Performance Shipping takes fleet to eight with $35m aframax deal

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.

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.
Back to top button