Symeon Palios led Performance Shipping has entered into a time charter contract with Aramco Trading Company for 2011-built aframax Blue Moon.
The charter is for a period of 17 to 19 months at a rate of $28,000 per day.
Andreas Michalopoulos, deputy chief executive officer of Performance Shipping, commented: “Our commercial management strategy for our tanker vessels is focused on voyage charters that provide our shareholders with exposure to cyclical fluctuations in charter rates. However, considering this attractive time charter rate and our valued relationship with such a high caliber charterer, we took this opportunity to maximize shareholder value and adapt positively to market developments.”
Performance Shipping, formerly Diana Containerships, entered the tanker sector in August last year and has built up a fleet of four aframaxes alongside a single panamax container vessel. The Sumitomo-built Blue Moon was acquired from Maersk Tankers in an en bloc deal last year, and at the time was named Maersk Jeddah.