Himalaya Shipping announced that it has successfully taken delivery of the third of the twelve 210,000 dwt Newcastlemax newbuildings the Company has on order from New Times Shipyard.

The vessel (“Mount Etna”) will commence a minimum 24 month charter with an evergreen structure thereafter 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 third 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 again has delivered a high-quality vessel slightly ahead of schedule, despite the previous difficult lock-down situation in China.” says Herman Billung, contracted CEO of Himalaya Shipping.