Performance Shipping Completes LR2 Newbuilding Program with Third Vessel Delivery and Long-Term Charter
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The delivery of the M/T P. Marseille marks the successful completion of Performance Shipping's three-vessel LR2 newbuilding program, a significant strategic milestone for the company. This new, fuel-efficient vessel immediately commencing a five-year time charter with a reputable counterparty provides secured revenues and enhances the stability and visibility of the company's cash flows. For a company of this size, the addition of modern, high-specification tonnage with long-term employment is a material positive development, improving operational efficiency and strengthening its financial position.
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Third Vessel Delivered
Performance Shipping Inc. announced the naming and delivery of the M/T P. Marseille, a 114,000 DWT LNG-ready Tier III product/crude oil tanker.
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LR2 Newbuilding Program Completed
This delivery completes the company's three-vessel LR2 newbuilding program, following the M/T P. Massport and M/T P. Tokyo.
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Long-Term Charter Secured
The M/T P. Marseille immediately commenced operations under a five-year time charter contract with Clearlake Shipping Pte Ltd, a subsidiary of the Gunvor Group, with options for a sixth and seventh year.
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Strategic Fleet Expansion
The addition of this modern, fuel-efficient vessel enhances operational efficiency, improves the environmental footprint, and provides secured revenues, reinforcing cash flow stability.
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The delivery of the M/T P. Marseille marks the successful completion of Performance Shipping's three-vessel LR2 newbuilding program, a significant strategic milestone for the company. This new, fuel-efficient vessel immediately commencing a five-year time charter with a reputable counterparty provides secured revenues and enhances the stability and visibility of the company's cash flows. For a company of this size, the addition of modern, high-specification tonnage with long-term employment is a material positive development, improving operational efficiency and strengthening its financial position.
Au moment de ce dépôt, PSHG s'échangeait à 2,15 $ sur NASDAQ dans le secteur Energy & Transportation, pour une capitalisation boursière d'environ 26,7 M $. La fourchette de cours sur 52 semaines allait de 1,31 $ à 2,58 $. Ce dépôt a été évalué avec un sentiment de marché positif et un score d'importance de 8 sur 10.