Performance Shipping Inc. Secures Sale and Leaseback Agreement for Second Newbuild LR2 Aframax Tanker
Performance Shipping Inc. - Common Shares (PSHG)
Company Research
Source: GlobeNewswire
ATHENS, Greece, Oct. 24, 2024 (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 entered into a sale and leaseback agreement with an unaffiliated third party for a previously announced newbuild LR2 Aframax tanker vessel (the “Vessel”). As announced on December 20, 2023, this vessel is one of two newbuilding LNG-ready, scrubber-fitted LR2 product/crude oil tanker vessels of approximately 114,000 dwt expected to be delivered to the Company in the first quarter of 2026. The bareboat financing amount totals approximately US$45.39 million. As part of this agreement, the Vessel will be sold and then chartered back to the Company on a bareboat basis for a ten-year period starting from delivery from the shipyard. The bareboat charter includes 120 monthly installments at a fixed rate of US$211,500.00 plus a v
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