Performance Shipping charters aframax to Glencore’s ST Shipping

Greek tanker owner Performance Shipping has chartered out its aframax P Yanbu to Glencore’s Singapore-based ST Shipping and Transport.

The contract of the 2011-built vessel is set to commence in December at $30,000 per day and last 24 months with options to extend or reduce the charter for 45 days.

Performance Shipping now has three aframaxes under contract at rates ranging from $23,000 to $45,000 per day, with the remaining four ships operating in the spot market through their participation in pools and currently earning more than $40,000 per day.

The Nasdaq-listed company said it expects to earn at least $20.6m from the new deal.

In August, Performance Shipping acquired its first product tanker Alpine Amalia from Glencore’s shipping arm for $36.5m. It also offloaded the 2007-built P Fos to an undisclosed buyer earlier this month in a $34m deal

Adis Ajdin

Adis is an experienced news reporter with a background in finance, media and education. He has written across the spectrum of offshore energy and ocean industries for many years and is a member of International Federation of Journalists. Previously he had written for Navingo media group titles including Offshore Energy, Subsea World News and Marine Energy.
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