Performance Shipping Inc., under the ownership of Aliki Paliou, has announced that it will bolster its fleet with the addition of two new Suezmax tankers. The company has signed contracts through its subsidiaries with prominent Chinese shipyards, namely China Shipbuilding Trading Co. Ltd. and Shanghai Waigaoqiao Shipbuilding Co. Ltd. Each tanker, with a deadweight tonnage of 158,000, is priced at 81.5 million dollars, showing the company's commitment to expanding its maritime capabilities.

The payment structure is outlined with an initial 15% payable upon the receipt of a money-back guarantee, followed by 10% payments at various construction milestones, culminating in a final 55% upon delivery. This structured payment plan indicates a careful approach to managing financial risks associated with new ship construction. CEO Andreas Michalopoulos emphasized the strategic significance of these contracts, noting that they reflect the company's intent to fortify its market position in a promising sector with favorable medium to long-term market conditions.

With the delivery dates set for October 2028 and May 2029, this move signals a long-term investment by Performance Shipping in the growing demand for oil transportation via Suezmax tankers. It highlights the company’s confidence in the market's trajectory and its commitment to enhancing operational capacity to meet future demand.