In a saucepan saute onion, green bell pepper and garlic in oil. Add ham, parsley, thyme and bay leaves. Cook for 5 minutes, stirring often.
Add water, hot pepper sauce, tomatoes, tomato sauce and salt. Simmer 5 minutes then add rice. Reduce heat and cook covered for 30 minutes. Add shrimp and continue cooking, covered, another 10 minutes. Remove bay leaves before serving. Serve hot.