Performance Shipping Inc., a global shipping company specializing in the ownership of tanker vessels, announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with ST Shipping & Transport Pte Ltd., for the 2010-built, 105,304 dwt, LR2 Aframax oil product tanker, the M/T P. Aliki.
The gross charter rate will be based on a fixed floor rate of US$45,000 per day for a period of minimum four months to a maximum of five and a half months at the option of the charterer, plus a 50/50 profit share provision above the floor rate. The charter commenced on June 26, 2023 and is expected to generate approximately a minimum of US$5.5 million to a maximum of US$7.5 million in gross revenue depending on the duration of the charter, excluding any additional income that may be earned from the profit share provision.