Performance Shipping fixes another aframax to Glencore’s ST Shipping at bumper rate

Greek tanker owner Performance Shipping has secured long-term employment for its recently acquired aframax
Phoenix Beacon in a new and improved charter deal with Glencore’s Singapore-based ST Shipping and Transport.

The new contract is set to start at $32,000 per day following the vessel’s delivery in December and last 24 months with options to extend or reduce the charter for 45 days.

End-October the company also fixed the 2011-built aframax P Yanbu to Glencore’s shipping arm for two years at $30,000 per day.

The Nasdaq-listed company said it expects to earn at least $22m from the new deal.

Performance Shipping will have four aframaxes under time charter contracts with fixed revenues of at least $68m, while the remaining three ships are operating in the spot market through their participation in pools.