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

The vessel (“Mount Neblina”) will commence a minimum 24-month time charter with an evergreen structure thereafter and will earn an index-linked rate, reflecting a significant premium to a standard Capesize vessel. 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 rate based on the prevailing forward freight agreement (FFA) curve from time to time.

“We are excited to take delivery of the sixth vessel, which is chartered to a leading commodity trading house. The shipyard has again delivered a high-quality vessel slightly ahead of schedule. Mount Neblina will add another state-of-the-art vessel to the youngest dry bulk fleet on the water today. It is encouraging that three vessels of the Himalaya fleet have bunkered with LNG in Singapore over the last month, which makes us confident in our choice to invest in dual fuel engines. Less than 2% of the Capesize fleet can run on LNG which brings the company in the pole position to benefit from the environmental regulations being introduced” says Herman Billung, contracted CEO of Himalaya Shipping.