Himalaya Shipping Reports Strong Q3 2026 Growth Driven by High Charter Rates
Himalaya Shipping (HSHP) reported significant year-over-year growth in its third quarter 2026 earnings, with net income rising to $33.3 million ($0.71 per share) from $9.5 million in the prior-year period. The company's performance was bolstered by higher daily charter rates and a modern fleet of dual-fuel Newcastlemax carriers, which achieved Time Charter Equivalent (TCE) earnings of $58,400 per day—a 40% premium over the Baltic Capesize index. Operating revenues climbed to $62.6 million, up from $37.9 million in Q3 2025, while EBITDA reached $52.7 million. Management highlighted structural shifts in dry bulk trades, specifically noting a 26.6% year-over-year growth in bauxite tonne-miles due to record exports from Guinea to China. Despite potential macroeconomic risks regarding the Chinese economy, the company maintains a strong cash position and has transitioned several vessels to fixed rates through March 2027.
Topics: Cash Distributions Charter Rates EBITDA Net Income Revenue Growth