Performance Shipping, a Greek tanker owner listed on Nasdaq, has announced the extension of a charter agreement for its aframax vessel, the *Blue Moon*. The charter party is with AET, the tanker division of MISC Group, and will run for an additional two years.
The 2011-built vessel, with a deadweight of 104,623 tons, will command a daily rate of $43,000 for the first year of the extension, followed by $38,000 per day in the second year. This averages out to $40,500 per day over the entire two-year period.
For freight forwarders and supply chain managers, this charter extension signifies continued stability in earnings for Performance Shipping. Such long-term agreements for specific vessel types like aframax tankers can impact the availability of these vessels in the spot market, potentially influencing freight rates for crude oil and refined petroleum products on relevant trade lanes. While this particular agreement secures capacity for AET, a broader trend of long-term charters could tighten the market for ad-hoc shipments, leading to higher costs or reduced flexibility for shippers.
