Performance Shipping Inc. announced on September 2, 2025, the successful naming and delivery of the M/T P. Tokyo, the second vessel from its current newbuilding program. The 114,000 DWT LNG-ready Tier III product/crude oil tanker was constructed at Shanghai Waigaoqiao Shipbuilding Co. Ltd. (SWS) in China.
This delivery follows the M/T P. Massport and marks another important step in the company’s fleet expansion and renewal strategy. Two further newbuildings, an additional sister LR2 Aframax and an LR1 chemical/product tanker, are scheduled for delivery in early 2026 and early 2027, respectively.
All three newbuilding LR2 vessels, including the M/T P. Tokyo, have secured five-year charter contracts with Clearlake Shipping Pte Ltd, a subsidiary of the Gunvor Group. Following its delivery to Performance Shipping Inc., the M/T P. Tokyo was delivered to the charterer.
The vessel has commenced operations under its five-year time charter contract at a gross rate of US$31,000 per day, with options for a sixth and seventh year at a base rate plus profit-sharing. This immediate employment ensures stable revenue generation from the new asset.
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