Performance Shipping fixes another aframax to Glencore’s ST Shipping at bumper rate

Greek tanker owner Performance Shipping has secured long-term employment for its recently acquired aframax Phoenix Beacon in a new and improved charter deal with Glencore’s Singapore-based ST Shipping and Transport.

The new contract is set to start at $32,000 per day following the vessel’s delivery in December and last 24 months with options to extend or reduce the charter for 45 days.

End-October the company also fixed the 2011-built aframax P Yanbu to Glencore’s shipping arm for two years at $30,000 per day.

The Nasdaq-listed company said it expects to earn at least $22m from the new deal.

Performance Shipping will have four aframaxes under time charter contracts with fixed revenues of at least $68m, while the remaining three ships are operating in the spot market through their participation in pools.

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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