newsfilter
← Latest News
GlobeNewswire·

Performance Shipping Inc. Announces Completion of Sale and Delivery of M/T P. Aliki to New Owners

  • Performance Shipping Inc. completed the sale of the 2010-built, 105,304 dwt Aframax tanker M/T P. Aliki through a wholly-owned subsidiary.
  • The vessel was delivered debt-free after the company prepaid approximately US$12.8 million to Alpha Bank in July 2026.
  • The gross sale price of the vessel was US$42.65 million, resulting in an estimated net proceeds of US$30 million including the debt prepayment.
  • Performance Shipping acquired the M/T P. Aliki in Q4 2022 for US$36.5 million \& operated it profitably for four years.
  • Net proceeds from the transaction are expected to support the company's fleet expansion program by almost fully covering remaining newbuilding commitments.
  • The company plans to deliver its first LR1 newbuilding in early 2027 \& two Suezmax newbuildings in late 2028 \& early 2029.
  • Andreas Michalopoulos, CEO, stated the sale reflects a disciplined fleet renewal strategy focused on monetizing older tonnage at high asset values.
  • Performance Shipping operates a global fleet of tanker vessels on spot voyages, pool arrangements, \& time charters.