Performance Shipping (PSHG) announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Marathon Maritime Company, a wholly-owned subsidiary of Marathon Petroleum Corporation (MPC), for the M/T P. Long Beach. The gross charter rate will be US$37,200 per day for a period of twenty-four months +/- 40 days at the option of the Charterer and is expected to commence at the end of December. This charter will generate approximately US$25.7 million of gross revenue for the minimum duration of the charter. The M/T P. Long Beach is a 105,408 dwt Aframax tanker vessel built in 2013 by Hyundai Heavy Industries Co., Ltd.
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