Himalaya Shipping Secures New Charter for Mount Ita
Bermuda-based Himalaya Shipping has announced a new time charter agreement for its LNG dual-fuel Newcastlemax vessel, Mount Ita, which was delivered in March 2023. The agreement, set to commence in the latter half of January, follows the vessel’s previous charter and will last between 11 to 14 months. This deal underscores the company’s strategic positioning in the bulk carrier market, leveraging advanced technology and fuel efficiency.
Details of the Charter Agreement
The Mount Ita, part of a series of twelve Newcastlemax dry bulk vessels built by China’s New Times Shipbuilding, has secured a time charter that will begin after its current charter concludes. Himalaya Shipping has not disclosed the identity of the chartering company, but the new agreement includes an index-linked rate that offers a premium over the Baltic 5TC index. Additionally, the charter includes provisions for converting to fixed rates based on the prevailing Forward Freight Agreement (FFA) curve.
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This vessel is equipped with advanced technology, including scrubbers that enable it to operate on high-sulfur fuel oil, LNG, and low-sulfur fuel oil. The design also allows for future adaptations to next-generation fuels, reflecting the industry’s shift towards more sustainable practices. The Mount Ita features ABB’s shaft generators with a power-take-off (PTO) solution, alongside MAN ME-GI high-pressure LNG dual-fuel engines, enhancing its operational efficiency and environmental performance.
As the second vessel delivered in this series, the Mount Ita represents a significant step in Himalaya Shipping’s commitment to modernizing its fleet. The company anticipates that the twelfth and final vessel in this series will be delivered by June 2024, further solidifying its presence in the bulk shipping sector.
