The monthly TCE of $52,900/day continues to reflect a significant premium (~49%) to the Baltic Capesize Index of $35,414, demonstrating effective chartering strategy. The $0.22/share distribution is sustained. Monitor the next 20-F for YoY earnings comparisons and fleet utilization rates, and watch Baltic Capesize Index trends for directional read-through to future TCE.
Price Chart
Executive Summary
Himalaya Shipping reported June 2026 TCE earnings of ~$52,900/day with the Baltic Capesize Index averaging $35,414, and declared a $0.22/share cash distribution. The filing shows strong operational performance relative to the benchmark index, sustained cash returns to shareholders, and full fleet utilization across 12 vessels.
Key Facts
- Average TCE earnings of ~$52,900/day in June 2026, including ~$1,300/day scrubber benefits
- Seven index-linked vessels earned ~$52,500/day, five fixed-charter vessels earned ~$53,400/day
- Baltic 5TC 180 Capesize Index averaged $35,414 in June 2026
- Board approved $0.22/share cash distribution from Contributed Surplus for June 2026
- Time charter revenues of $18.3M, gross operating revenues of $19.0M for the month
- Fleet operational days: 360 for June 2026
- 12 vessels in operation, fully deployed
Financial Impact
Monthly gross operating revenues of $19.0M from the 12-vessel fleet; $0.22/share distribution amounts to approximately $5.1M at ~23.2M shares estimated outstanding
Risk Factors
- TCE earnings for one vessel are based on prior-month index rates, introducing a lag effect
- Dry bulk spot rate volatility directly impacts index-linked charter earnings
- Cash distributions from Contributed Surplus may not be sustainable if market 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) | 0001959455-26-000096 |
| Document: pressreleasejuly820266-k.htm | 0001959455-26-000096 |
| Document: 0001959455-26-000096-index-headers.html | 0001959455-26-000096 |
| Document: 0001959455-26-000096-index.html | 0001959455-26-000096 |
| Document: 0001959455-26-000096.txt | 0001959455-26-000096 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 7, 2026 20d ago | 6-K | $17.62 | awaiting T+60 | — | $16.82 (−4.54%) |
Sep 8, 2026 7w ago | 6-K | $18.16 | awaiting T+60 | — | $16.82 (−7.38%) |
Aug 27, 2026 8w ago | 6-K | $16.30 | awaiting T+60 | — | $16.82 (+3.19%) |
Aug 18, 2026 10w ago | 6-K | $15.83 | awaiting T+60 | — | $16.82 (−6.25%) |
Aug 11, 2026 11w ago | 6-K | $15.51 | awaiting T+60 | — | $16.82 (+8.45%) |
Aug 11, 2026 11w ago | 6-K | $15.51 | awaiting T+60 | — | $16.82 (+8.45%) |
Aug 11, 2026 11w ago | 6-K | $15.51 | awaiting T+60 | — | $16.82 (+8.45%) |
Aug 11, 2026 11w ago | 6-K | $15.51 | awaiting T+60 | — | $16.82 (+8.45%) |
Jul 14, 2026 15w ago | 6-K | $15.69 $17.62 | ▲ +12.30% | ▲ +8.92% | $16.82 (+7.20%) |
Jul 8, 2026 15w ago | 6-K | $15.28 $18.05 | ▲ +18.13% | ▲ +15.63% | $16.82 (+10.08%) |
US Market Status
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