Himalaya Shipping Q3 revenue rises on higher charter rates
HSHP•Himalaya Shipping reported preliminary Q3 revenue of $62.2 million and net income of $33.3 million. It also converted charters for four vessels to fixed rates and increased its stake in Peak Maritime to 60%.
1. Q3 results and charters
Himalaya Shipping reported preliminary Q3 time charter revenue of $62.2 million, net income of $33.3 million and EBITDA of $52.7 million. The company said revenue benefited from time charter rates significantly above the Baltic 5TC 180 Capesize Index, and it converted index-linked charters for four vessels to fixed rates at higher average rates during the quarter. It entered new index-linked charter agreements for two vessels, with minimum terms through October 2027, and raised its stake in Peak Maritime to 60%.
