Performance Shipping Inc. (NASDAQ: PSHG), (“we” or the “Company”), a global shipping company specializing in the ownership of tanker vessels, announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with SeaRiver Maritime LLC (the “Charterer”), a wholly-owned subsidiary of ExxonMobil Corporation (NYSE: XOM), for the 2010-built, 105,304 dwt LR2 Aframax tanker vessel, M/T P. Aliki.

The gross charter rate will be US$33,500 per day for a period of seven (7) months +/- 15 days at the option of the Charterer and is expected to commence at the beginning of December. This charter will generate approximately US$6.6 million of gross revenue for the minimum duration of the charter.

Commenting on this charter, Andreas Michalopoulos, the Company’s Chief Executive Officer, stated: “We are extremely pleased to have secured this time charter with SeaRiver Maritime LLC, a subsidiary of ExxonMobil, one of the world’s leading oil majors. This agreement is a testament to the high standards of operational excellence we consistently deliver and reflects the confidence that charterers place in our vessels and management practices. We look forward to further strengthening this collaboration and continuing to deliver exceptional value to our stakeholders.”

Performance Shipping Inc. press release