News Tag: News

Himalaya Shipping Ltd. (the “Company”) advises that the 2025 Annual General Meeting of the Company was held on May 21, 2025 at 9:00 Bermuda local time at the Company’s registered office at 2nd Floor, The S.E. Pearman Building, 9 Par-la-Ville Road, Hamilton HM 11, Bermuda. The audited consolidated financial statements of the Company for the year ended December 31, 2024 were presented at the Meeting.

The following resolutions were passed:

1. To set the maximum number of Directors to be not more than seven.
2. To resolve that vacancies in the number of Directors be designated as casual vacancies and that the Board of Directors be authorized to fill such vacancies as and when it deems fit.
3. To re-elect Mr Bjørn Isaksen as a Director of the Company.
4. To re-elect Mr Carl E. Steen as a Director of the Company.
5. To re-elect Ms Jehan Mawjee as a Director of the Company.
6. To re-elect Ms Mi Hong Yoon as a Director of the Company.
7. To elect Ms Alexandra Kate Blankenship as a Director of the Company.
8. To re-appoint PricewaterhouseCoopers AS as auditors and to authorize the Directors to determine their remuneration.
9. To approve directors’ fees payable to the Company’s Board of Directors of a total amount of fees not to exceed US$400,000 for the year ending December 31, 2025.

Himalaya would like to thank Ms Georgina Sousa who retired from Himalaya’s Board of Directors today. Her contribution to the Company has been invaluable and we wish her well.

Following her election today as a Director, Himalaya also welcomes Ms Kate Blankenship to its Board. The Company looks forward to benefiting from her relevant and extensive experience in the future.

Hamilton, Bermuda
May 21, 2025

Hamilton, Bermuda, May 8, 2025

Commercial update:

In April 2025, Himalaya Shipping Ltd. (“Himalaya,” or the “Company”) achieved average time charter equivalent (“TCE”) earnings of approximately US$25,800 per day, gross[1], including average daily scrubber and LNG benefits on twelve vessels of approximately US$1,500 per day. The Company’s two vessels trading on fixed time charters earned approximately US$32,700 per day, gross, including average daily scrubber and LNG benefits. The Company’s ten vessels trading on index-linked time charters earned approximately US$24,400 per day, gross, including average daily scrubber and LNG benefits.

The Baltic 5TC Capesize Index averaged US$16,022 during April 2025.

Cash distribution:

The Board has approved a cash distribution of US$0.025 per share for April 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$0.025 per share

Declared currency: US$. Distributions payable to shares registered with Euronext VPS will be paid out in NOK with fixing date on June 3, 2025.

Date of approval: May 7, 2025

Record date: May 20, 2025

Payment date: On or about June 3, 2025.

The following dates apply to shares traded on Euronext:

Last day including right: May 16, 2025

Ex-date: May 19, 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 June 6, 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: May 19, 2025

Ex-date: May 20, 2025

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

For further queries, please contact:
Lars-Christian Svensen, Contracted CEO
Telephone +47476 38756

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, 2024 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 April 30, 2025
Time charter revenues	$	9.0
Address commission	$	0.3
Operating revenues, gross	$	9.3
Fleet operational days		360
Average TCE Earnings, gross	$	25,800

Hamilton, Bermuda, April 4, 2025

Commercial update:

In March 2025, Himalaya Shipping Ltd. (“Himalaya,” or the “Company”) achieved average time charter equivalent (“TCE”) earnings of approximately US$30,400 per day, gross[1], including average daily scrubber and LNG benefits on twelve vessels of approximately US$1,300 per day. All twelve vessels were trading on index-linked time charters in March 2025.

The Baltic 5TC Capesize Index averaged US$20,802 during March 2025.

Cash distribution:

The Board has approved a cash distribution of US$0.04 per share for March 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$0.04 per share

Declared currency: US$. Distributions payable to shares registered with Euronext VPS will be paid out in NOK with fixing date on May 2, 2025.

Date of approval: April 3, 2025

Record date: April 15, 2025

Payment date: On or about May 2, 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: April 14, 2025

Ex-date: April 15, 2025

The following dates apply to shares traded on Euronext:

Last day including right: April 11, 2025

Ex-date: April 14, 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 May 8, 2025.

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

For further queries, please contact:  
Lars-Christian Svensen, Contracted CEO  
Telephone +47476 38756  

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, 2024 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 March 31, 2025
Time charter revenues	$	10.9
Address commission	$	0.4
Operating revenues, gross	$	11.3
Fleet operational days		372
Average TCE Earnings, gross	$	30,400

Hamilton, Bermuda, April 1, 2025

Transition of new CEO and announcement of new CFO in Himalaya Shipping Ltd.

Himalaya Shipping Ltd. (the “Company”) is pleased to announce that Lars-Christian Svensen has commenced his role as Contracted Chief Executive Officer of Himalaya Shipping Ltd. on April 1, 2025, as well as Chief Executive Officer of 2020 Bulkers Ltd., under the management agreement between 2020 Bulkers Management AS and Himalaya Shipping Ltd.

In addition, we are pleased to announce that Vidar Hasund has been appointed the role of Contracted Chief Financial Officer of the Company from the same date, as well as continuing as Chief Financial Officer of 2020 Bulkers Ltd., under the management agreement between 2020 Bulkers Management AS and Himalaya Shipping Ltd.

Herman Billung will step down from his position as Chief Executive Officer for Himalaya Shipping Ltd. and commence his new role as Senior Advisor to the Board.
 
The Chairman of the Board, Bjørn Isaksen stated:
“We would like to thank Mr Billung for his hard work and dedication during his tenure as CEO for Himalaya Shipping. We are glad to retain his knowledge, network, and vast experience within the Company as he embarks on his advisory role.

I am pleased to have observed a good handover period over the last six months with regards to our CEO transition, and I believe the Company is well positioned for the future with Lars-Christian at the helm. In addition, we are excited to welcome a strong resource in Mr Vidar Hasund to the Company, which solidifies the Management Team. “

For further queries, please contact:
Lars-Christian Svensen, Contracted CEO
Telephone +47476 38756

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, 2024 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.

Hamilton, Bermuda, March 28, 2025

Himalaya Shipping Ltd. (the “Company”) has previously announced on February 27, 2025 that it has scheduled its 2025 Annual General Meeting for May 21, 2025. A copy of the Notice of Annual General Meeting and Form of Proxy, and associated information including the 2024 Annual Report on Form 20-F is attached to this press release and can be found on the Company’s website at www.himalaya-shipping.com.