Greek tanker owner Performance Shipping has secured a term loan facility to partially finance its seventh vessel purchase.<\/p>\n
The Nasdaq-listed company has tapped Greece\u2019s Alpha Bank for up to around $18.25m of which up to 50% will be used to pay for the 2010-built LR2 aframax oil product tanker Alpine Amalia<\/a><\/span>.<\/p>\n The ship, to be renamed P Aliki<\/em>, was bought for $36.5m from Glencore\u2019s ST Shipping in August. It is set to deliver in November and go on a charter with Trafigura<\/a><\/span> for between seven and ten months at $45,000 per day.<\/p>\n The loan is for five years, repayable in twenty consecutive quarterly installments of $500,000 each, and a balloon installment of $8,250,000 payable concurrent with the twentieth quarterly installment.\u00a0<\/p>\n Performance Shipping has picked up three tankers since June and recently sold its 2007-built aframax P Fos<\/em><\/a><\/span> for $34m with plans to use the net proceeds of around $25m to acquire a younger ship. The company has seven ships on a fully delivered basis.<\/p>\n