The July TCE of ~$51,200/day is strong relative to the Baltic Capesize Index average of $35,143, reflecting the premium from index-linked charters and scrubber benefits. The $0.22/share distribution provides a ~3.7% annualized yield at current prices. Monitor Capesize rate trends and upcoming monthly TCE updates for directional signals on fleet earnings.
Price Chart
Executive Summary
Himalaya Shipping reported July 2026 average TCE earnings of ~$51,200/day (including ~$2,100/day scrubber benefit), with all 12 vessels on index-linked charters. The board approved a $0.22/share cash distribution for June 2026, payable from contributed surplus. The Baltic 5TC 180 Capesize Index averaged $35,143 in July, providing context for the fleet's earnings.
Key Facts
- Average TCE earnings of ~$51,200/day in July 2026, including ~$2,100/day scrubber benefit
- All 12 vessels trading on index-linked time charters in July
- Board approved $0.22/share cash distribution for June 2026, payable from contributed surplus
- Baltic 5TC 180 Capesize Index averaged $35,143 during July 2026
- Time charter revenues of $18.4M and gross operating revenues of $19.0M for July 2026
- 372 fleet operational days in July 2026
Financial Impact
July TCE of ~$51,200/day implies annualized revenue run-rate of ~$228M on 372 operational days; $0.22/share distribution equates to ~$9.7M total payout based on ~44M shares outstanding
Risk Factors
- Capesize index rates are volatile and directly impact future TCE earnings
- One vessel's earnings lag by one month due to contract terms, creating reporting noise
- Cash distributions from contributed surplus may not be sustainable if rates decline
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0001959455-26-000106 |
| Document: hslpressreleaseaugust11202a.htm | 0001959455-26-000106 |
| Document: 0001959455-26-000106-index-headers.html | 0001959455-26-000106 |
| Document: 0001959455-26-000106-index.html | 0001959455-26-000106 |
| Document: 0001959455-26-000106.txt | 0001959455-26-000106 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 7, 2026 20d ago | 6-K | $17.62 | awaiting T+60 | — | $16.76 (−4.88%) |
Sep 8, 2026 7w ago | 6-K | $18.16 | awaiting T+60 | — | $16.76 (−7.71%) |
Aug 27, 2026 8w ago | 6-K | $16.30 | awaiting T+60 | — | $16.76 (+2.82%) |
Aug 18, 2026 9w ago | 6-K | $15.83 | awaiting T+60 | — | $16.76 (−5.87%) |
Aug 11, 2026 11w ago | 6-K | $15.51 | awaiting T+60 | — | $16.76 (+8.06%) |
Aug 11, 2026 11w ago | 6-K | $15.51 | awaiting T+60 | — | $16.76 (+8.06%) |
Aug 11, 2026 11w ago | 6-K | $15.51 | awaiting T+60 | — | $16.76 (+8.06%) |
Aug 11, 2026 11w ago | 6-K | $15.51 | awaiting T+60 | — | $16.76 (+8.06%) |
Jul 14, 2026 15w ago | 6-K | $15.69 $17.62 | ▲ +12.30% | ▲ +8.92% | $16.76 (+6.82%) |
Jul 8, 2026 15w ago | 6-K | $15.28 $18.05 | ▲ +18.13% | ▲ +15.63% | $16.76 (+9.69%) |
US Market Status
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