Performance Shipping, a US-listed company that has already shown a capacity to reinvent itself, may be working on yet another transformation.
The former container ship player that switched to tankers three years ago has now placed a debut order for bulker newbuildings, according to several brokers in Greece, London and the US.
The Andreas Michalopoulos-led company is said to be contracting two 64,000-dwt vessels at Sumec Marine’s New Dayang Shipbuilding for $32.5m each, due for delivery in 2026.
Asked by TradeWinds to comment, Performance said that as a US-listed company, it does not discuss commercial issues outside public announcements.
“At this time, we are unable to comment on or confirm any specific discussions or agreements beyond what has been officially disclosed,” a company executive said.
Silence on the horizon
Performance, which has a history of quickly disclosing material information, has not made any announcements about bulker newbuildings so far.
Its latest public disclosure took place on 14 November, when the company revealed the profitable sale of the oldest of its eight aframax tankers, the 116,000-dwt P Kikuma (built 2007), for $39.3m.
Performance said it expects to book about $17m in gains on the deal when it reports financial earnings for the fourth quarter.
That sale came eight months after the company inked an LNG-ready aframax newbuilding at China’s Shanghai Waigaoqiao Shipbuilding for $63.3m.
The company, which used to be known as Diana Containerships before reinventing itself as tanker player Performance, is majority-owned by Aliki Paliou.
Greek peer George Economou has been trying to get a foothold in the company but attempts to woo minority shareholders to sell their stakes to him have not been going anywhere so far.