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Sunday, May 31, 2020

Maritime Logistics Professional

Posted by March 30, 2020

Performance Shipping Delivers Aframax Tanker

 P. Kikuma (Photo: Performance Shipping)

P. Kikuma (Photo: Performance Shipping)

Performance Shipping Inc. (NASDAQ: PSHG) has taken delivery of the M/T P. Kikuma (formerly FSL Shanghai), a 2007-built Aframax tanker of 115,915 dwt that the company entered into an agreement to purchase in February 2020.

"M/T P. Kikuma marks an additional step in becoming a pure tanker owning company," said Andreas Michalopoulos, the company’s Deputy CEO. "While we remain cautious given the unprecedented global circumstances, we are currently benefiting from the development of a robust tanker market supported by increased oil production and the oil price contango resulting in floating storage for trading purposes and the replenishment of refineries and strategic reserves.”

oil production