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 18, 2025
Himalaya Shipping Ltd. will be hosting a conference call to discuss the Company’s results for the fourth quarter of 2024 on Thursday, February 20, 2025 at 9:00 a.m. Eastern Time (3:00 p.m. CET). The Company plans to release its financial results for the fourth quarter of 2024 before the open of the Oslo Stock Exchange on Thursday, February 20, 2025. The earnings report and presentation will be available on the Investor Relations section on www.himalaya-shipping.com.
To join the call, you may register at:
https://channel.royalcast.com/landingpage/hegnarmedia/20250220_5/
Dial-in:
Denmark: +45-7-8768490
Sweden: +46-8-1241-0952
Norway: +47 21 95 63 42
United Kingdom: +44-203-7696819
United States: +1 646-787-0157
Germany: +49-30-21789327
Pin code for all countries: 114120
Participants are encouraged to dial in 10 minutes before the start of the call.
Questions may be directed to: Herman Billung, Contracted CEO, +47 91831590
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 |
The shares in Himalaya Shipping Ltd. will be traded on Euronext Expand Oslo ex cash distribution US$0.005 as from today, January 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 January 21, 2025.
Hamilton, Bermuda, January 8, 2025
Commercial update:
In December 2024, Himalaya Shipping Ltd. (“Himalaya,” or the “Company”) achieved average time charter equivalent (“TCE”) earnings of approximately US$20,200 per day, gross1, including average daily scrubber and LNG benefits on eleven vessels of approximately US$2,900 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$19,300 per day, gross, including average daily scrubber and LNG benefits.
The Baltic 5TC Capesize Index averaged US$11,573 during December 2024.
Cash distribution:
The Board has approved a cash distribution of US$0.005 per share for December 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$0.005 per share
Declared currency: US$. Distributions payable to shares registered with Euronext VPS will be paid out in NOK with fixing date on February 5, 2025.
Date of approval: January 7, 2025
Record date: January 21, 2025
Payment date: On or about February 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: January 17, 2025
Ex-date: January 21, 2025
The following dates apply to shares traded on Euronext:
Last day including right: January 17, 2025
Ex-date: January 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 February 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 December 31, 2024 |
|
|
Time charter revenues |
$ |
7.3 |
|
Address commission |
$ |
0.2 |
|
Operating revenues, gross |
$ |
7.5 |
|
|
|
|
|
Fleet operational days |
|
372 |
|
Average TCE Earnings, gross |
$ |
20,200 |
The shares in Himalaya Shipping Ltd. will be traded on Euronext Expand Oslo ex cash distribution US$0.01 as from today, December 13, 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 December 16, 2024.
Hamilton, Bermuda, December 6, 2024
Commercial update:
In November 2024, Himalaya Shipping Ltd. (“Himalaya,” or the “Company”) achieved average time charter equivalent (“TCE”) earnings of approximately US$31,300 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$31,400 per day, gross, including average daily scrubber and LNG benefits.
The Baltic 5TC Capesize Index averaged US$20,899 during November 2024.
Cash distribution:
The Board has approved a cash distribution of US$0.01 per share for November 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$0.01 per share
Declared currency: US$. Distributions payable to shares registered with Euronext VPS will be paid out in NOK with fixing date on January 3, 2025.
Date of approval: December 5, 2024
Record date: December 16, 2024
Payment date: On or about January 3, 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: December 13, 2024
Ex-date: December 16, 2024
The following dates apply to shares traded on Euronext:
Last day including right: December 12, 2024
Ex-date: December 13, 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 January 8, 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.
1Average 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 November 30, 2024 |
|
|
Time charter revenues |
$ |
10.9 |
|
Address commission |
$ |
0.4 |
|
Operating revenues, gross |
$ |
11.3 |
|
|
|
|
|
Fleet operational days |
|
360 |
|
Average TCE Earnings, gross |
$ |
31,300 |
Hamilton, Bermuda, December 3, 2024:
On December 3, 2024, Mr. Lars-Christian Svensen acquired 8,000 shares in Himalaya Shipping Ltd. at an average price of NOK62.74 per share. Mr. Svensen is the Contracted Chief Commercial Officer of Himalaya Shipping Ltd. and thus, as per the Market Abuse Directive, a person discharging managerial responsibilities in Himalaya Shipping Ltd.
Following the transaction, Mr. Svensen owns 9,186 shares and 65,000 share options in Himalaya Shipping Ltd.
Please refer to the attached form of notification of a transaction by a person discharging managerial responsibilities.
This information is disclosed as required by Regulation EU596/2014 (“MAR“), article 19 and section 5-12 of the Norwegian Securities Trading Act.
Questions should be directed to:
Herman Billung, Contracted CEO,
+47918 31590
The shares in Himalaya Shipping Ltd. will be traded on Euronext Expand Oslo ex cash distribution US$0.04 as from today, November 15, 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 November 18, 2024.
Hamilton, Bermuda, November 12, 2024:
On November 11, 2024, Mr. Bjorn Isaksen entered into a forward purchase agreement with Drew Holdings Ltd. to purchase 200,000 common shares in Himalaya Shipping Ltd. for settlement on June 15, 2026 at a price of $7.13 per share, to be adjusted by 5% interest less any dividends paid between November 11, 2024 and the settlement date. Mr. Isaksen is the chairman of Himalaya Shipping Ltd.’s board and thus, as per the Market Abuse Directive, a person discharging managerial responsibilities in Himalaya Shipping Ltd.
Mr. Isaksen and his close associates currently own 400,000 shares and have options on 150,000 shares in Himalaya Shipping Ltd. Following the settlement of the forward purchase agreement, Mr. Isaksen and his close associates will, on this basis, own 600,000 shares.
Please refer to the attached form of notification of a transaction by a person discharging managerial responsibilities.
This information is disclosed as required by Regulation EU596/2014 (“MAR”), article 19 and section 5-12 of the Norwegian Securities Trading Act.
Questions should be directed to: Herman Billung, Contracted CEO, +47918 31590