PSHG - Performance Shipping signs $32K/day time charter deal for Aframax tanker

• Performance Shipping ( NASDAQ: PSHG ) shares gained ~4% Tuesday morning after the shipping company signed a time charter contract with ST Shipping & Transport for the M/T Phoenix Beacon Aframax tanker.
• The acquisition of the 105,525 dwt vessel, to be renamed M/T P. Monterey, was previously announced. The gross charter rate will be $32K/day for a period of 24 months +/- 45 days at the option of the charterer. The charter will commence following the vessel's delivery to the company in December.
• This employment is expected to generate ~$22M of gross revenue for the minimum duration of the charter.

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