Performance Shipping has landed in the black, thanks to higher rates for aframax tankers.
The Andreas Michalopoulos-led owner of four aframaxes with a fifth on the way reported a $400,000 profit for the third quarter versus an $18.1m loss during the same period last year.
Earnings per share came in at $0.08 for the three-month period, much better than a $5.58
