Greece’s Performance Shipping has moved down a size in adding a fourth newbuilding to its tanker orderbook.
The Nasdaq-listed owner said a deal has been signed with China's Jiangsu Yangzijiang Shipbuilding Group to build a scrubber-fitted 75,000-dwt LR1 vessel for $54.1m, excluding extras and net of commission to third parties.
Delivery will be by January 2027.
The panamax-sized LR1s are ordered more rarely than larger aframax-sized LR2 ships, due to economies of scale.
A total of 41 LR1s are now on order, while 152 LR2s are on the books of shipyards.
Ten of the new LR1s have been contracted in 2024.
Italy’s d’Amico International Shipping has four of them, with US owner International Seaways and the Greek duo of Evalend Shipping and Cape Shipping on two each.
Clarksons lists the d’Amico International ships as costing between $55.4m and $56.2m each.
Performance chief executive Andreas Michalopoulos said its new vessel will feature the latest high-specification engine and emission requirements, along with a water ballast treatment system.
“Construction is undertaken by one of the most reputable and highly specialised shipyards in the world,” he added.
Four tankers on order
The owner now has four tankers on order. The others are LNG-ready LR2 vessels.
These are backed by five-year charters to trader Gunvor, adding $169.8m in revenue.
“Our fleet expansion and renewal strategy prioritises fuel efficiency and low emissions, reflecting our commitment to participating in the energy transition,” the CEO said.
“By taking constructive steps towards lower carbon emissions, we aim to provide our customers with environmentally sustainable operations,” he added.
Performance has seven LR2/aframax tankers on the water.
