Himalaya Shipping Ltd. Q2 2026 Earnings Recap

Shares of Himalaya Shipping declined 2.5% following Q2 results, reflecting investor caution despite solid profitability and strong charter rates, likely due to modest margin pressure and a cautious outlook on contract mix and market exposure.

Key Takeaways

• Reported net profit of $24.6 million and EPS of $0.52, significantly improved from prior year’s $1.1 million and $0.02 respectively.
• Q2 EBITDA reached $44 million, more than double the prior year’s $20.9 million, driven by time charter equivalent (TCE) earnings rising to $50,600/day.
• Vessel operating expenses held steady at $7.1 million, with OpEx per day per vessel stable at $6,500.
• Interest expense declined slightly to $12.4 million due to reduced loan principal following repayments.
• Market positioning remains exposed with 10 of 12 vessels on index-linked contracts to capture spot upside, but recent fixed-rate contract conversions at lower day-rates (~$51,200) suggest cautious revenue visibility.