Performance Shipping has sold one of its oldest tankers at a tidy profit.
The New York-listed aframax specialist announced on Monday that it had sold the 115,600-dwt P Fos (built 2007) for $34m after buying it for $26m in 2019. The deal brought in $25m in net cash.
“Aframax tanker values have appreciated significantly during this year, and although the tanker market continues to enjoy strong fundamentals and prospects, we believe that the sale price we concluded for M/T P Fos renders the disposal tactically advantageous and financially attractive,” chief executive Andreas Michalopoulos said in the announcement.
