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Performance Shipping Inc. (NASDAQ:PSHG) ("we" or the "Company"), a global shipping company specializing in the ownership of tanker vessels, is pleased to announce the successful naming and delivery of its first LR2 Aframax newbuilding, M/T P. Massport, constructed at Shanghai Waigaoqiao Shipbuilding Co. Ltd. in the People's Republic of China. The naming ceremony was held at the shipyard, with Ms. Nicole Gummerus serving as the vessel's godmother. In line with maritime tradition, she blessed the vessel and wished her crew safe and successful voyages.
The M/T P. Massport, previously referred to as Hull H1515, is a 114,000 DWT LNG-ready Tier III product/crude oil tanker, the first of three LNG-ready, scrubber-fitted LR2 Aframax tankers ordered by the Company and scheduled for delivery between the third quarter of 2025 and early 2026. As previously announced, all three vessels have secured five-year charter contracts with Clearlake Shipping Pte Ltd (the "Charterer"), a subsidiary of the Gunvor Group, one of the world's largest independent commodities trading houses.
Following delivery to the Company, the M/T P. Massport was delivered to the Charterer. The vessel has commenced operations under the five-year time charter contract at a gross rate of US$31,000 per day, with options for a sixth and seventh year at a base rate plus profit-sharing.
Posted In: PSHG
