News Tag: Regulatory

Hamilton, Bermuda, 9 March 2023,

Himalaya Shipping is pleased to announce that it has successfully taken delivery of the second of the twelve 210,000 dwt Newcastlemax newbuildings the Company has on order from New Times Shipyard.

The vessel (“Mount Ita”) will commence a 32 – 38 month time charter plus option for 11- 13 months and will earn an index-linked rate, reflecting a significant premium to a standard Capesize vessel. The time charters also include 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 forward freight agreement (FFA) curve from time to time.

“We are excited to take delivery of the second vessel, which is chartered on an index-linked time charter, earning a significant premium to a standard Capesize vessel. We are thankful to the shipyard which have delivered a high-quality vessel on time, despite the difficult lock-down situation in China.” says Herman Billung, contracted CEO of Himalaya Shipping.

For further queries, please contact: 

Herman Billung, Contracted CEO 

Telephone +47 918 31 590 

About Himalaya Shipping Ltd.: 

Himalaya Shipping Ltd. is an independent bulk carrier company, incorporated in Bermuda. Himalaya Shipping has two vessels in operation and ten Newcastlemax dry bulk vessels under construction at New Times Shipyard in China. The remaining newbuildings are expected to be delivered by August 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, and include statements relating to our statements with respect to the delivery of Mount Ita and the terms of its charter. 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.

Hamilton, Bermuda, March 7^th, 2023

Himalaya Shipping Ltd. (the “Company”) advises that a Special General Meeting of the Company to approve amendments to the Company’s bye-laws will be held on Monday, March 20, 2023 at 09:00 AST at 2nd Floor, The S.E. Pearman Building, 9 Par-la-Ville Road, Hamilton HM 11, Bermuda. 

The Board of Directors has fixed the close of business on March 8, 2023 as the record date for determination of the shareholders entitled to attend and vote at the Special General Meeting or any adjournment thereof.

A copy of the Notice of Special General Meeting and Form of Proxy, and associated information including the Company’s amended Bye-Laws can be found on the Company’s website at https://himalaya-shipping.com/ and attached to this press release. The notice and associated information will also be distributed to shareholders by normal distribution methods.

Hamilton, Bermuda, March 7, 2023

Himalaya Shipping Ltd. (“Himalaya Shipping”), a dry bulk carrier company with one vessel in operation and eleven Newcastlemax dry bulk vessels under construction at New Times Shipyard in China expected to be delivered by August 2024, today announced that it has filed a registration statement on Form F-1 with the U.S. Securities and Exchange Commission (the “SEC”) for its proposed initial public offering of newly issued common shares in the United States (the “Offering”).  The timing, number of common shares to be offered and the offer size for the Offering have not yet been announced.  

The Company intends to apply to have its common shares listed on the New York Stock Exchange under the symbol “HSHP”.  Following the Offering, Himalaya Shipping will continue to be listed under the ticker “HSHIP” on the Euronext Expand in Norway.  The Offering is expected to occur after the SEC completes its review process, subject to market and other conditions and there can be no assurance as to whether, or when, the Offering may be completed or as to the actual size or terms of the Offering.

DNB Markets, Inc. will act as sole global coordinator, joint bookrunner and representative of the underwriters for the Offering. Clarksons Securities will serve as joint bookrunner and underwriter for the Offering.

A registration statement relating to these securities has been filed with the SEC, but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. The Offering will be made only by means of a prospectus. Copies of the preliminary prospectus may be obtained, when available, from: the SEC at www.sec.gov, and from: DNB Markets, Inc., Attn: Compliance Department, by telephone: 212-681-3800, or by email at: compliance.marketsinc@dnb.no.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities in any state or jurisdiction. Any offers, solicitations or offers to buy, or any sales of securities in the United States will be made in accordance with the registration requirements of the Securities Act of 1933 and if made in any other state or jurisdiction will be made in accordance with the securities laws of any such state or jurisdiction. 

This press release shall not constitute an offer to subscribe to or a solicitation of an offer to subscribe to securities in any member state within the European Economic Area (“EEA”) in which such offer or solicitation is unlawful, unless in reliance upon applicable EEA prospectus exceptions, whereby no EEA prospectus, registration or similar action would be required within EEA.

This information is subject to disclosure requirements pursuant to §5-12 of the Norwegian Securities Trading Act.

For further queries, please contact:

Herman Billung, Contracted CEO

Telephone +47 918 31 590

Hamilton, Bermuda, 2 March 2023,

Himalaya Shipping is pleased to announce that it has successfully taken delivery of the first of the twelve 210,000 dwt Newcastlemax newbuildings the Company has on order from New Times Shipyard. A further two vessels are expected to be delivered over the next 45 days, and another three vessels are expected to be delivered the by the end of 2023 and the remaining six vessels are expected to be delivered by the end of third quarter 2024.

The vessel (“Mount Norefjell”) will commence a two year time charter at US$30,000 per day, gross.

“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.” says Herman Billung, contracted CEO of Himalaya Shipping.

For further queries, please contact: 

Herman Billung, Contracted CEO 

Telephone +47 918 31 590 

About Himalaya Shipping Ltd.: 

Himalaya Shipping Ltd. is an independent bulk carrier company, incorporated in Bermuda. Himalaya Shipping has one vessel in operation and eleven Newcastlemax dry bulk vessels under construction at New Times Shipyard in China. The remaining newbuildings are expected to be delivered by August 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, and include statements relating to our newbuild contracts, including delivery dates and terms of charters, statements with respect to our vessels upon delivery. 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.

Hamilton, Bermuda, December 20, 2022

Himalaya Shipping Ltd. (the “Company”) announces the appointment of Ms. Jehan Mawjee as a Director effective December 19^th, 2022. Ms. Mawjee has been employed as Chief Accounting Officer of Borr Drilling Limited since April 2021. She previously served in various accounting roles at Golar LNG Limited from 2015 to 2021 and at KPMG from 2012 to 2015. Ms. Mawjee is a Chartered Accountant and holds a Master of Professional Accounting degree from the University of Saskatchewan.

For further queries, please contact:

Herman Billung, Contracted CEO

Telephone +47 918 31 590 

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 with delivery under the contracts scheduled between Q1 2023 and Q3 2024. 

Hamilton, Bermuda, 19 December 2022,

Himalaya Shipping is pleased to announce it has entered into a time charter agreement for one vessel with a major Japanese counterpart.

The vessel will commence a two year time charter upon delivery from New Times Shipyard in March/April 2023. The parties have agreed a fixed time charter of US$30,000 per day, gross, throughout the period.

“We are excited to be able to fix a ship significantly above our cash break-even, even with the 2023/2024 Capesize FFA rates being at $14k/day. The latest charter is another proof of the superior commercial value of the Himalaya Shipping’s low emission fleet meeting all expected regulations in the foreseeable future. Himalaya Shipping have in addition to this fixed charter already chartered out 6 vessels on index-linked charters. Our simple structure, with mostly index-linked charters to achieve market high premium to the Baltic 5TC index , low G&A cost and a 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 +47 918 31 590  

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 with delivery between Q2 2023 and Q4 2024. 

Bjørn Isaksen, Director of Himalaya Shipping Ltd., has on November 30, 2022, purchased 300,000 shares in Himalaya Shipping Ltd. from Tor Olav Trøim. The purchase represents settlement of a forward contract from when the Company was established in March 2021. The purchase price agreed in the said contract is USD 1 per share.

Following the transaction, Bjørn Isaksen and Freng Invest AS, a company controlled by Bjørn Isaksen, owns 320 000 shares and 150 000 share options in Himalaya Shipping Ltd.

This information is subject to the disclosure requirements pursuant to the market abuse regulation article 19 and 5-12 of the Norwegian Securities Trading Act.

Hamilton, Bermuda, 17 October 2022,

Himalaya Shipping is pleased to announce it has entered into time charter agreements for four vessels with Koch Shipping Pte Ltd.

The vessels will commence a 24 month time charter with an evergreen structure upon delivery from New Times Shipyard in the second and third quarter of 2023, with certain options to roll two charters to 2024. 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.

“We have now chartered out 6 vessels on index linked charters with our vessels achieving market high premium to the Baltic 5TC index. The reception for the vessels in the market has been above expectations. 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 +47 918 31 590  

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 with delivery between Q2 2023 and Q4 2024.  

Hamilton, Bermuda, August 25, 2022 

Himalaya Shipping Ltd. (the “Company”) is pleased to announce that it has decided to install scrubbers (EGCS) on the entire fleet of twelve vessels presently under construction at New Times Shipyard (“NTS”) in China. The installation will be done within the previously agreed delivery schedule from the shipyard at attractive prices and payment terms.

After installation of scrubbers, the ships will have the ability to be fuelled with LNG, LSFO or HSFO. This offers significant increased flexibility for our customers and will be valuable in the ongoing employment discussions. Based on current spot pricing of LSFO versus HFO in Singapore the scrubber investment is estimated to give a total benefit of US$7,500/day when sailing, and based on our expected share of scrubber benefit the investment is expected to be paid back in less than 1.5 years.

The Management and Board would like to express their appreciation to NTS showing their willingness and ability to make alterations during the building process, underlining the excellent cooperation between builders and the Company.

For further queries, please contact:

Herman Billung, Contracted CEO

Telephone +47 918 31 590 

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 with delivery between Q2 2023 and Q4 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.

The information, opinions and forward-looking statements contained in this announcement speak only as of the date hereof and are subject to change without notice.