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Palios Family to Fund The Acquisition of its Sixth Aframax With a Loan Agreement.

Athens, Thursday, 7 July 2022

The sixth aframax tanker in Performance Shipping's fleet will be purchased thanks to a credit deal that was struck with Piraeus Bank. Performance Shipping is a shipping firm owned by the Palios family.

According to the Nasdaq-listed business, two of its companies will be used to get this long-term loan, which has a maximum amount of $31.9 million.

With a payment of $24.6 million, the money will be used to partially finance the recent purchase of Maran Sagitta's sixth Aframax tanker, which will be called M/T P. Sophia, and to refinance around 7.3 million dollars of the previous loan acquired from the same bank and secured by the M/T P. Yanbu.

(Report by: The Decision Maker – Finance editors)



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