Performance Shipping, a shipping company owned by the Palios family, has signed a loan agreement with Piraeus Bank to finance the acquisition of the sixth aframax tanker in its fleet.

As announced by the Nasdaq-listed company, this is a long-term loan of up to 31.9 million dollars, which will be obtained through two of its subsidiaries.

The funds will be used to refinance about 7.3 million dollars of the existing loan received from the same bank, secured by the M/T P. Yanbu, and to partially finance the recent acquisition of Maran Sagitta’s sixth Aframax tanker, which will be renamed M/T P. Sophia, with a payment of 24.6 million dollars.

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