Performance Shipping Inc. Announces Time Charter Contract With ST Shipping at Fixed Floor Rate of US$45,000 Per Day Plus 50/50 Profit Share for LR2 Tanker, M/T P. Aliki
27 Juin 2023 - 3:28PM
Performance Shipping Inc. (NASDAQ: PSHG) (“we” or the “Company”), a
global shipping company specializing in the ownership of tanker
vessels, announced that, through a separate wholly-owned
subsidiary, it has entered into a time charter contract with ST
Shipping & Transport Pte Ltd., (the “Charterer”) for the
2010-built, 105,304 dwt, LR2 Aframax oil product tanker, the M/T P.
Aliki. The gross charter rate will be based on a fixed floor rate
of US$45,000 per day for a period of minimum four (4) months to a
maximum of five and a half (5.5) months at the option of the
Charterer, plus a 50/50 profit share provision above the floor
rate. The charter commenced on June 26, 2023 and is expected to
generate approximately a minimum of US$5.5 million to a maximum of
US$7.5 million in gross revenue depending on the duration of the
charter, excluding any additional income that may be earned from
the profit share provision.
Commenting on the charter, Andreas
Michalopoulos, the Company’s Chief Executive Officer, stated:
“Following the recent announcement of our record
financial results and net income of $15.7 million during the 2023
first quarter, we are pleased to announce the new time charter
contract for our LR2 Aframax tanker, M/T P. Aliki. This contract
commenced immediately after the expiration of the previous charter
agreement with Trafigura Maritime Logistics Pte Ltd at a gross
daily charter rate of $45,000.
“With a fixed floor daily rate of $45,000, this
new contract boosts our fleet-wide revenue backlog to approximately
$54 million, based on the minimum duration of each charter. In
addition, it provides the opportunity to further enhance our
current profitability by capitalizing on the robust Aframax spot
charter rates, thanks to our partnership with the Charterer and the
50% share of the vessel’s earnings above the floor. With a term of
4 to 5.5 months, the M/T P. Aliki will be strategically positioned
for new employment during the seasonally strong fall period. This
contract reflects our solid relationships with reputable and
creditworthy counterparties, such as ST Shipping & Transport
Pte Ltd., which currently employs three of our tankers.”
About the Company
Performance Shipping Inc. is a global provider
of shipping transportation services through its ownership of tanker
vessels. The Company employs its fleet on spot voyages, through
pool arrangements and on time charters.
Cautionary Statement Regarding
Forward-Looking Statements
Matters discussed in this press release may
constitute forward-looking statements. The Private Securities
Litigation Reform Act of 1995 provides safe harbor protections for
forward-looking statements in order to encourage companies to
provide prospective information about their business.
Forward-looking statements include, but are not limited to,
statements concerning plans, objectives, goals, strategies, future
events or performance, and underlying assumptions and other
statements, which are other than statements of historical facts.
The words “believe,” “anticipate,” “intends,” “estimate,”
“forecast,” “project,” “plan,” “potential,” “will,” “may,”
“should,” “expect,” “targets,” “likely,” “would,” “could,” “seeks,”
“continue,” “possible,” “might,” “pending” and similar expressions,
terms or phrases may identify forward-looking statements.
The forward-looking statements in this press
release are based upon various assumptions, many of which are
based, in turn, upon further assumptions, including, without
limitation, our management’s examination of historical operating
trends, data contained in our records and other data available from
third parties. Although we believe that these assumptions were
reasonable when made, because these assumptions are inherently
subject to significant uncertainties and contingencies which are
difficult or impossible to predict and are beyond our control, we
cannot assure you that we will achieve or accomplish these
expectations, beliefs, or projections.
In addition to these important factors, other
important factors that, in our view, could cause actual results to
differ materially from those discussed in the forward-looking
statements include, but are not limited to: the strength of world
economies, fluctuations in currencies and interest rates, general
market conditions, including fluctuations in charter rates and
vessel values, changes in demand in the tanker shipping industry,
changes in the supply of vessels, changes in worldwide oil
production and consumption and storage, changes in our operating
expenses, including bunker prices, crew costs, drydocking and
insurance costs, our future operating or financial results,
availability of financing and refinancing including with respect to
vessels we agree to acquire, changes in governmental rules and
regulations or actions taken by regulatory authorities, potential
liability from pending or future litigation, general domestic and
international political conditions, the length and severity of
epidemics and pandemics, including the ongoing outbreak of the
novel coronavirus (COVID-19) and its impact on the demand for
seaborne transportation of petroleum and other types of products,
changes in governmental rules and regulations or actions taken by
regulatory authorities, potential liability from pending or future
litigation, general domestic and international political conditions
or events, including “trade wars”, armed conflicts including the
war in Ukraine, the imposition of new international sanctions, acts
by terrorists or acts of piracy on ocean-going vessels, potential
disruption of shipping routes due to accidents, labor disputes or
political events, vessel breakdowns and instances of off-hires and
other important factors. Please see our filings with the U.S.
Securities and Exchange Commission for a more complete discussion
of these and other risks and uncertainties.
Corporate Contact:
Andreas Michalopoulos
Chief Executive Officer, Director and Secretary
Telephone: +30-216-600-2400
Email: amichalopoulos@pshipping.com
Website: www.pshipping.com
Investor and Media Relations:
Edward Nebb
Comm-Counsellors, LLC
Telephone: + 1-203-972-8350
Email: enebb@optonline.net
Performance Shipping (NASDAQ:PSHG)
Graphique Historique de l'Action
De Avr 2024 à Mai 2024
Performance Shipping (NASDAQ:PSHG)
Graphique Historique de l'Action
De Mai 2023 à Mai 2024