Performance Shipping fixes fifth tanker on period deal

Greek tanker owner Performance Shipping has fixed another one of its aframax tankers on a period deal.

The Nasdaq-listed company has sealed a deal with Aramco Trading Fujairah FZE to charter the 2011-built 104,588 dwt Briolette for 18 months starting November at $32,500 per day.

Performance Shipping said the charter would generate $16.8m in gross revenue.

Chief executive Andreas Michalopoulos said the charter was the company’s fifth on rates ranging from $23,000 per day to $45,000 per day, corresponding to fixed revenues of around $85m.

“We expect to further supplement this steady cashflow through the operation of our remaining tankers in the spot market, which we believe demonstrates sustainably strong fundamental conditions, resulting in historically high levels of voyage charter rates for Aframax tankers, currently in excess of US$40,000 per day,” he added.

Earlier this month, the company agreed to lease its recently acquired aframax Phoenix Beacon to Glencore’s Singapore-based ST Shipping and Transport for two years beginning in December at a daily rate of $32,000. 

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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