Performance clinches aframax charter extension deal at ‘Juicy’ charter rate

Greek tanker owner Performance Shipping led-by chairperson of its board Aliki Paliou has announced that through its wholly-owned subsidiary has extended the time charter contract for one of its aframax tankers. The company sealed the extension deal for the ship with the ST Shipping & Transport Pte Ltd., a wholly-owned subsidiary of Glencore.

The Nasdaq-listed company reveals that the extension of the charter is for the 2011-built, 105,525 dwt aframax tanker vessel, M/T P. Monterey.

The shipowner reveals that the gross charter rate will be US$28,000 per day for a period of twelve months +/- 30 days at the option of the charterer.

The charter started in mid-January and the company expects that it will bring around US$9.38m of gross revenue to Performance Shipping for the minimum duration of the charter.

Commenting on the charter, Andreas Michalopoulos, the company’s chief executive officer, stated: “We are pleased to announce the direct continuation of the previous time charter contract with ST, a testament to our strong, long-standing partnerships and repeat business with reputable and creditworthy counterparties.

“This charter also