Himalaya Shipping announced preliminary unaudited results for the three and nine months ended September 30, 2026.
Highlights for the Third Quarter of 2026
- Total time charter revenues of $62.2 million, which represents average time charter equivalent (“TCE”) earnings of approximately $58,400 per day, gross[1]. Average Baltic 5TC 180 Capesize Index was $41,369 per day.
- Net income of $33.3 million and EBITDA[2] of $52.7 million.
- Entered into a new time charter agreement for the Mount Aconcagua for a period of 16 to 18 months at an index-linked rate, reflecting a significant premium to the Baltic 5TC 180 Capesize Index.
- Converted the index-linked time charters for two vessels to fixed-rate time charters at an average rate of approximately $51,200 per day, gross, from August 1, 2026 to December 31, 2026.
- Converted the index-linked time charters for two vessels to fixed-rate time charters at an average rate of approximately $53,000 per day, gross, from September 1, 2026 to March 31, 2027.
- Paid cash distributions of $0.22, $0.25 and $0.28 per common share for July, August and September 2026, respectively
Subsequent Events
- Achieved TCE earnings for October 2026 of approximately $50,900 per day, gross.
- Declared a cash dividend of $0.20 per common share for October 2026.
- Acquired an additional 1,800 shares in Peak Maritime for NOK 0.5 million, increasing the Company’s total ownership in Peak Maritime to 60%.
- Entered into new time charter agreements with their existing charterer for two vessels for a minimum period until October 1, 2027 with a 3-year evergreen structure thereafter at an index-linked rate, reflecting a significant premium to the Baltic 5TC 180 Capesize Index.