Himalaya Shipping: Newcastlemax-Only Play For Shipping Growth Investors [Seeking Alpha]
Himalaya Shipping Ltd. Common Shares (HSHP)
Company Research
Source: Seeking Alpha
The bulk carriers market is getting stronger, with increasing demand for Capesize/Newcastlemax vessels due to growing exports of iron ore and coal. HSHP has a leveraged balance sheet, which is expected given its new fleet. The company's liquidity will improve with stronger day rates, mitigating the financial risk. HSHP offers 12 new vessels with dual-fuel LNG propulsion and 49% LTV at 80% PNAV. In my opinion, it's still a bargain. Introduction Himalaya Shipping ( NYSE: HSHP ) is one of my top picks for shipping growth stocks. The company owns a fleet of Newcastlemax bulk carriers built in 2023/2024 with dual-fuel LNG propulsion plants. Like VLCCs, Newcastlemax/Capesize has the lowest order book in this segment, though the tonne-mile demand keeps rising. HSHP has leveraged its balance sheet to finance its vessels. Although, the company has improved its liquidity. Over the next four years, HSHP must pay between $20 and $30 million of its debt annually. With higher TC rates, t
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HSHP
Sec Filings
- 4/22/24 - Form 6-K
- 4/9/24 - Form 6-K
- 3/27/24 - Form 6-K
- HSHP's page on the SEC website