- Performance Shipping Inc. Sale deal of a Post-Panamax Container Vessel signed.
- The company signed a MoA to sell to an unaffiliated third party the 2008-built Post-Panamax container vessel “Rotterdam”.
- Sale price is US$18.5 million before commissions.
- After sale, Performance Shipping Inc.’s fleet will consist of one (1) Panamax container vessel and two (2) Aframax tanker vessels.
Performance Shipping Inc. Announced the Sale of a Post-Panamax Container Vessel, the M/V Rotterdam, reports Yahoo Finance.
Details of the MoA signed
Performance Shipping Inc. (DCIX), (the “Company”), a global shipping company specializing in the ownership of vessels, announced that it has signed, through a separate wholly-owned subsidiary, a Memorandum of Agreement to sell to an unaffiliated third party the 2008-built Post-Panamax container vessel “Rotterdam”. The delivery date to the buyer is latest by May 15, 2020, for a sale price of US$18.5 million before commissions.
Performance Shipping Inc.’s fleet
Upon completion of the aforementioned sale, Performance Shipping Inc.’s fleet will consist of one (1) Panamax container vessel and two (2) Aframax tanker vessels.
The Company also expects to take delivery of one (1) Aframax tanker vessel by the end of January 2020.
Comment from the company
Commenting on the transaction, Mr. Andreas Michalopoulos, the Company’s Deputy Chief Executive Officer, Chief Financial Officer and Treasurer stated:
“The sale of one of the two remaining containerships in our fleet will increase our cash position to around US$46 million. This cash amount, together with the low leveraged assets, provides a total valuation well in excess of our current stock market capitalization. We are confident that this discrepancy will soon be either greatly reduced or disappear entirely as we steadily increase our presence in the Aframax tanker market.”
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Source: Yahoo Finance
