Performance Shipping adds another aframax with FSL deal

Performance Shipping adds another aframax with FSL deal

Greek owner Performance Shipping, formerly Diana Containerships, continues its transformation into a pure-play aframax owner with the addition of another vessel.

The company has acquired 2007-built aframax  FSL Shanghai from Singapore’s First Ship Lease Trust for $26m. The vessel, which is valued by MSI at $23.1m, is scheduled for delivery by the end of March. 

Andreas Michalopoulos, deputy CEO of Performance Shipping, commented: “We are very pleased with this acquisition, which brings us one step closer to the creation of the only publicly listed pure-play aframax company. We believe that the company is well positioned to take advantage of favorable charter rates in the future.”

The acquisition will see Performance Shipping’s fleet grow to five vessels made up of four aframaxes and a panamax containership.

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.

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