Himalaya Shipping switches newcastlemax duo to fixed deals

Oslo-listed Himalaya Shipping has converted contracts for two of its ships from index-linked charters to fixed-rate charters.

The company will switch the deals for the newcastlemax bulkers Mount Norefjell and Mount Hua to fixed deals starting from April 1, 2025, and ending on December 31, 2025.

The agreed conversion rate for the 2023-built Mount Norefjell is $32,000. The bulker recently came off a fixed rate time charter of $30,000 at the end of February and subsequently entered into a new index-linked time charter with conversion options.

The Tor Olav Troim-backed owner and operator added that the agreed conversion rate for the 2024-built Mount Hua is $31,500.

Both vessels will continue to earn a scrubber premium according to the terms of the existing time charter agreements. Following this, the company will have 10 vessels trading on index-linked time charters.