The dual-fuel Newcastlemax vessel will have a deadweight tonnage (dwt) of 210,000. Credit: Ian Taylor / Unsplash.

China’s New Times Shipyard has handed over a second Newcastlemax vessel to Bermuda-based Himalaya Shipping.

Named Mount Ita, the new ship is the second of 12 Newcastlemax newbuilds ordered by the Bermudian company.

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The dual-fuel, long-range Newcastlemax vessels will each have a deadweight tonnage (dwt) of 210,000.

The newly delivered ship will begin a 32 to 38-month time charter, which includes an 11 to 13-month option, while earning an index-linked rate.

Profit sharing of any economic benefit generated from operating the vessel on liquefied natural gas (LNG) or its scrubber is also included in the time charter.

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Furthermore, the deal includes certain rights for the conversion of the time charter to fixed rates depending on the ‘prevailing forward freight agreement (FFA) curve from time to time’.

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Himalaya Shipping contracted CEO Herman Billung said: “We are excited to take delivery of the second vessel, which is chartered on an index-linked time charter, earning a significant premium to a standard Capesize vessel.

“We are thankful to the shipyard, which have delivered a high-quality vessel on time, despite the difficult lock-down situation in China.”

Last week, Himalaya Shipping took delivery of the first dual fuel and long-range Newcastlemax vessel from New Times Shipyard.

This vessel will start a two-year time charter at $30,000 a day, gross, stated the company.