Performance Shipping Inc. (NASDAQ: PSHG), a global shipping company specializing in the ownership of vessels, today announced that, through a separate wholly-owned subsidiary, it has taken delivery of the M/T P. Kikuma (formerly FSL Shanghai), a 2007-built Aframax tanker of 115,915 dwt that the Company entered into an agreement to purchase in February 2020. 

Performance Shipping Inc. Announces Delivery of the Aframax Tanker Vessel P. Kikuma
Caption: Crude Oil Tanker P. Kikuma ( ex FSL Shanghai ) - Image courtesy of Marlene Marie

Commenting on the delivery, Mr. Andreas Michalopoulos, the Company’s Deputy Chief Executive Officer, stated

“The Company is pleased to have taken delivery of the M/T P. Kikuma, its fourth Aframax tanker vessel, which marks an additional step in becoming a pure tanker owning company. 

While we remain cautious given the unprecedented global circumstances, we are currently benefiting from the development of a robust tanker market supported by increased oil production and the oil price contango resulting in floating storage for trading purposes and the replenishment of Refineries and Strategic reserves. As previously announced, our ticker symbol has changed to ‘PSHG’ effective today.”

Source: Performance Shipping