Operator

Welcome to Himalaya Shipping Q1 2026 Financial Results Presentation. Today's call is being recorded. [Operator Instructions]

I will now turn the call over to CEO, Lars-Christian Svensen. Please begin.

Lars-Christian Svensen
Contracted Chief Executive Officer

Thank you, operator. Welcome to the Q1 2026 Conference Call for Himalaya Shipping. My name is Lars-Christian Svensen, and I will be joined here today by our CFO, Vidar Hasund.

Before we start the presentation, I would like to remind you that we will be discussing matters that are forward-looking. These assumptions reflect the company's current views regarding future events and are subject to risks and uncertainties. Actual results may differ materially from those anticipated.

I will now continue with the highlights of the quarter. We reported a net profit of $5 million and an EBITDA of $24.5 million. The time charter equivalent earnings for the quarter was approximately $32,300 per day. We entered into new index time charter agreements for both the Mount Ita and the Mount Matterhorn for a period of 11 to 14 and 12 to 14 months, respectively, at significant premiums to the prevailing indices.

Cash distributions for the quarter totaled $0.18. The company also entered into a contract to acquire an additional 4,200 shares in 2020 Bulkers Management AS from 2020 Bulkers Limited for NOK 1.1 million, which will be effective on April 1, 2026, increasing our total ownership from 40% to 54%.

In subsequent events, we achieved time charter equivalent earnings for April 2026 of about $41,600 per day, and we declared a cash distribution