Himalaya Shipping’s First LNG Bunkering in Singapore

by Admin
Himalaya Shipping first LNG bunkering singapore

Himalaya Shipping is proud to announce that two of its ships, Mount Norefjell and Mount Matterhorn, have bunkered with LNG in Singapore over the last few days.

A Newcastlemax running on LNG reduces its CO2 emissions by 43% compared to a standard Capesize ship, in addition to significantly reducing SOx and NOx.

On July 31, 2023, LNG prices (adjusted for calorific values) were $472/t compared to $537/t for HFO and $610/t for VLSFO.

Herman Billung, CEO, Himalaya Shipping, Said:

“We are pleased to witness the inaugural LNG bunkering of the Himalaya ships. The environmental and economic benefits of running on LNG make us confident in our choice to invest in dual fuel engines. The high LNG prices observed in the aftermath of the Russia-Ukraine conflict appear to be stabilizing, and we believe that over time, LNG prices will trade at a discount to oil. Among the approximately 2000 Capesize+ dry bulk ships worldwide, fewer than 2% can operate on LNG. Therefore, Himalaya Shipping is well positioned to capitalize on the introduced environmental regulations,”

About Himalaya Shipping Ltd.

Himalaya Shipping Ltd. is an independent bulk carrier company incorporated in Bermuda. Himalaya Shipping currently operates five vessels and has seven Newcastlemax dry bulk vessels under construction at New Times Shipyard in China. The remaining newbuildings are expected to be delivered by July 2024.

Source Himalaya Shipping