Greek tanker owner Performance Shipping, led-by chairperson of its board Aliki Paliou, has entered through its wholly-owned subsidiary into a time charter deal with PBF Holding Company LLC, a subsidiary of PBF Energy Inc., for its 105,525-dwt aframax tanker P. Monterey built in 2011.
The vessel will be chartered to PBF Holding Company LLC for a gross charter rate of $31,000 per day for a period of three years +/- 30 days at the option of the charterer.
The charter is expected to begin in mid-February and will generate around $33m of gross revenue for the minimum duration of the charter.
Commenting on this charter, Andreas Michalopoulos, chief executive officer of Performance Shipping, stated: “We are pleased to announce this new time charter arrangement, which further strengthens cash flow visibility and increases the company’s fleetwide aggregate backlog to a record level of approximately US$349 million as of January 1, 2026.
“Securing three-year employment at a lucrative charter rate with a solid counterparty underscores the reliability of our services and our ability to build new relationships with energy companies.
“Overall, we remain focused on our well-defined employment strategy, emphasizing medium and long-term time charter contracts with staggered maturities that generate steady revenues and provide renewal opportunities. We believe that this conservative and disciplined approach will continue to support our ability to pursue attractive growth opportunities going forward.”
