SBLK - Himalaya Shipping Is Still Not Our Choice
2024-05-29 07:13:02 ET
Summary
- Himalaya Shipping is a small and young company.
- To finance this venture, sale of vessels with leaseback is chosen.
- Compared to well-established peers with excellent balance sheets, HSHP needs to build equity before they should think about returning capital.
Investment Thesis
In November last year, we maintained a Hold stance on Himalaya Shipping Ltd. ( HSHP ).
We are generally bullish on the drybulk and tanker sector within the maritime shipping industry. This can be seen from our buy calls on companies such as Star Bulk Carriers ( SBLK ), Golden Ocean Group ( GOGL ), Frontline ( FRO ) and DHT Holdings ( DHT )....
Himalaya Shipping Is Still Not Our Choice