Newcastlemax specialist Himalaya shipping files for NYSE IPO Ship’s crew

Dry bulk carrier Himalaya Shipping has filed a registration statement with the US Securities and Exchange Commission for an initial public offering on the New York Stock Exchange.

Himalaya Shipping was incorporated in Bermuda on March 17, 2021 with the intention of owning Newcastlemax LNG dual-fuel bulk carriers in the 210,000 DWT range. Its shares have been listed on the Euronext Expand market under the ticker “HSHIP” since April 2022.

Himalaya Shipping has eleven ships under construction at New Times Shipyard in China, which are expected to be delivered by August 2024, as well as one recently delivered ship, Mount Norefjell, which has begun a two-year time charter at $30,000 gross per day.

All twelve newbuilds will be equipped with scrubbers and have sale-leaseback financing agreements.

“We are pleased to take delivery of the first vessel, marking the start of commercial operations for Himalaya Shipping,” said Herman Billung, contracted CEO of Himalaya Shipping. “The charter demonstrates the superior commercial value that our ships offer our customers. We are grateful to the shipyard for delivering a high quality ship on time despite the difficult lockdown situation in China.”

The company expects to deliver two more ships within 45 days of the first delivery on March 2, plus three more by the end of the year and the remaining six by the end of the third quarter of 2024.

Himalaya Shipping intends to list its common stock on the New York Stock Exchange under the symbol “HSHP”.

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