0001140361-23-029369.txt : 20230613 0001140361-23-029369.hdr.sgml : 20230613 20230613063451 ACCESSION NUMBER: 0001140361-23-029369 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20230613 FILED AS OF DATE: 20230613 DATE AS OF CHANGE: 20230613 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Himalaya Shipping Ltd. CENTRAL INDEX KEY: 0001959455 STANDARD INDUSTRIAL CLASSIFICATION: DEEP SEA FOREIGN TRANSPORTATION OF FREIGHT [4412] IRS NUMBER: 000000000 STATE OF INCORPORATION: D0 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 6-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-41676 FILM NUMBER: 231010198 BUSINESS ADDRESS: STREET 1: S.E. PEARMAN BLDG., 2ND FLOOR STREET 2: 9 PAR-LA-VILLE ROAD CITY: HAMILTON STATE: D0 ZIP: HM 11 BUSINESS PHONE: 441-737-0152 MAIL ADDRESS: STREET 1: S.E. PEARMAN BLDG., 2ND FLOOR STREET 2: 9 PAR-LA-VILLE ROAD CITY: HAMILTON STATE: D0 ZIP: HM 11 6-K 1 brhc20054333_6k.htm 6-K
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549


FORM 6-K


REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 UNDER
THE SECURITIES EXCHANGE ACT OF 1934

For the month of June 2023

Commission File Number 001-41676

Himalaya Shipping Ltd.
(Exact name of Registrant as specified in its charter)


Not applicable
(Translation of Registrant’s name into English)


S. E. Pearman Building
2nd floor, 9 Par-la-Ville Road
Hamilton HM 11
Bermuda
(Address of Principal Executive Office)


Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F ☒      Form 40-F ☐

Exhibits.

Exhibit
  
Description
     
 
Press release

2
SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Himalaya Shipping Ltd.
   

By:
/s/ Herman Billung

Name:
Herman Billung

Title:
Chief Executive Officer



Date: June 13, 2023    


3
 EX-99.1 2 brhc20054333_ex99-1.htm EXHIBIT 99.1
Exhibit 99.1
 
Himalaya Shipping Ltd. (HSHP) – Commercial Update

Hamilton, Bermuda, June 13, 2023

In May 2023, the Company achieved average time charter equivalent (“TCE”) earnings of approximately US$28,300 per day, gross1. The Company’s two vessels trading on index-linked time charter earned approximately US$27,400 per day, gross, including average daily scrubber benefits of approximately US$2,500 per day. The Company’s only vessel trading on fixed time charter earned US$30,000 per day, gross.
 
The Baltic 5TC Capesize Index averaged US$17,773 during May 2023.

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 four vessels in operation and eight Newcastlemax dry bulk vessels under construction at New Times Shipyard in China. The remaining newbuildings are expected to be delivered by July 2024.

Forward Looking Statements:

This announcement includes forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements  include statements relating to the expected delivery date of our remaining newbuildings under construction and other non-historical statements. These forward-looking statements are based on current expectations or beliefs, and are subject to uncertainty and changes in circumstances. These forward-looking statements are subject to a number of risks and uncertainties, which could cause the actual results to differ materially from those indicated in such forward-looking statements. Such risks include risks relating to the delivery of our remaining newbuild vessels including the timing thereof and other risks, including those set forth under the heading “Risk Factors” in our Registration Statement on Form F-1/A filed with the U.S. Securities and Exchange Commission.  Except as required by law, we undertake no obligation to update these forward-looking statements, whether as a result of new information, future events, or otherwise.

1 Average TCE earnings is a non-U.S. GAAP measure of the average daily revenue performance of a vessel. Average TCE rate, gross, when used by the Company, means time charter revenues and voyage charter revenues excluding address commission, and adjusted from “load to discharge” basis to “discharge to discharge” basis and divided by operational days. Our management believes average TCE revenues can provide additional meaningful information for investors to analyze our fleets’ daily income performance.  Our calculation of such figure may not be comparable to that reported by other companies. Please see Appendix A for reconciliation of this measure to the nearest U.S. GAAP measure.

4
Appendix A – Reconciliation of Non-U.S. GAAP Measures

Time Charter Equivalent (‘TCE”) Earnings, gross

The following table sets forth a reconciliation of time charter revenues to the average daily TCE earnings, gross (unaudited) for the period presented:

(In millions of U.S. dollars except per day data)
  
For the one-month period ended
May 31, 2023
  
Time charter revenues
  
$
2.5
  
Address commission
  
$
0.1
  
Operating revenues, gross
  
$
2.6
  
         
Fleet operational days
    
93
  
Average Daily TCE Earnings, gross
  
$
28,300
  


5