Himalaya Shipping, the Tor Olav Trøim-backed dry bulk owner, has switched two of its newcastlemax bulkers from index-linked employment to fixed-rate charters averaging $51,200 per day, Splash247 reported. The five-month cover runs from August 1 through to the end of 2026 and is worth about $15.7m in gross hire across the two ships, according to the publication.
The vessels were not named, but Himalaya’s entire 12-strong fleet comprises 210,000 dwt LNG dual-fuel newcastlemaxes, Splash247 noted. Both vessels will continue to earn scrubber benefits under their existing charter agreements, the report said.
Fixed-rate trend across three fixtures
Himalaya Shipping has fixed two newcastlemax bulkers at an average of $51,200 per day for five months, representing about $15.7m in gross hire, Splash247 reported.
The latest conversion was struck at a significantly higher level than a similar move last August, when Himalaya fixed another two vessels at an average of $38,700 per day for the final quarter of 2025, Splash247 reported. More recently, Himalaya converted four ships to fixed rates averaging $56,500 per day for June, the publication said.
The company reported fleetwide gross time charter equivalent (TCE) earnings of $52,900 per day in June, including average scrubber benefits of $1,300 per vessel per day, according to Splash247.
| Fixture | Vessels | Average daily rate | Period |
|---|---|---|---|
| Latest conversion | 2 | $51,200 | Aug 1 – end 2026 (5 months) |
| June conversion | 4 | $56,500 | June 2026 |
| August 2025 conversion | 2 | $38,700 | Final quarter 2025 |
| June fleetwide gross TCE | 12-ship fleet | $52,900 (incl. $1,300 scrubber benefit) | June 2026 |
Table: Fixture data as reported by Splash247.
Index-linked fixture for Mount Aconcagua
Beyond the fixed-rate conversions, Himalaya’s most recent fixture saw the 2024-built Mount Aconcagua secured for 16 to 18 months on an index-linked rate at a premium to the Baltic 5TC benchmark, Splash247 reported. That fixture keeps one vessel on index exposure while the two newly converted ships move onto fixed hire.
Implications for charterers and operators
For freight forwarders, charterers and dry bulk operators, the series of fixed-rate fixtures provides a rate reference for newcastlemax tonnage over different time horizons. At $51,200 per day on a five-month cover, the latest conversion sits between the $38,700/day fixture for the final quarter of 2025 and the $56,500/day rate fixed for June 2026, according to Splash247. This sequence shows the range of fixed-rate levels Himalaya has accepted within roughly a year.
Operators should also note the dual-fuel, LNG-capable nature of the vessels: the entire 12-strong fleet consists of 210,000 dwt newcastlemax bulkers, and both ships in the latest fixed-rate switch continue to earn scrubber benefits, according to Splash247. The gross hire of about $15.7m across the two ships gives a concrete revenue figure for this five-month period.
Watch list
- Whether Himalaya announces additional fixed-rate conversions for the rest of its 12-strong fleet, following fixed-rate moves in August 2025, June 2026 and August 2026, as reported by Splash247.
- The movement of the Baltic 5TC benchmark over the 16- to 18-month Mount Aconcagua fixture, which is set at a premium to that index, per Splash247.
- Scrubber benefit calculations under the existing charter agreements for the two vessels now on fixed hire through end-2026.
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