Himalaya Shipping Ltd. · OSL:HSHP
Himalaya Shipping — Q2 2026 Earnings Presentation
21 slides from Himalaya Shipping's earnings presentation, Aug 11, 2026
Slide 1: Himalaya Shipping – Q2 2026 Results Presentation
Himalaya Shipping – Q2 2026 Results Presentation 11 August 2026 1
Slide 2: Forward looking statements
Forward looking statements This results presentation and any related discussions, including any related written or oral statements made by us in this presentation, contain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934 that are subject to risks an
Slide 3: Highlights
Highlights Q2 2026 Highlights: • Net income of $24.6 million and EBITDA of $44.0 million for the quarter ended June 30, 2026. • Achieved time charter equivalent earnings of approximately $50,600 per day, gross. • Entered into a new time charter agreement for the Mount Emai for a period of 12 to 14 m
Slide 4: Financial Update
Financial Update 4
Slide 5: Key Financials Q2 2026
Key Financials Q2 2026 Income statement Comments • Operating revenues increased by $23.8 million compared to Q2 2025 due to higher average TCE, gross, from approx. US$28,400/day in Q2 2025 to US$50,600/day in Q2 2026. • Vessel operating expenses was unchanged in Q2 2026 compared to Q2 2025. Average
Slide 6: Key Financials Q2 2026
Key Financials Q2 2026 Balance Sheet Summary Comments March US$ millions June 30, 2026 Variance 31, 2026 • Cash and cash equivalents of $34.8 million as of June 30, 2026 including minimum cash balance required under the sale leaseback financing of $12.3 million. Cash and cash equivalents 34.8 24.5 1
Slide 7: Company update
Company update 7
Slide 8: Himalaya Shipping
Himalaya Shipping 12 modern 210,000 DWT Newcastlemax LNG DF vessels. Top 1% emission rating for large bulk carriers Market cap ~$747 mln All vessels fixed on long term index Gross debt $688 mln/57 mln per vessel, charters with market leading premiums estimated LTV 57% at average 141 % and solid coun
Slide 9: Chartering position
Chartering position Fleet status report – Current Himalaya Shipping Fleet Status Report 2026 2027 Vessel Name Built Type Q2 Q3 Q4 Q1 Q2 Q3 Q4 Dual Fuel Newcastlemax Mount Norefjell 2023 DF Newcastlemax Index Mount Ita 2023 DF Newcastlemax Index Mount Etna 2023 DF Newcastlemax Index/fixed 51,200 Moun
Slide 10: Proven Outperformance through Large and Modern Tonnage
Proven Outperformance through Large and Modern Tonnage HSHP TCE vs Peers and Index 55,000 HSHP avg. premium vs. index ~48% HSHP avg. premium vs. peers ~25% 50,000 Last 3 years 45,000 40,000 USD Per Day 35,000 30,000 25,000 20,000 15,000 10,000 2q23 3q23 4q23 1q24 2q24 3q24 4q24 1q25 2q25 3q25 4q25 1
Slide 11: Solid dividend capacity
Solid dividend capacity Illustrative FCF $ per share based on Capesize index rate Himalaya USD p.a FCFE/sh 10.2 9.0 7.8 6.5 5.3 4.0 2.8 1.57 0.00 17,507 30,000 40,000 50,000 60,000 70,000 80,000 90,000 100,000 1. This information ha s been p repa red for illustrative purposes only a nd does not rep
Slide 12: Market update
Market update 12
Slide 13: Strong Q2 and solid start to Q3
Strong Q2 and solid start to Q3 Baltic 5TC Index 90,000 80,000 70,000 - Cargo volumes further up - Strong Chinese demand - Simandou volumes onstream 60,000 - July all time high 50,000 40,000 30,000 20,000 10,000 0 J F M A M J J A S O N D 2015-25 max-min range 2024 2025 2026 2021-25 average Source: C
Slide 14: Capesize Tonne-miles
Capesize Tonne-miles Capesize Daily Billion Ton-mile Development (30dms*) Cape tonne-mile development year on year Q2 2026 1350 Tonne-mile Growth Q2Y/Y Growth 1300 Total Capesize +4.9% 1250 Iron Ore +2% 1200 30day bn tonne miles Bauxite +7.7% 1150 Coal +15.3% 1100 1050 1000 Export Data (MT) Q2 Y/Y G
Slide 15: Iron Ore – Record seasonal seaborne volumes in Q2 2026
Iron Ore – Record seasonal seaborne volumes in Q2 2026 Global Iron Ore Exports (Mt/month) China Seaborne Iron Ore Imports (Mt/month) 185.0 130.0 120.0 Million tonnes 175.0 110.0 100.0 165.0 90.0 80.0 Million tonnes 155.0 70.0 J F M A M J J A S O N D 2022 2023 2024 2025 2026 145.0 China – Imported Ir
Slide 16: Bauxite market – strength that translates into tonne-mile demand
Bauxite market – strength that translates into tonne-mile demand Global Daily Capesize Bauxite Shipments (Mt, 30dma*) Capesize Fleet Demand Split (% of tonnemiles) 0.8 100% 13% 12% 90% 17% 17% 0.7 23% 21% 21% 21% 20% 19% 19% 19% 80% 6% 0.6 1% 1% 3% 4% 5% 7% 11% 16% 18% 9% 10% 70% 30 days mMT/day 0.5
Slide 17: Significant iron ore volume increase – driving ton/mile demand
Significant iron ore volume increase – driving ton/mile demand Addition iron ore volumes in Atlantic basin (MT/y) – 3x longer than from Australia Simandou volumes per quarter 2026 Simandou project – Guinea Commenced Nov 2025 Vale capacity increases by 2027 Volumes gathering momentum 20 170 8 15 7 15
Slide 18: Limited supply of new ships
Limited supply of new ships Low orderbook Supportive OB/Fleet Ratio Nominal orderbook vs existing fleet 40.0 % 40.0 % 450 37.0 % 400 350 28.0 % 300 25.0 % 23.0 % Million DWT 250 21.0 % 20.0 % 200 16.0 % 14.0 % Orderbook 150 16% of fleet 100 50 0 1996 2004 2008 1998 2002 2000 2006 2018 2014 2012 2016
Slide 19: The supply situation
The supply situation Capesize+ fleet by delivery year in # ships ~54% of the fleet >20 years by 2034* 350 % of fleet # ships turning # of Vessels Vessels built before 2009 Vessels built between Vessels built post-2015 Year >20 years (inc. 2009 and 2015 unaffected by 2031* 20 years Delivered OB) 300
Slide 20: Ageing fleet and mandatory dry-docking increasing
Ageing fleet and mandatory dry-docking increasing Off hire due to increase from docking Capesize average age Supply constraints schedule 16 35% 1.8 % 1.7 % • 2011 was a big delivery year - 14 30% hence over 12% of the fleet will engage in 15 year SS in 2026 (24% 12 of the cape fleet will need dry 25
Slide 21: Thank you
Thank you 21
Himalaya Shipping Ltd. Common Shares — Q2 2026 Earnings Presentation on 6ix