Performance Shipping has secured a long-term charter for one of its Aframax tankers, locking in a fixed daily rate of $37,700.
The agreement covers a period of 35 months, with an option for the charterer to extend or shorten the term by 30 days.
The vessel, built in 2011 with a deadweight capacity of 104,588 dwt, will begin operations under the new contract shortly.
The deal reflects the current strength in the tanker market, where geopolitical risks continue to support freight rates.
With ongoing attacks in the Strait of Hormuz pushing oil prices higher and disrupting shipping routes, owners are increasingly seeking to secure long-term contracts to mitigate volatility.
The $37,700 daily rate is consistent with recent spot rates for Aframax vessels operating in high-risk corridors.