels, as evidenced by the 4.2% increase in ton miles in the fourth quarter.
As we enter the first quarter of 2025, the Capesize market continues to face challenges, with BCI rates averaging $8,807 per day. This decline is partly seasonal, but the ongoing cannibalization of the coal trade in favor of smaller ships remains a negative factor.
Despite the short-term pressures, we maintain a positive long-term outlook for large dry bulk ships. The current order book of new Capesize vessels stands at a historic low of only 7.2% of the existing fleet, and yard capacity is down 50% from its peak. Additionally, 20% of the entire fleet will be 20 years old by 2028, which is the earliest opportunity for meaningful fleet expansion. Furthermore, 23% of the total Capesize fleet will require drydocking in 2025 due to 5, 10, 15 and 20-year Special Surveys compared to only 13.6% in 2024.
The Company remains optimistic about significant growth in ton miles, driven by increased iron ore production capacity in the Atlantic from Guinea (120 MT) and Brazil (50 MT), both producers of high-quality iron ore. Should these volumes replace domestically produced iron ore in China, we anticipate a need for an additional 232 Capesize vessels, which is nearly 60% higher than the current order book. Additionally, we expect continued growth in bauxite exports out of Guinea, further fuelling the demand for ton miles.
In the long-term, we expect rising global population and industrialization, coupled with the growing distance between raw material production and end consumers, to lead to sustained demand for large dry bulk vessels. Historically, ton mile demand for Capesize vessels has increased by 5.9% since 2002.
All of our 12 vessels are employed on index-linked charters, earning on average a premium of 42.5% over the Baltic 5TC index, with profit sharing of any economic benefit derived from operating the vessel’s scrubber or running on LNG. As a result of our long-term financing, our breakeven point is approximately $16,000 per day on a Capesize index equivalent basis. Most of the excess cash-flow above this threshold is expected to be returned to shareholders through monthly dividends.”
[1] The Company uses certain financial information calculated on a basis other than in accordance with accounting principles generally accepted in the United States (US GAAP) including average TCE earnings, gross and Adjusted EBITDA. Average TCE earnings, gross, as presented above, represents time charter revenues and voyage charter revenues adding back address commissions and divided by fleet operational days. Please refer to the appendix of this release for a reconciliation of this non-GAAP measure to the most directly comparable financial measures prepared in accordance with US GAAP.
[2] Adjusted EBITDA as presented above represents our net income (loss) plus depreciation of vessels and equipment; any loss from equity method investment; total financial expenses, net; and income tax expense. Please refer to the appendix of this report for a reconciliation of Adjusted EBITDA to net income.
The shares in Himalaya Shipping Ltd. will be traded on Euronext Expand Oslo ex cash distribution US$0.005 as from today, February 20, 2025.
Due to the shortening of the Settlement Cycle in the US markets, ex cash distribution date for shares traded on the New York Stock Exchange will be on February 21, 2025.
Hamilton, Bermuda, February 11, 2025
Commercial update:
In January 2025, Himalaya Shipping Ltd. (“Himalaya,” or the “Company”) achieved average time charter equivalent (“TCE”) earnings of approximately US$17,900 per day, gross[1], including average daily scrubber and LNG benefits on eleven vessels of approximately US$2,100 per day. The Company’s one vessel trading on a fixed time charter earned approximately US$30,000 per day, gross. The Company’s eleven vessels trading on index-linked time charters earned approximately US$16,700 per day, gross, including average daily scrubber and LNG benefits.
The Baltic 5TC Capesize Index averaged US$10,150 during January 2025.
The Company has entered into a new time charter agreement for the Mount Norefjell. The vessel will commence a 14 to 38 month time charter, following the planned redelivery from its current charterer in late February 2025. The vessel will earn an index linked rate, reflecting a premium to the Baltic 5TC index that is higher than the average premium on our current charters of 42.25%. The time charter also includes 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 charter to fixed rates based on the prevailing FFA curve from time to time.
Following this, the Company will have 12 vessels trading on index-linked time charters.
Cash distribution:
The Board has approved a cash distribution of US$0.005 per share for January 2025. 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$0.005 per share
Declared currency: US$. Distributions payable to shares registered with Euronext VPS will be paid out in NOK with fixing date on March 5, 2025.
Date of approval: February 10, 2025
Record date: February 21, 2025
Payment date: On or about March 5, 2025.
Due to the shortening of the Settlement Cycle in the US markets, the following dates apply to shares traded in the New York Stock Exchange:
Last day including right: February 20, 2025
Ex-date: February 21, 2025
The following dates apply to shares traded on Euronext:
Last day including right: February 19, 2025
Ex-date: February 20, 2025
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 March 10, 2025.
This information is published in accordance with the requirements of the Continuing Obligations.
For further queries, please contact:
Herman Billung, Contracted CEO
Telephone +47918 31590
About Himalaya Shipping Ltd.:
Himalaya Shipping Ltd. is an independent bulk carrier company, incorporated in Bermuda. Himalaya Shipping has twelve vessels in operation.
Forward Looking Statements:
This announcement includes forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include non-historical statements. These forward-looking statements are based on current expectations or beliefs, and are subject to uncertainty and changes in circumstances. These forward-looking statements are subject to a number of risks and uncertainties, which could cause the actual results to differ materially from those indicated in such forward-looking statements. Such risks are set forth under “Item 3. Key Information — D. Risk Factors” in our Annual Report on Form 20-F for the year ended December 31, 2023 filed with the U.S. Securities and Exchange Commission. Except as required by law, we undertake no obligation to update these forward-looking statements, whether as a result of new information, future events, or otherwise.
[1] Average TCE earnings, gross is a non-U.S. GAAP measure of the average daily revenue performance of a vessel. Average TCE earnings, gross, when used by the Company, means time charter revenues and voyage charter revenues adding back address commissions, and divided by fleet operational days. Our management believes average TCE earnings, gross can provide additional meaningful information for investors to analyze our fleets’ daily income performance. Our calculation of such figure may not be comparable to that reported by other companies. Please see Appendix A for reconciliation of this measure to the nearest U.S. GAAP measure.
Appendix A – Reconciliation of Non-U.S. GAAP Measures
Time Charter Equivalent (‘TCE”) Earnings, gross
The following table sets forth a reconciliation of time charter revenues to the average TCE earnings, gross (unaudited) for the period presented:
| (In millions of U.S. dollars except per day data) | For the one-month period ended January 31, 2025 |
|
| Time charter revenues | $ | 6.4 |
| Address commission | $ | 0.2 |
| Operating revenues, gross | $ | 6.6 |
| Fleet operational days | 372 | |
| Average TCE Earnings, gross | $ | 17,900 |
Hamilton, Bermuda, November 7, 2024
Commercial update:
In October 2024, Himalaya Shipping Ltd. (“Himalaya,” or the “Company”) achieved average time charter equivalent (“TCE”) earnings of approximately US$31,700 per day, gross1, including average daily scrubber and LNG benefits on eleven vessels of approximately US$1,700 per day. The Company’s one vessel trading on a fixed time charter earned approximately US$30,000 per day, gross. The Company’s eleven vessels trading on index-linked time charters earned approximately US$31,900 per day, gross, including average daily scrubber and LNG benefits.
The Baltic 5TC Capesize Index averaged US$20,903 during October 2024.
Cash distribution:
The Board has approved a cash distribution of US$0.04 per share for October 2024. The distribution will be made from the Company’s Contributed Surplus account. The decrease in cash distribution in comparison to the previous month reflects a decrease in the market and the requirement to build the final step-up in minimum cash to $12.3 million by December 2024 in accordance with the covenants in our financing arrangements.
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$0.04 per share
Declared currency: US$. Distributions payable to shares registered with Euronext VPS will be paid out in NOK with fixing date on November 29, 2024.
Date of approval: November 6, 2024
Record date: November 18, 2024
Payment date: On or about November 29, 2024.
Due to the shortening of the Settlement Cycle in the US markets, the following dates apply to shares traded in the New York Stock Exchange:
Last day including right: November 15, 2024
Ex-date: November 18, 2024
The following dates apply to shares traded on Euronext:
Last day including right: November 14, 2024
Ex-date: November 15, 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 December 4, 2024.
This information is published in accordance with the requirements of the Continuing Obligations.
For further queries, please contact:
Herman Billung, Contracted CEO
Telephone +47918 31590
About Himalaya Shipping Ltd.:
Himalaya Shipping Ltd. is an independent bulk carrier company, incorporated in Bermuda. Himalaya Shipping has twelve vessels in operation.
Forward Looking Statements:
This announcement includes forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include non-historical statements. These forward-looking statements are based on current expectations or beliefs, and are subject to uncertainty and changes in circumstances. These forward-looking statements are subject to a number of risks and uncertainties, which could cause the actual results to differ materially from those indicated in such forward-looking statements. Such risks are set forth under “Item 3. Key Information — D. Risk Factors” in our Annual Report on Form 20-F for the year ended December 31, 2023 filed with the U.S. Securities and Exchange Commission. Except as required by law, we undertake no obligation to update these forward-looking statements, whether as a result of new information, future events, or otherwise.
[1] Average TCE earnings, gross is a non-U.S. GAAP measure of the average daily revenue performance of a vessel. Average TCE earnings, gross, when used by the Company, means time charter revenues and voyage charter revenues adding back address commissions, and divided by fleet operational days. Our management believes average TCE earnings, gross can provide additional meaningful information for investors to analyze our fleets’ daily income performance. Our calculation of such figure may not be comparable to that reported by other companies. Please see Appendix A for reconciliation of this measure to the nearest U.S. GAAP measure.
Appendix A – Reconciliation of Non-U.S. GAAP Measures
Time Charter Equivalent (‘TCE”) Earnings, gross
The following table sets forth a reconciliation of time charter revenues to the average TCE earnings, gross (unaudited) for the period presented:
|
(In millions of U.S. dollars except per day data) |
For the one-month period ended October 31, 2024 |
|
|
Time charter revenues |
$ |
11.4 |
|
Address commission |
$ |
0.4 |
|
Operating revenues, gross |
$ |
11.8 |
|
|
|
|
|
Fleet operational days |
|
372 |
|
Average TCE Earnings, gross |
$ |
31,700 |
Hamilton, Bermuda, November 7, 2024
Himalaya Shipping Ltd. (“Himalaya,” “Himalaya Shipping” or the “Company”) announces preliminary unaudited results for the three and nine months ended September 30, 2024.
Highlights for the Third Quarter of 2024
• Total operating revenues of $39.2 million, which is an average time charter equivalent (“TCE”) earnings of approximately $36,800 per day, gross1. Average Baltic 5TC Capesize Index was $24,909 per day.
• Net income of $10.7 million and Adjusted EBITDA2 of $31.0 million for the third quarter of 2024.
• Conversion of index linked charters on Mount Blanc and Mount Neblina to fixed charters from July 1, 2024 to July 31, 2024 and on Mount Blanc, Mount Neblina and Mount Hua from September 1, 2024 to September 30, 2024.
• Acquisition of 40% of the shares of 2020 Bulkers Management AS, the company providing key management services to Himalaya Shipping, to fully align the management functions with Himalaya Shipping.
• Payment of cash distributions for May, June, July and August 2024 of $0.04, $0.05, $0.06 and $0.07 per common share, respectively.
Subsequent Events
• Conversion of Mount Etna back to index linked rates from October 1, 2024.
• Declaration and payment of cash distribution for September 2024 of $0.10 per common share in October 2024. Declaration of cash distribution for October 2024 of $0.04 per common share in November 2024.
• Execution of an addendum to the Drew revolving credit facility of up to $10 million, extending the timeframe to drawdown from the facility to December 31, 2025 and the latest repayment date to December 31, 2026.
Contracted CEO, Herman Billung commented:
“2024 started strong with the Baltic Capesize index at $23,970 per day for the first 9 months. This is almost double the level from 2023 at $12,628 per day. Himalaya has had most of its fleet operating in this improving spot market, with 11 of 12 ships currently on index related charters. Due to Himalaya’s superior fleet profile, we are earning on average 42% premium to the Baltic Capesize index when trading in the spot market.
In the most recent weeks, the market has experienced a counter seasonal set back. This was driven by a lower Panamax sentiment attacking traditional Capesize coal trades, and a fiscal stimulus package from China that disappointed some market watchers. However, with limited supply of large bulk carriers entering the marketplace in the coming years and an aging fleet, we expect utilization and rates to improve going forward. Ton mile demand is up by 5.4% in the first three quarters of 2024 compared to the same period last year. We expect this to continue, driven by more iron ore production in the Atlantic Basin, with 120 mt of new production capacity coming in Guinea and 50 mt in Brazil.
The Company has continued paying monthly distributions to its shareholders. In aggregate, we have declared cash distributions of $0.43 per share for the nine months ended September 30, 2024. The cash distributions will fluctuate with dry bulk market developments. Substantially all earnings above cash break-even of approximately $16,000 per day (Capesize equivalent rate) are expected to be paid back to shareholders.”
[1] The Company uses certain financial information calculated on a basis other than in accordance with accounting principles generally accepted in the United States (US GAAP) including average TCE earnings, gross and Adjusted EBITDA. Average TCE earnings, gross, as presented above, represents time charter revenues and voyage charter revenues adding back address commissions and divided by fleet operational days. Please refer to the appendix of this release for a reconciliation of this non-GAAP measure to the most directly comparable financial measures prepared in accordance with US GAAP.
[2] Adjusted EBITDA as presented above represents our net income (loss) plus depreciation of vessels and equipment; total financial expenses, net; and income tax expense. Please refer to the appendix of this report for a reconciliation of this non-GAAP financial measure to the most directly comparable financial measures prepared in accordance with US GAAP.
The shares in Himalaya Shipping Ltd. will be traded on Euronext Expand Oslo ex cash distribution US$0.10 as from today, October 17, 2024.
Due to the shortening of the Settlement Cycle in the US markets, ex cash distribution date for shares traded on the New York Stock Exchange will be on October 18, 2024.
Hamilton, Bermuda, October 8, 2024
Commercial update:
In September 2024, Himalaya Shipping Ltd. (“Himalaya,” or the “Company”) achieved average time charter equivalent (“TCE”) earnings of approximately US$39,500 per day, gross1, including average daily scrubber and LNG benefits on eleven vessels of approximately US$1,900 per day. The Company’s five vessels trading on fixed time charters earned approximately US$37,900 per day, gross, including average daily scrubber and LNG benefits on four vessels. The Company’s seven vessels trading on index-linked time charters earned approximately US$40,600 per day, gross, including average daily scrubber and LNG benefits.
The Baltic 5TC Capesize Index averaged US$27,410 during September 2024.
The Company has agreed to convert the Mount Etna back to index-linked rates from October 1, 2024. The agreed conversion rate is US$38,780 from the original conversion rate of US$40,810. The difference between these rates will be added to the Baltic 5TC Capesize Index in addition to the premium under the existing time charter agreement until December 31, 2024. The vessel will continue to earn scrubber premium according to the terms of its existing time charter agreement.
Following this, the Company will have 11 vessels trading on index-linked time charters.
Cash distribution:
The Board has approved a cash distribution of US$0.10 per share for September 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$0.10 per share
Declared currency: US$. Distributions payable to shares registered with Euronext VPS will be paid out in NOK with fixing date on October 31, 2024.
Date of approval: October 7, 2024
Record date: October 18, 2024
Payment date: On or about October 31, 2024.
Due to the shortening of the Settlement Cycle in the US markets, the following dates apply to shares traded in the New York Stock Exchange:
Last day including right: October 17, 2024
Ex-date: October 18, 2024
The following dates apply to shares traded on Euronext:
Last day including right: October 16, 2024
Ex-date: October 17, 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 November 5, 2024.
This information is published in accordance with the requirements of the Continuing Obligations.
For further queries, please contact:
Herman Billung, Contracted CEO
Telephone +47918 31590
About Himalaya Shipping Ltd.:
Himalaya Shipping Ltd. is an independent bulk carrier company, incorporated in Bermuda. Himalaya Shipping has twelve vessels in operation.
Forward Looking Statements:
This announcement includes forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include non-historical statements. These forward-looking statements are based on current expectations or beliefs, and are subject to uncertainty and changes in circumstances. These forward-looking statements are subject to a number of risks and uncertainties, which could cause the actual results to differ materially from those indicated in such forward-looking statements. Such risks are set forth under “Item 3. Key Information — D. Risk Factors” in our Annual Report on Form 20-F for the year ended December 31, 2023 filed with the U.S. Securities and Exchange Commission. Except as required by law, we undertake no obligation to update these forward-looking statements, whether as a result of new information, future events, or otherwise.
1 Average TCE earnings is a non-U.S. GAAP measure of the average daily revenue performance of a vessel. Average TCE earnings, gross, when used by the Company, means time charter revenues and voyage charter revenues adding back address commissions, and divided by fleet operational days. Our management believes average TCE earnings can provide additional meaningful information for investors to analyze our fleets’ daily income performance. Our calculation of such figure may not be comparable to that reported by other companies. Please see Appendix A for reconciliation of this measure to the nearest U.S. GAAP measure.
Appendix A – Reconciliation of Non-U.S. GAAP Measures
Time Charter Equivalent (‘TCE”) Earnings, gross
The following table sets forth a reconciliation of time charter revenues to the average TCE earnings, gross (unaudited) for the period presented:
|
(In millions of U.S. dollars except per day data) |
For the one-month period ended September 30, 2024 |
|
|
Time charter revenues |
$ |
13.7 |
|
Address commission |
$ |
0.5 |
|
Operating revenues, gross |
$ |
14.2 |
|
|
|
|
|
Fleet operational days |
|
360 |
|
Average TCE Earnings, gross |
$ |
39,500 |
The shares in Himalaya Shipping Ltd. will be traded on Euronext Expand Oslo ex cash distribution US$0.07 as from today, September 16, 2024.
Due to the shortening of the Settlement Cycle in the US markets, ex cash distribution date for shares traded on the New York Stock Exchange will be on September 17, 2024.
Hamilton, Bermuda, September 6, 2024
Commercial update:
In August 2024, Himalaya Shipping Ltd. (“Himalaya,” or the “Company”) achieved average time charter equivalent (“TCE”) earnings of approximately US$33,500 per day, gross1, including average daily scrubber and LNG benefits on eleven vessels of approximately US$1,600 per day. The Company’s two vessels trading on fixed time charters earned approximately US$36,500 per day, gross, including average daily scrubber and LNG benefits on one vessel. The Company’s ten vessels trading on index-linked time charters earned approximately US$32,800 per day, gross, including average daily scrubber and LNG benefits.
The Baltic 5TC Capesize Index averaged US$21,714 during August 2024.
The Company has agreed to convert the index linked charters to fixed charter rates for Mount Blanc, Mount Neblina and Mount Hua from September 1, 2024 to September 30, 2024 at an average rate of US$35,727 per day plus scrubber premium according to the terms of their existing time charter agreements.
The Company will have the following average rates fixed for vessels that were previously on index linked charters:
September 2024: 4 vessels at US$36,998 per day, gross
October 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 existing time charter agreements.
Cash distribution:
The Board has approved a cash distribution of US$0.07 per share for August 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$0.07 per share
Declared currency: US$. Distributions payable to shares registered with Euronext VPS will be paid out in NOK with fixing date on September 30, 2024.
Date of approval: September 5, 2024
Record date: September 17, 2024
Payment date: On or about September 30, 2024.
Due to the shortening of the Settlement Cycle in the US markets, the following dates apply to shares traded in the New York Stock Exchange:
Last day including right: September 16, 2024
Ex-date: September 17, 2024
The following dates apply to shares traded on Euronext:
Last day including right: September 13, 2024
Ex-date: September 16, 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 October 3, 2024.
This information is published in accordance with the requirements of the Continuing Obligations.
For further queries, please contact:
Herman Billung, Contracted CEO
Telephone +47918 31590
About Himalaya Shipping Ltd.:
Himalaya Shipping Ltd. is an independent bulk carrier company, incorporated in Bermuda. Himalaya Shipping has twelve vessels in operation.
Forward Looking Statements:
This announcement includes forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include non-historical statements. These forward-looking statements are based on current expectations or beliefs, and are subject to uncertainty and changes in circumstances. These forward-looking statements are subject to a number of risks and uncertainties, which could cause the actual results to differ materially from those indicated in such forward-looking statements. Such risks are set forth under “Item 3. Key Information — D. Risk Factors” in our Annual Report on Form 20-F for the year ended December 31, 2023 filed with the U.S. Securities and Exchange Commission. Except as required by law, we undertake no obligation to update these forward-looking statements, whether as a result of new information, future events, or otherwise.
1Average TCE earnings is a non-U.S. GAAP measure of the average daily revenue performance of a vessel. Average TCE earnings, gross, when used by the Company, means time charter revenues and voyage charter revenues adding back address commissions, and divided by fleet operational days. Our management believes average TCE earnings can provide additional meaningful information for investors to analyze our fleets’ daily income performance. Our calculation of such figure may not be comparable to that reported by other companies. Please see Appendix A for reconciliation of this measure to the nearest U.S. GAAP measure.
Appendix A – Reconciliation of Non-U.S. GAAP Measures
Time Charter Equivalent (‘TCE”) Earnings, gross
The following table sets forth a reconciliation of time charter revenues to the average TCE earnings, gross (unaudited) for the period presented:
| (In millions of U.S. dollars except per day data) | For the one-month period ended August 31, 2024 | |
| Time charter revenues | $ | 12.0 |
| Address commission | $ | 0.4 |
| Operating revenues, gross | $ | 12.4 |
| Fleet operational days | 372 | |
| Average TCE Earnings, gross | $ | 33,500 |