Himalaya Shipping (HSHP) reported Q1 2025 results on 05/22/25. Results included
- Operating rev of $22M
- Adj EBITDA $13.8M
- Net Loss of $6.4M
- Completed a private placement and raised $15M
As mentioned in prior HSHP posts, the company is backed by Tor Olav Troim (TOT), and he sometimes likes to take big bets. Switching charters from index-related to fixed charters on two of the vessels seems like a smart move. Gross debt of $721M translates to $60M per vessel, and is quite high for a shipping company.