Performance Shipping delivered a quarterly profit that exceeded its revenue, a feat made possible by a profitable deal to sell its oldest aframax tanker.
The New York-listed shipowner reported a nearly $25m profit for the fourth quarter, an improvement from the $23.8m earned a year earlier when an asset sale also buoyed the bottom line.
The company, which owns aframax crude tankers and LR2 product carriers of the same size, reported $23.8m
