Performance Shipping Adds Secondhand Aframax Tanker

Greek tanker owner Performance Shipping announced it has taken delivery of the a 2009-built 105,071 dwt Aframax tanker that it agreed to purchase in June 2022.

The vessel, formerly known as Maran Sagitta, has been renamed P. Sophia. It was built in 2009 by Hyundai Heavy Industries Co., Ltd. in Ulsan, South Korea. Performance Shipping acquired the vessel for a gross purchase price of $27,577,320.

Andreas Michalopoulos, Performance Shipping’s chief executive officer, said the delivery increases the company’s fleet to a total of six Aframax tankers, all currently operating in the firm spot charter market. 

“The addition of this high specification vessel, in excellent condition, having its special survey passed and ballast water treatment system installed, enhances the position of our company to take advantage of the prevailing high charter rate environment within the crude oil tanker sector,” Michalopoulos said. “Furthermore, we believe the acquisition price and prompt delivery will prove to be very advantageous to our company as we anticipate that the tanker market is in the early stages of a prolonged recovery in charter rates and asset values. We remain focused on capturing the upside of the crude oil tanker market and generating strong cashflows.”