Greek tanker owner Performance Shipping, led-by chairperson of its board Aliki Paliou, has missed an opportunity to sell its 2009-built ship P. Sophia, as the prospective buyers walked away from the deal, saying the aframax tanker was not selected for the offshore project.
The company has confirmed that the previously disclosed potential forward sale of its tanker “will not materialize.”
Performance Shipping said the buyer, an unnamed third party, informed it that the P. Sophia was not selected for the offshore project.
Earlier this year, the company entered into a forward sale and exclusivity agreement with an unaffiliated third party, granting the buyer the exclusive right to submit a bid for the conversion of the company’s aframax tanker, P. Sophia, in an auction for the provision of a floating production storage and offloading (FPSO) vessel for charter to a national oil company (the offshore project).
At that time Performance Shipping stated: “If the buyer is awarded the offshore project by the expiration of the auction on April 5, 2026, the buyer will purchase the company’s oldest vessel, the 2009-built M/T P. Sophia, for delivery within a maximum of 120 days for a gross sale price of US$36,050,000.
“Additionally, if the vessel is delivered to the buyer on or before September 30, 2025, the gross sale price will be increased by US$1,000,000. During the exclusivity period, the company may freely operate the vessel but is restricted from selling it to any other party until the conclusion of the offshore project auction in April 2026.”
With the potential forward sale and exclusivity agreement automatically lapsed, the company said no sale will be completed under its terms, and the vessel will continue to operate in the company’s fleet.
