Norway’s Himalaya Shipping may be beating rate indices but remained below break-even last month.

The Tor Olav Troim-backed owner of new dual-fuel newcastlemax bulkers said its fleet-wide average time charter equivalent (TCE) figure for August was $20,800 per day, down from $22,300 in July.

The five ships trading on index-linked deals managed $18,700 per day, including average daily scrubber benefits of $1,700.