Himalaya Shipping announced it has entered into a time charter agreement for one vessel with a major Japanese shipping and logistics company. The vessel will commence a 24-month time charter with an evergreen structure upon delivery from New Times Shipyard in the first half of 2024. The vessel will earn an index linked rate, reflecting a significant premium to the Baltic 5TC index, and a profit sharing of any economic benefit derived from operating the vessel's scrubber or running on LNG, as well as certain rights to convert the time charters to fixed rates based on the preventing FFA curve from time to time.

Further, the Company has agreed to extend the charter for six of its vessels with a major commodity trading company by an additional year, until the end of 2026. With this the company has secured employment for its entire fleet, 1 vessel on fixed time charter and the remaining 11 vessels fixed on index linked charters will on average earn a premium of 42.25% to the Baltic 5TC.