Performance Shipping Secures $471M in Charters for New Tankers

Performance Shipping Inc. secured long-term time charter agreements with Repsol Trading S.A. for its two new Suezmax tanker vessels. The first vessel is chartered for seven years at $35,000 per day, and the second for five years at $36,850 per day, commencing upon their deliveries in October 2028 and May 2029. These agreements are expected to boost the company's total fleetwide contracted revenue to approximately $471 million from $317 million, significantly enhancing earnings visibility and covering a majority of the vessels' acquisition costs.