Himalaya’s LNG bulkers earned about $28,400 per day in January

February 9, 2024 Stu Turley LNG
Himalaya’s LNG bulkers

LNG-powered bulker owner Himalaya Shipping achieved average time charter equivalent earnings of about $28,400 per day in January.

Tor Olav Trøim’s Himalaya said in a commercial update that the company’s six vessels trading on a fixed time charter earned $28,600 per day, gross, including average daily scrubber and LNG benefits on five vessels of about $2,800 per day.

Moreover, the company’s three vessels trading on index-linked time charters earned about $28,000 per day, gross, including average daily scrubber and LNG benefits of about $3,000 per day.

The index linked vessels were delivered to their respective charterers to start their time charters between the 8th and the 15th of January, Himalaya said.

Himalaya said the company’s cash break-even TCE is estimated to be about $24,600 per day.

The Baltic 5TC Capesize Index averaged $20,565 during January 2024.

In December, Himalaya achieved average time charter equivalent earnings of about $34,900 per day.

In January, Himalaya took delivery of three 210,000-dwt Newcastlemax LNG dual fuel newbuildings from China’s New Times Shipyard.

Following these deliveries, the company now welcomed 9 of twelve vessels from New Times.

Himalaya’s three newest vessels are Mount Bandeira, Mount Hua, and Mount Elbrus

The firm said in the update that it has agreed to convert its index linked charters to fixed rate time charters for Mount Bandeira and Mount Hua from February 1 to June 30, 2024.

Following the conversion of the charters for these two vessels, the company will have five vessels trading on a fixed time charter of $24,852 per day, gross, in February and March, while two vessels will earn an average of $26,866 per day, gross, from April to June.

In addition, two vessels will continue to earn a fixed scrubber premium of $2,500 per day from February 1 to March 31.

The remaining three vessels will continue to earn scrubber premium according to the terms of their existing time charter agreements.

Himalaya said its board has approved a cash distribution of $0.01 per share for January.

1031 Exchange E-Book

ENB Top News 
ENB
Energy Dashboard
ENB Podcast
ENB Substack

About Stu Turley 3357 Articles
Stuart Turley is President and CEO of Sandstone Group, a top energy data, and finance consultancy working with companies all throughout the energy value chain. Sandstone helps both small and large-cap energy companies to develop customized applications and manage data workflows/integration throughout the entire business. With experience implementing enterprise networks, supercomputers, and cellular tower solutions, Sandstone has become a trusted source and advisor.   He is also the Executive Publisher of www.energynewsbeat.com, the best source for 24/7 energy news coverage, and is the Co-Host of the energy news video and Podcast Energy News Beat. Energy should be used to elevate humanity out of poverty. Let's use all forms of energy with the least impact on the environment while being sustainable without printing money. Stu is also a co-host on the 3 Podcasters Walk into A Bar podcast with David Blackmon, and Rey Trevino. Stuart is guided by over 30 years of business management experience, having successfully built and help sell multiple small and medium businesses while consulting for numerous Fortune 500 companies. He holds a B.A in Business Administration from Oklahoma State and an MBA from Oklahoma City University.

Related Articles