{"id":268341,"date":"2025-06-17T17:48:08","date_gmt":"2025-06-17T21:48:08","guid":{"rendered":"https:\/\/inspenet.com\/noticias\/performance-shipping-secures-lr1-tanker-contract-with-mercuria\/"},"modified":"2025-06-18T09:01:47","modified_gmt":"2025-06-18T13:01:47","slug":"performance-shipping-secures-lr1-tanker-contract-with-mercuria","status":"publish","type":"noticias","link":"https:\/\/inspenet.com\/en\/news\/performance-shipping-secures-lr1-tanker-contract-with-mercuria\/","title":{"rendered":"Performance Shipping secures LR1 tanker contract with Mercuria"},"content":{"rendered":"\n

Performance Shipping<\/strong> and Mercuria Energy Trading<\/strong> announced the signing of an extended time charter for their fourth newbuilding tanker, an LR1 tanker to be delivered in mid-2027.<\/p>\n\n

The details of the LR1 oil agreement<\/h2>\n\n

This contract establishes a gross daily rate of US$23,750, with a fixed term of four years and the possibility of extension for an additional three years. If these options are exercised, a staggered increase in the daily rate is contemplated: US$850 for each of the first two optional years and US$1,200 for the third, subject to mutual agreement. <\/p>\n\n

Moreover, the contract is estimated to generate stable revenues above the operating break-even point, strengthening the new vessel’s free cash flow. With this addition, Performance Shipping<\/em> ‘s secured revenue portfolio reaches approximately US$255 million. <\/p>\n\n

\n

We are very pleased to enter into a new partnership with Mercuria, a leading global independent energy and commodities group, which reinforces the trust charterers place in us and our commitment to building long-lasting relationships.<\/p>\n\n\n\n

With this contract, our fleet-wide guaranteed revenue portfolio increases by approximately US$35 million, bringing the total to approximately US$255 million, based on the minimum duration of each charter and as of the close of the most recent financial reporting period.<\/p>\n\n\n\n

By signing this contract, we further extended our fixed-charter coverage, thereby reducing the cash flow break-even point required on our open-door days.<\/p>\nAndreas Michalopoulos, Chief Executive Officer of the Company.<\/cite><\/blockquote>\n\n

The Mercuria transaction is part of a larger strategy to secure predictable revenues through long-term contracts. Such a vision allows Performance Shipping to move forward with confidence in the expansion of its modern fleet. modern fleet<\/a><\/strong> and its participation in international seaborne trade. <\/p>\n\n

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Source and photo: Performance Shipping<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

According to estimates, this contract seeks to generate stable revenues above the operating break-even point, strengthening the new vessel’s free cash flow.<\/p>\n","protected":false},"author":8404,"featured_media":268295,"menu_order":0,"comment_status":"open","ping_status":"open","template":"","meta":{"_acf_changed":false,"_bbp_topic_count":0,"_bbp_reply_count":0,"_bbp_total_topic_count":0,"_bbp_total_reply_count":0,"_bbp_voice_count":0,"_bbp_anonymous_reply_count":0,"_bbp_topic_count_hidden":0,"_bbp_reply_count_hidden":0,"_bbp_forum_subforum_count":0,"footnotes":""},"categoria_noticias":[13026,13048],"etiqueta_noticias":[],"class_list":["post-268341","noticias","type-noticias","status-publish","has-post-thumbnail","hentry","categoria_noticias-energy","categoria_noticias-maritime"],"acf":[],"_links":{"self":[{"href":"https:\/\/inspenet.com\/en\/wp-json\/wp\/v2\/noticias\/268341","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/inspenet.com\/en\/wp-json\/wp\/v2\/noticias"}],"about":[{"href":"https:\/\/inspenet.com\/en\/wp-json\/wp\/v2\/types\/noticias"}],"author":[{"embeddable":true,"href":"https:\/\/inspenet.com\/en\/wp-json\/wp\/v2\/users\/8404"}],"replies":[{"embeddable":true,"href":"https:\/\/inspenet.com\/en\/wp-json\/wp\/v2\/comments?post=268341"}],"version-history":[{"count":0,"href":"https:\/\/inspenet.com\/en\/wp-json\/wp\/v2\/noticias\/268341\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/inspenet.com\/en\/wp-json\/wp\/v2\/media\/268295"}],"wp:attachment":[{"href":"https:\/\/inspenet.com\/en\/wp-json\/wp\/v2\/media?parent=268341"}],"wp:term":[{"taxonomy":"categoria_noticias","embeddable":true,"href":"https:\/\/inspenet.com\/en\/wp-json\/wp\/v2\/categoria_noticias?post=268341"},{"taxonomy":"etiqueta_noticias","embeddable":true,"href":"https:\/\/inspenet.com\/en\/wp-json\/wp\/v2\/etiqueta_noticias?post=268341"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}