Himalaya Shipping Moves Two Newcastlemax Bulkers to Fixed-Rate Charters at $51,200 Per Day
Key Takeaways
- •Himalaya Shipping secured fixed-rate time charters for two vessels at an average rate of $51,200 per day, generating approximately $15.7 million in gross hire over a five-month period extending to the end of 2026.
- •The latest fixed-rate level represents a marked increase from a comparable charter in August of the prior year, which was secured at $38,700 per day for the final quarter of 2025.
- •Himalaya's fleet comprises twelve 210,000 deadweight-tonne LNG dual-fuel newcastlemax bulk carriers designed to meet tightening International Maritime Organization emission standards.
- •The company earlier converted four ships to fixed rates averaging $56,500 per day for June, reporting fleetwide gross TCE earnings of $52,900 per day for that month.
- •The specific vessels involved in the latest charter conversion were not disclosed, though both will continue to receive scrubber benefits under existing arrangements.
Himalaya Shipping, the newcastlemax bulk carrier operator backed by Norwegian shipping industrialist Tor Olav Trøim, has transferred two of its vessels from index-linked employment to fixed-rate time charters at an average rate of $51,200 per day.
The five-month fixed-rate cover commenced on August 1 and runs through the end of 2026, generating approximately $15.7 million in gross hire across the two ships. Both vessels will continue to receive scrubber benefits under their existing charter arrangements. The move extends Himalaya's strategy of layering fixed-rate cover atop spot-index exposure, locking in revenue during a period when Capesize-class rates — tracked by benchmarks such as the Baltic 5TC — have shown sustained strength in the iron ore and coal trade lanes that dominate newcastlemax employment.
The specific vessels involved were not disclosed. Himalaya's entire fleet consists of 12 vessels, all of which are 210,000 deadweight-tonne LNG dual-fuel newcastlemax bulk carriers. The dual-fuel specification positions the fleet to comply with tightening International Maritime Organization emission standards, an increasingly differentiating factor as charterers weigh fuel efficiency and regulatory compliance in long-term fixtures.
The latest conversion was secured at a markedly higher level than a comparable move in August of the previous year, when Himalaya fixed two other vessels at an average of $38,700 per day for the final quarter of 2025. That year-over-year improvement reflects the broader trajectory of large-bulker earnings, which have benefited from constrained fleet growth and steady demand from major commodity importers.
In a separate round earlier this year, Himalaya converted four ships to fixed rates averaging $56,500 per day for the month of June. The company reported fleetwide gross time charter equivalent (TCE) earnings of $52,900 per day for that month, which included average scrubber benefits of $1,300 per vessel per day.
Himalaya's most recent fixture prior to this announcement involved the 2024-built Mount Aconcagua, which was secured for a period of 16 to 18 months on an index-linked rate at a premium to the Baltic 5TC benchmark.
Source: Splash247