Himalaya Shipping, which is acquiring a fleet of vessels for maritime shipping of bulk dry goods, filed on Tuesday with the SEC to raise up to $10 million in an initial public offering. Its shares are currently listed on the Oslo Stock Exchange under the symbol “HSHIP”.
Himalaya Shipping is in the process of acquiring 12 Newcastlemax dry bulk vessels. The company has already received 1 and 11 are currently being built at a shipyard in China with delivery dates between March 2023 and August 2024. Utilizing dual fuel LNG technology, Himalaya Shipping aims to increase efficiency of its vessels on a global scale, operating with key trades from Brazil to China and Australia to China. It expects to transport a broad range of major bulk commodities, including iron ore, coal, and bauxite with an aggregate carrying capacity of 2.5 million dwt.
The Hamilton, Bermuda-based company was founded in 2021 and plans to list on the NYSE under the symbol HSHP. DNB Markets and Clarksons Platou Securities are the joint bookrunners on the deal. No pricing terms were disclosed.
