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Performance Shipping Extends Charter With Glencore's ST Shipping For Aframax Tanker M/T P. Monterey At $28K/Day, Generating ~$9.38M Over Minimum Duration

Benzinga·01/22/2025 14:28:41
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Performance Shipping Inc. (NASDAQ:PSHG), ("we" or the "Company"), a global shipping company specializing in the ownership of tanker vessels, today announced that, through a separate wholly-owned subsidiary, it has extended the time charter contract with ST Shipping & Transport Pte Ltd., a wholly-owned subsidiary of Glencore ("ST" or the "Charterer"), for the 2011-built, 105,525 dwt Aframax tanker vessel, M/T P. Monterey. The gross charter rate will be US$28,000 per day for a period of twelve months +/- 30 days at the option of the Charterer. This charter commenced in mid-January and will generate approximately US$9.38 million of gross revenue for the minimum duration of the charter.