Greece’s Performance Shipping has secured employment for three of its ships under construction with Clearlake Shipping, a subsidiary of commodity trading giant Gunvor.
The Nasdaq-listed tanker owner has fixed its LNG-ready, scrubber-fitted LR2 newbuildings for five years each at $31,000 per day.
Clearlake also has two one-year extension options at disposal which include a base rate plus profit share, if declared.
The vessels should start their contracts upon delivery from CSSC-affiliated Shanghai Waigaoqiao Shipbuilding in the fourth quarter of 2025, the first quarter of 2026, and the second quarter of 2026.
“These contracts highlight our prudent approach in securing long-term fixed revenue at profitable charter rates and achieving significant cash flow visibility during the initial years of operation of our three newbuilding sister ships,” said Andreas Michalopoulos, chief executive at Performance Shipping.
The firm deal is worth about $169.8m of some 88% of the aggregate construction costs of the vessels, according to Performance, which has now bolstered its fleet-wide fixed revenue backlog to at least $211.4m.
