Performance Shipping secures two-year time charter contract

Performance Shipping (PSHG) entered into a time charter contract with SeaRiver Maritime for its M/T P. Long Beach, a 105,408 DWT LR2 Aframax tanker, built in 2013. Under the terms of the agreement, the vessel will be chartered for a period of 24 months, plus or minus 30 days at the Charterer’s option, at a daily gross charter rate of $30,500. The vessel will be delivered to SeaRiver upon redelivery from her previous charterer, expected to be around mid-December 2025. This new charter increases the Company’s fleetwide secured revenue backlog by approximately $21.35M for the minimum duration of the charter, further enhancing the Company’s total revenue.