Performance Shipping Inc., a global shipping company specializing in the ownership of tanker vessels, has signed, through a separate wholly-owned subsidiary, a Memorandum of Agreement to purchase the M/T Phoenix Beacon, a 105,525 dwt Aframax tanker vessel built in 2011 by Hyundai Heavy Industries Co., Ltd. - Ulsan, South Korea, from an unaffiliated third party for a gross purchase price of US$35 million, according to the company's release.
The M/T Phoenix Beacon is fitted with a ballast water treatment system (BWTS), and its next scheduled special survey is not due until 2026. The vessel is expected to be delivered to the Company by early December 2022 and will be renamed M/T P. Monterey.