Greek tanker owner Performance Shipping has extended the charter of one of its aframaxes with Aramco Trading.
The Nasdaq-listed company said the 2011-built, 104,588 dwt Briolette has been fixed for 35 months, plus or minus 30 days at the charterer’s option.
The new deal, at $37,700 per day, started on July 2 in direct continuation of the vessel’s existing employment.
Performance said the contract should generate about $39m in gross revenue over the minimum charter period.
The fixture is the fourth consecutive contract Performance has secured with Aramco for the vessel.
The previous two-year Aramco charter, agreed in 2024, was struck at $41,000 per day and was also a direct continuation of earlier employment.
Andreas Michalopoulos, chief executive officer of Performance Shipping, said the latest charter pushes the company’s contracted revenue backlog above $500m as of mid-2026.
The company said its remaining average time charter duration has increased to 3.2 years, with charter cover of more than 80% through the end of 2028 and about 60% in 2029.
The latest extension follows a run of longer-term employment deals for Performance’s tanker fleet.
In January, that company fixed the aframax P Monterey to PBF Holding for three years. Last November, Performance also secured a two-year charter for the 2013-built P Long Beach with ExxonMobil’s shipping arm SeaRiver Maritime.
Performance has also been reshaping its fleet. Earlier this year, the Athens-based owner ordered two 158,000 dwt suezmax tankers at Shanghai Waigaoqiao Shipbuilding, priced at $81.5m each, with deliveries in late 2028 and mid-2029.
The company has sold older aframax tonnage this year, including the 2010-built P Aliki to Trafigura for $42.65m and the 2009-built P Sophia for $35.65m.
Performance’s fleet currently includes aframax/LR2 tankers and two suezmaxes on the water, with one LR1 newbuilding due in early 2027 and two suezmax newbuildings due in 2028 and 2029.
