DivestmentJul 15, 2026, 09:28 AM
Performance Shipping Completes $35.65M Vessel Sale
AI Summary
Performance Shipping Inc. announced the completion of the sale of its 2009-built Aframax tanker vessel, M/T P. Sophia, for $35.65 million. The vessel was acquired in 2022 for approximately $27.6 million, representing a 30% increase over its acquisition price. This strategic divestment strengthens the company's liquidity and reduces its pro forma average fleet age to approximately six years, aligning with its fleet renewal strategy.
Key Highlights
- Completed sale of M/T P. Sophia for $35.65 million.
- Vessel acquired in Q3 2022 for approximately $27.6 million.
- Sale price represents approximately 30% increase over acquisition.
- Strengthens the company's liquidity position.
- Reduces pro forma average fleet age to approximately six years.
Price Impact
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