|
Hamilton, Bermuda, May 8, 2024 Commercial update: In April 2024, Himalaya Shipping Ltd. ("Himalaya," or the "Company") achieved average time charter equivalent ("TCE") earnings of approximately US$32,100 per day, gross1, including average daily scrubber and LNG benefits on nine vessels of approximately US$2,600 per day. The Company's four vessels trading on fixed time charters earned approximately US$33,100 per day, gross, including average daily scrubber and LNG benefits on three vessels. The Company's six vessels trading on index-linked time charters earned approximately US$31,300 per day, gross, including average daily scrubber and LNG benefits. The Baltic 5TC Capesize Index averaged US$20,034 during April 2024. The Company has agreed to convert the index linked charters to fixed charter rates for Mount Blanc and Mount Neblina from May 1, 2024 to June 30, 2024 at an average rate of US$37,275 per day plus scrubber premium according to the terms of their existing time charter agreement. The Company will have the following average rates fixed for vessels that were previously on index linked charters: May to June 2024: 5 vessels at an average of US$33,819 per day, gross July to December 2024: 1 vessel at US$40,810 per day, gross These vessels will continue to earn scrubber premium according to the terms of their respective existing time charter agreements. "In light of the improved market conditions and the final two ships scheduled to be delivered in June, we have decided to increase the dividend for April 2024 to US$0.04 per share. It is the expectation of the Company that with the delivery of our last two ships and if market conditions continue to improve, the Company should benefit from increased cash flow, and with no further investment plans, it is the intention of the Company to return excess cashflow to shareholders through increasing dividends" says CEO Herman Billung. Cash distribution: The Board has approved a cash distribution of US$0.04 per share for April 2024. The distribution will be made from the Company's Contributed Surplus account. Note to shareholders registered in Euronext VPS, the Norwegian Central Security Depository: Due to implementation of the Central Securities Depository Regulation (CSDR) in Norway, please note the information regarding the payment date for the shares registered in Euronext VPS below. Key information: Distribution amount: US$0.04 per share Declared currency: US$. Distributions payable to shares registered with Euronext VPS will be paid out in NOK with fixing date on June 6, 2024. Date of approval: May 7, 2024 Last day including right: May 21, 2024 Ex-date: May 22, 2024 Record date: May 23, 2024 Payment date: On or about June 6, 2024. Due to the implementation of CSDR in Norway, distributions payable on shares registered with Euronext VPS is expected to be distributed to Euronext VPS shareholders on or about June 11, 2024. About Himalaya Shipping Ltd.: Himalaya Shipping Ltd. is an independent bulk carrier company, incorporated in Bermuda. Himalaya Shipping has ten vessels in operation and two Newcastlemax dry bulk vessels under construction at New Times Shipyard in China. The remaining newbuildings are expected to be delivered by Q2 2024. Himalaya Shipping Ltd. press release 
|
