Greek owner Performance Shipping has sealed a deal with compatriot Phoenix Energy Navigation to purchase its 2011-built aframax tanker Phoenix Beacon for $35m.
The Nasdaq-listed aframax specialist said the Hyundai Heavy Industries-built 105,525 dwt vessel is expected to deliver by early December 2022 and will be renamed P. Monterey.
The vessel, which VesselsValue estimates as worth just shy of $39.5m, is fitted with a ballast water treatment system, and its next scheduled special survey is not due until 2026.
Performance Shipping, formerly Diana Containerships, has purchased three ships in a short span of six months and this latest addition takes its fleet to eight tankers. The company said it would finance the deal with cash on hand and the incurrence of debt through a new $30m senior secured facility that it should enter into prior to the delivery of the vessel.