Performance Shipping Inc. Announces Sale of 2011-Built Aframax Vessel M/T P. Yanbu for US$39 Million and Completion of Delivery to Her New Owners
Performance Shipping Inc. - Common Shares (PSHG)
Company Research
Source: GlobeNewswire
ATHENS, Greece, March 24, 2025 (GLOBE NEWSWIRE) -- Performance Shipping Inc. (NASDAQ: PSHG), (“we” or the “Company”), a global shipping company specializing in the ownership of tanker vessels, today announced that, through a separate wholly-owned subsidiary, it has signed a Memorandum of Agreement to sell the 2011-built, 105,400 dwt Aframax tanker vessel, M/T P. Yanbu, to an unaffiliated third party for a gross sale price of US$39 million. The vessel was successfully delivered to her new owner today. The vessel was debt free at the time of sale. The Company acquired the M/T P. Yanbu in the fourth quarter of 2020 for US$22 million. This sale is expected to generate a gain of approximately US$21.5 million in the first quarter of 2025, e
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