Himalaya Shipping Ltd
J1X.SG
Stuttgart Stock Exchange12.20
EUR
-0.30
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Himalaya Shipping Ltd
J1X.SG
(Stuttgart Stock Exchange)
Recent
price
12.20
P/E
ratio
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div
yld
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ROIC.AI
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- Business
- Himalaya Shipping Ltd is a Bermuda-based independent dry bulk carrier company that owns and operates a fleet of 12 modern LNG dual-fueled Newcastlemax vessels, each with approximately 210,000 deadweight tons capacity; these eco-designed ships feature advanced propulsion systems, nitrogen abatement technology, and adaptability for future fuels to minimize emissions in global dry bulk shipping. The company provides dry bulk transportation services worldwide to major commodity traders, energy transition firms, and multi-modal transport operators, transporting key cargoes such as iron ore and coal via optimized maritime routes. Incorporated in 2021 and headquartered at S.E. Pearman Building, 9 Par-la-Ville Road, Hamilton HM 11, Bermuda, Himalaya Shipping focuses on high-quality, low-emission tonnage to maximize investor returns through index-linked time charters and variable dividends. Its fleet includes the vessels Mount Norefjell, Mount Ita, Mount Etna, Mount Blanc, Mount Matterhorn, Mount Neblina, Mount Bandeira, Mount Hua, Mount Elbrus, Mount Denali, Mount Aconcagua, and Mount Emai, all delivered between 2023 and mid-2024 from shipyards including New Times Shipyard and Jiangsu. Operations span global trade lanes with a utilization rate exceeding 99% on operational days, supported by subsidiaries such as Mount Norefjell Inc. and Mount Denali Inc. for vessel ownership. Recent developments include the full delivery of its 12-vessel fleet by June 2024 with the arrivals of Mount Denali in April, Mount Aconcagua in June, and Mount Emai shortly thereafter, enabling commencement of additional time charters; a March 2025 private placement raising net proceeds of $14.8 million for fleet-related financing; financing arrangements such as sale-and-leaseback deals with CCB Financial Leasing and a revolving credit facility with Drew Holdings Ltd., including a $17.5 million funding tranche received in December 2025; and a new time charter agreement in early 2025 with a major Japanese shipping and logistics company for one vessel. In 2025, the company reported sequential revenue growth from increased operating days across the full fleet, alongside strategic repayments on leaseback financings and sustained monthly cash distributions to shareholders amid a tightening Capesize market driven by projects like Simandou in Guinea.