Himalaya Shipping seals fresh index-linked deal

Oslo-listed Himalaya Shipping has secured new employment for its newcastlemax bulk carrier currently trading on a fixed time charter.

The Tor Olav Troim-backed owner and operator has entered into a 14-to 38-month contract for the 2023-built Mount Norefjell starting after the vessel’s redelivery from its current charterer in late February 2025.

The vessel will earn an index-linked rate at a premium to the Baltic 5TC index that is higher than the average premium on the company’s current charters of 42.25%, with the option to convert the charter to a fixed rate, Himalaya said.

The charter also includes a profit sharing derived from operating the vessel´s scrubber or running on LNG.

Following the latest deal, the company will have all 12 newcastlemaxes trading on index-linked time charters.

In January Himalaya’s 11 vessels trading on index-linked deals earned about $16,700 per day, including average daily scrubber and LNG benefits, while the Baltic 5TC index averaged $10,150. The 210,000 dwt Mount Norefjell has been earning $30,000 per day since delivery.