Greek tanker owner Performance Shipping has fixed two newly acquired 2019-built suezmaxes to Repsol Trading on three-year time charters, adding fresh employment stability and expanding its list of blue-chip customers.
The 157,000 dwt P Bel Air and P Beverly Hills, both built by Hyundai Samho Heavy Industries in South Korea, will deliver to Performance Shipping between December 2025 and January 2026. Each vessel will earn $36,500 per day for a firm period of three years, generating roughly $78m in gross revenue.
“This agreement marks our first business engagement with Repsol and reflects the market’s confidence in our operational standards,” said Andreas Michalopoulos, Performance Shipping’s chief executive. “The vessels’ modern, fuel-efficient design and scrubber-fitted features helped secure long-term employment at strong rates.”
The Nasdaq-listed company said the deal would cover more than half of the vessels’ combined acquisition cost and lift fleetwide contracted revenue to around $335m, with charter coverage at 70% for 2026 and 57% for 2027.
Performance bought the two eco-design suezmaxes from Navigare Capital Partners in October for $75.4m each, marking its entry into the midsize crude carrier segment.
