Himalaya Shipping Ltd. (HSHIP) - Delivery of Mount Ita and commencement of charter

09 Mar 2023 08:42 CET

Hamilton, Bermuda, 9 March 2023,

Himalaya Shipping is pleased to announce that it has successfully taken delivery
of the second of the twelve 210,000 dwt Newcastlemax newbuildings the Company
has on order from New Times Shipyard.

The vessel ("Mount Ita") will commence a 32 - 38 month time charter plus option
for 11- 13 months and will earn an index-linked rate, reflecting a significant
premium to a standard Capesize vessel. The time charters also include 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 prevailing forward freight agreement (FFA) curve from time to
time.

"We are excited to take delivery of the second vessel, which is chartered on an
index-linked time charter, earning a significant premium to a standard Capesize
vessel. We are thankful to the shipyard which have delivered a high-quality
vessel on time, despite the difficult lock-down situation in China." says Herman
Billung, contracted CEO of Himalaya Shipping.

For further queries, please contact:

Herman Billung, Contracted CEO

Telephone +47?918 31?590

About Himalaya Shipping Ltd.:

Himalaya Shipping Ltd. is an independent bulk carrier company, incorporated in
Bermuda. Himalaya Shipping has two vessels in operation and ten Newcastlemax dry
bulk vessels under construction at New Times Shipyard in China. The remaining
newbuildings are expected to be delivered by August 2024.

Forward Looking Statements

This announcement includes forward looking statements. Forward looking
statements are, typically, statements that do not reflect historical facts and
may be identified by words such as "anticipate", "believe", "continue",
"estimate", "expect", "intends", "may", "should", "will" and similar
expressions, and include statements relating to our statements with respect to
the delivery of Mount Ita and the terms of its charter. The forward-looking
statements in this announcement are based upon various assumptions, many of
which are based, in turn, upon further assumptions. Although Himalaya Shipping
Ltd. believes that these assumptions are reasonable, they are, by their nature,
uncertain and subject to significant known and unknown risks, contingencies and
other factors which are difficult or impossible to predict and which are beyond
our control. Such risks, uncertainties, contingencies and other factors could
cause actual events to differ materially from the expectations expressed or
implied by the forward-looking statements included herein.

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