Performance Shipping fixes aframax to Teekay

Greek owner Performance Shipping has fixed out its 2011-built aframax tanker Blue Moon to Teekay Chartering.

The Nasdaq-listed company said the charter commenced yesterday at $23,000 per day for a period of approximately two years. The new charter is expected to generate about $16.8m in revenue.

Performance Shipping is focused mainly on spot market deployment via voyage charters or participation in aframax tanker pools that provide shareholders with exposure to cyclical fluctuations in charter rates.

However, Andreas Michalopoulos, CEO of Performance Shipping, explained that: “Considering recent market developments, this attractive time charter rate and our valued relationship with Teekay Tankers, we took this opportunity to secure a significant level of fixed revenue for one of our vessels.”

Performance Shipping owns and operates a fleet of six aframax tankers.

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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