Performance Shipping fixes a US$45,000 per day time charter contract for 7 to 10 months

Credit: Performance Shipping

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.

Disclaimer for podcasts and articles

When you view, access or otherwise use our podcasts or articles, you acknowledge the application of this disclaimer:

Shipping Telegraph ApS provides no warranty, guarantee or representation as to the accuracy or sufficiency of the information featured in our podcasts or articles. The information, opinions, recommendations, content, etc. presented in our podcasts or articles are for information purposes only and do not constitute or replace professional advice. Any reliance you may place on the information provided in our podcast or articles is strictly at your own risk.

Unless it is specifically stated, Shipping Telegraph ApS does not approve, recommend or certify any product, process, service, organization, etc. presented or mentioned in our podcasts or articles. Any third-party materials, advertisements or content of any third-party referenced in our podcasts or articles do not necessarily reflect the opinions, standard or policies of Shipping Telegraph ApS, and Shipping Telegraph ApS cannot be held accountable hereof. Shipping Telegraph ApS is not responsible or liable for the accuracy, completeness or compliance with applicable laws of any third-party material, advertisements and content.

Shipping Telegraph ApS shall not be responsible for any errors or omissions contained in the podcasts, the articles or the website used to gain access hereto and reserves the right to make changes without notice. Shipping Telegraph ApS makes no warranty that our podcasts or articles, or the server making them available, are free of viruses, worms, etc.

Shipping Telegraph ApS expressly disclaims any and all liability or responsibility for any direct, indirect, punitive, incidental, consequential or other damages or other claims arising out of or in connection with any individual's and business entity's use of, reference to, reliance on our podcasts or articles or the information presented herein. By ticking the box, I agree with the disclaimer above.