Performance Shipping Inc., a global shipping company specializing in the ownership of tanker vessels, announced that, through a separate wholly-owned subsidiary, it has taken delivery of the M/T P. Monterey (formerly “Phoenix Beacon”), a 2011-built Aframax tanker vessel of 105,525 dwt that the company entered into an agreement to purchase in September 2022, according to the company's release.
As previously announced, the M/T P. Monterey was acquired for a total purchase price of US$35 million and partially financed through the recently announced term loan facility with Piraeus Bank S.A. Following the delivery, as previously disclosed, the vessel will commence a time charter contract with ST Shipping & Transport Pte Ltd., a wholly-owned subsidiary of Glencore, at a daily rate of US$32,000 per day for a period of twenty-four months +/- 45 days at the option of the charterer.
The M/T P. Monterey is equipped with a ballast water treatment system (BWTS), and its next scheduled special survey is not due until 2026. The vessel is the third vessel delivered to the company during the course of this year.
The company’s fleet currently consists of seven Aframax tanker vessels and one Aframax tanker vessel expected to be delivered within December.