Performance Shipping Inc. Announces Delivery of the Second of Two 2019-Built Suezmax Tankers, M/T P. Beverly Hills

Core Viewpoint - Performance Shipping Inc. has successfully completed the acquisition of two 2019-built Suezmax tankers, enhancing its fleet and operational efficiency while ensuring strong cash-flow visibility through a reputable charterer [2]. Group 1: Company Overview - Performance Shipping Inc. is a global provider of shipping transportation services, specializing in the ownership of tanker vessels [3]. - The company operates a fleet that includes spot voyages, pool arrangements, and time charters [3]. Group 2: Fleet Expansion - The delivery of the M/T P. Beverly Hills marks the completion of the company's Suezmax acquisition, bringing the total fleet to twelve tanker vessels, including two newbuild tankers under construction and ten currently operating [2]. - The acquisition of the two Suezmax vessels is a significant milestone in the company's fleet expansion strategy, aimed at improving operational efficiency and environmental sustainability [2]. Group 3: Financial Implications - The immediate employment of the new vessels with Repsol Trading S.A. provides strong cash-flow visibility from the outset, highlighting the high quality and commercial competitiveness of the company's fleet [2].