Performance Shipping Inc. Secures Sale and Leaseback Agreement for Previously Announced Newbuild LR2 Aframax Tanker [Yahoo! Finance]
Performance Shipping Inc. - Common Shares (PSHG)
Company Research
Source: Yahoo! Finance
specializing in the ownership of tanker vessels, today announced that, through a separate wholly-owned subsidiary, it has entered into a sale and leaseback agreement with an unaffiliated Japanese third party for a previously announced newbuild LR2 Aframax tanker vessel (the “Vessel”). As announced on March 8, 2023, the newbuilding LNG-ready, scrubber-fitted, Tier III LR2 Vessel of approximately 114,000 dwt is expected to be delivered to the Company in the fourth quarter of 2025. The bareboat financing amount totals US$44.25 million and as part of this agreement, the Vessel will be sold and chartered back on a bareboat basis for an eight-year period from delivery at bareboat charter rates equivalent to 96 monthly installments of US$7,132 per day and a balloon payment of approximately US$23.7 million payable together with the last installment, with an implied interest rate of Term SOFR plus 2.425% per annum. The Company has continuous options to repurchase the Vessel at predetermined
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News
- Performance Shipping Inc. Reports Financial Results for the Second Quarter and Six-Months Ended June 30, 2024GlobeNewswire
- Performance Shipping Inc. Announces Initiation of Analyst Coverage by Alliance Global Partners (AGP)GlobeNewswire
- Performance Shipping Inc. (NASDAQ: PSHG) is now covered by analysts at Alliance Global Partners. They set a "buy" rating and a $6.50 price target on the stock.MarketBeat
- Performance Shipping Inc. Secures Sale and Leaseback Agreement for Previously Announced Newbuild LR2 Aframax TankerGlobeNewswire
PSHG
Sec Filings
- 7/16/24 - Form 6-K
- 6/27/24 - Form SC
- PSHG's page on the SEC website