Performance Shipping Inc. (PSHG) has released an update.
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Performance Shipping Inc. has secured lucrative five-year time charter contracts with Clearlake Shipping for three new tanker vessels, slated to generate $169.8 million in gross revenue, which is about 88% of their construction costs. These contracts, at a daily rate of $31,000 per vessel, underscore the company’s strategic focus on long-term fixed revenue and significantly enhance its cash flow prospects for the initial years. The vessels are expected to be delivered and commence employment between the fourth quarter of 2025 and the second quarter of 2026.
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