Performance Shipping (PSHG) has signed a Memorandum of Agreement to sell the 2011-built, 105,400 dwt Aframax tanker vessel, M/T P. Yanbu, to an unaffiliated third party for a gross sale price of $39M. The vessel was delivered to her new owner. The vessel was debt free at the time of sale. The Company acquired the M/T P. Yanbu in the fourth quarter of 2020 for $22M. This sale is expected to generate a gain of approximately $21.5M in the first quarter of 2025, excluding any commissions and transaction related costs.
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