Himalaya Technologies Inc. (HMLA)
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Himalaya Shipping: Top-Spec Fleet And Macro Tailwinds At An Attractive Discount
Himalaya's fleet of 12 Newcastlemax dual-fuel ships with scrubbers ensures competitive performance, with index-linked charters outperforming market rates. For 3Q24 HSHP reported rising revenue, EBITDA, and EPS YoY and QoQ. A catalyst event on the horizon is the Simandou Project in Guinea. The first iron ore shipment is expected in 2025.
With Newbuild Fleet, Himalaya Shipping Is Worth Keeping An Eye On
Himalaya Shipping, a newcomer in the dry bulk sector, operates 12 new Newcastlemax vessels, focusing on dual fuel with liquid natural gas and pays variable monthly dividends. Himalaya Shipping's commitment to returning excess cash flow to shareholders and potential for increased dry bulk demand positions it as a promising investment for income-focused investors. Despite recent lows due to weak charter rates, Himalaya Shipping's price/book ratio of 1.32 is notably lower than the sector median of 2.91, indicating potential value.
Himalaya Shipping: Speculative Bet On Strong Capesize Market
Himalaya Shipping delivered strong 2Q24 results with increased revenue, and operating income. HSHP's fleet, consisting of 12 Newcastlemax vessels with dual-fuel LNG propulsion, ensures higher TCE rates and compliance with environmental regulations. Despite a highly leveraged balance sheet, HSHP's valuation is attractive at 82% PNAV, making it a speculative yet promising investment in the dry bulk segment.
