Performance Shipping has entered into a time charter contract with ST Shipping & Transport, for the 2010-built, 105,304 dwt, LR2 Aframax oil product tanker, the M/T P. Aliki. The gross charter rate will be based on a fixed floor rate of $45,000 per day for a period of minimum four months to a maximum of five and a half months at the option of the Charterer, plus a 50/50 profit share provision above the floor rate. The charter commenced on June 26, 2023 and is expected to generate approximately a minimum of $5.5M to a maximum of $7.5M in gross revenue depending on the duration of the charter, excluding any additional income that may be earned from the profit share provision.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on PSHG:
- Performance Shipping Inc. Announces Time Charter Contract With ST Shipping at Fixed Floor Rate of US$45,000 Per Day Plus 50/50 Profit Share for LR2 Tanker, M/T P. Aliki
- Performance Shipping Inc. Reports Record Net Income of $15.7 Million, 1.5 Million Shares Repurchased and Financial Results for the First Quarter Ended March 31, 2023
- Performance Shipping Inc. Announces Filing of 2022 Annual Report on Form 20-F