Performance Shipping (PSHG) announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with PBF Holding Company, a subsidiary of PBF Energy (PBF) for its M/T P. Monterey, a 105,525 dwt Aframax tanker built in 2011. The gross charter rate will be US$31,000 per day for a period of three years +/- 30 days at the option of the Charterer. This charter is expected to commence in mid-February and will generate approximately US$33 million of gross revenue for the minimum duration of the charter.
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