Performance Shipping, a company listed on Nasdaq, with Andreas Michalopoulos as its managing director and Aliki Paliou as chairman of the board of director’s, announces a US$45,000 per day time charter contract for a period of minimum seven months to a maximum of ten months.
The company said that has entered into a time charter contract with Trafigura Maritime Logistics for the LR2 Aframax oil product tanker, the Alpine Amalia, to be renamed P. Aliki, the acquisition of which was previously announced by the company.
The Greek owner said that the gross charter rate will be US$45,000 per day for a period of minimum seven months to a maximum of ten months at the option of Trafigura, and is set to commence upon delivery of the vessel to the company in November. The charter is expected to generate approximately a minimum of US$9.5 million to a maximum of US$13.7 million in gross revenue (a minimum of US$5.7 million to a maximum of US$8.2 million in cashflow after debt service, respectively), depending on the duration of the charter.
Commenting on the charter, Andreas Michalopoulos, the company’s Chief Executive Officer stated, that considering the recent market developments with charter rates at multiyear highs, the recent expansion of their fleet, and their desire to establish solid partnerships with first-class charterers, the company has decided to time charter the vessel P. Aliki at this very lucrative level almost two months prior to actually taking delivery of the vessel.
Source: Performance Shipping Inc.