The owner of the Greek tanker Performance Shipping has fixed two newly acquired 2019-built Suezmax tankers with Repsol Trading on three-year charters, adding new employment stability and expanding its list of first-class clients.
The 157,000 dwt Bel Air and Beverly Hills, both built by Hyundai Samho Heavy Industries in South Korea, will be delivered to Performance Shipping between December 2025 and January 2026. Each vessel will earn $36,500 per day during a firm three-year period, generating approximately $78 million in gross revenue.
“This deal marks our first commercial engagement with Repsol and reflects the market’s confidence in our operating standards,” said Andreas Michalopoulos, chief executive of Performance Shipping. “The vessels’ modern, fuel-efficient design and scrubber-fitted features helped secure long-term employment at strong rates.”
The Nasdaq-listed company said the deal would cover more than half of the vessels’ combined acquisition cost and would increase the entire fleet’s contracted revenue to about $335 million, with charter coverage of 70% for 2026 and 57% for 2027.
Performance bought the two eco-design Suezmax tankers from Navigare Capital Partners in October for $75.4 million each, marking its entry into the medium-sized crude carrier segment.
Greece
