Himalaya Shipping is continuing its shift from index-linked earnings, converting two more newcastlemaxes to fixed-rate charters.

The Tor Olav Troim-backed, Oslo-listed owner said the vessels will move onto fixed hire from October 1 until the end of the year. The two dual-fuel ships will earn an average of $38,700 per day, while also continuing to benefit from scrubber premiums under their existing charter terms.

Himalaya began the switch in March, putting two of its 210,000 dwt LNG dual-fuel bulkers onto fixed charters, followed by another four in July. Those six units are on contracts averaging $34,000 per day until the end of September.

Once the latest pair rolls over, four vessels in the 12-strong Himalaya fleet will be trading on fixed-rate deals at an average of $35,200 per day, with the remainder on index-linked employment.

The Lars-Christian Svensen-led company has been reporting earnings well above market benchmarks. In the second quarter of 2025, the Baltic Capesize Index averaged $18,681 per day, while Himalaya’s fleet achieved about $28,400 per day. For July, the company reported average TCE earnings of $32,700.