Announced earlier today (03/18), Performance Shipping (PSHG) has arranged financing for its LR1 newbuild via Sale-&-Leaseback financing. The vessel does not deliver until 2027. But, the vessel has already secured a 4-year (Medium term) charter at a reasonable rate. Pursuing stable charter rates for its newbuild vessels make sense. Especially given PSHG placed an order for two Suezmax newbuilds quite recently.
1 Like