Himalaya Shipping takes delivery of final LNG dual-fuel Newcastlemax

Bermuda-based dry bulk shipping company Himalaya Shipping has taken delivery of its twelfth 210,000 dwt Newcastlemax dual fuel newbuilding.

The vessel, Mount Emai, will be delivered to ‘a major Japanese shipping company’ and will commence a 23 to 27-month time charter, plus an option exercisable by the counterparty for a further 11 to 13 months, the company said.

As informed, the ship 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 has certain rights to convert the time charter to a fixed rate, based on the prevailing forward freight agreement (FFA) curve from time to time.

Built at New Times Shipyard (NTS), the vessel is the final in the batch of twelve LNG dual-fuel newbuilds ordered by Himalaya Shipping. Featuring ECO design and LNG propulsion, the units are prepared for next-generation fuels, meeting the IMO goal towards 2030 and beyond.

Flying the flag of Liberia, the bulker has a length of 300 meters and a width of 50 meters.

“This marks a significant milestone for Himalaya Shipping. We are meeting what we believe will be a very interesting cycle ahead of us with a state of the art fleet representing the youngest and most fuel efficient dry bulk fleet on the water today,” Herman Billung, contracted CEO of Himalaya Shipping, commented.