Performance Shipping Inc., 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 time charter contract with American Eagle Tankers (“AET” or the “Charterer”), a member of MISC Group, for the 2011-built, 104,623 dwt Aframax tanker vessel, M/T Blue Moon. The gross charter rate will be US$28,000 per day for a period of twenty-one (21) months +/- 15 days at the option of the Charterer and is expected to commence at the beginning of January. This charter will generate approximately US$17.4 million of gross revenue for the minimum duration of the charter.

Commenting on this charter, Andreas Michalopoulos, the Company’s Chief Executive Officer, stated:
“We are extremely pleased to initiate a new collaboration with AET, a leading global tanker operator, which further underscores the confidence charterers place in us. With this charter, our secured revenue backlog stands at approximately US$59.4 million, based on the minimum duration of each charter for the operating vessels, and US$169.8 million for the three new buildings. By securing this charter, we strengthen our ability to safely navigate through the challenges of a volatile market while reinforcing our commitment to long-term value creation.”
Source: Performance Shipping Inc.