Performance Shipping signs shipbuilding contract for the purchase of a newbuild LNG ready Tier III LR2 product/crude oil tanker with scrubber
Performance Shipping Inc., a global shipping company specializing in the ownership of tanker vessels, has signed, through a separate wholly-owned subsidiary, a shipbuilding contract with China Shipbuilding Trading Company Limited and Shanghai Waigaoqiao Shipbuilding Company Limited for the construction of a 114,000 DWT LNG ready LR2 Aframax product/crude oil tanker for a contract price of US$62.6 million, net of commission to third party, according to the company's release.
15% of the purchase price is payable upon receipt of a refund guarantee, expected to occur within 30 days; 10% of the purchase price is payable at each of the milestones of steel cutting, keel laying and launching of the vessel, and the remaining 55% of the purchase price is payable upon the vessel’s delivery. The company expects to take delivery of the vessel during the fourth quarter of 2025.
The vessel will be equipped with an electronic Main Engine with High-Pressure Selective Catalytic Reactor (HPSCR) for Tier III (NOx Emissions) compliance, Exhaust Gas Cleaning System (EGCS) for Tier II (NOx Emissions) compliance, and Ballast Water Treatment System (BWTS).
