Performance Shipping completes sale of 2009-built Aframax tanker

"The completion of this vessel sale, capitalising on strong asset values, represents another important step in our fleet renewal strategy," stated Chief Executive Officer Andreas Michalopoulos.

According to Michalopoulos, the sale represents an increase of approximately 30 per cent above the acquisition price paid four years ago which strengthens the company's liquidity position.

Together with recent corporate developments, the sale reduces the pro forma average fleet age to approximately six years.