Himalaya Shipping Ltd. (HMLS), a player in the shipping industry, reported a sharp increase in its fourth-quarter profit on Tuesday.
This was driven by higher charter rates, which boosted revenues. However, the company's full-year earnings declined due to rising costs and higher financial expenses.
For the fourth quarter, Himalaya Shipping's total operating revenues increased to $42.1 million, up from $29.6 million in the same period of 2024. Operating income rose to $26.0 million, compared with $14.0 million a year earlier, as revenue growth outpaced a modest rise in operating expenses.
Net income surged to $13.5 million, from $1.1 million in the prior-year quarter, reflecting stronger time charter equivalent earnings and stable depreciation costs.
For the full year, Himalaya Shipping's operating revenues rose to $131.9 million, from $123.6 million in 2024. Operating income edged higher to $68.2 million, compared with $66.7 million a year earlier. However, net income declined to $17.7 million, from $21.1 million, as higher vessel operating costs, depreciation, and financial expenses offset revenue growth.
EBITDA increased to $97.4 million for the year, up from $93.2 million, while fourth-quarter EBITDA rose to $33.3 million, compared with $21.3 million a year earlier.
HSHP.OL is currently trading at NOK 103.80, up NOK 2.80 or 2.77 percent on the Oslo Stock Exchange.
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