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Performance Shipping Secures 3-Year Time Charter With PBF Energy For M/T P. Monterey Tanker At $31K/Day, Expecting To Generate ~$33M Of Gross Revenue

Benzinga·01/20/2026 14:28:54
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Performance Shipping Inc. (NASDAQ:PSHG) ("we" or the "Company"), a global shipping company specializing in the ownership of tanker vessels, announced today that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with PBF Holding Company LLC, a subsidiary of PBF Energy Inc. (NYSE:PBF) ("PBF" or the "Charterer") for its M/T P. Monterey (the "vessel"), 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.