Nasdaq-listed Greek tanker owner Performance Shipping has signed contracts in China for two suezmaxes， expanding its presence in the crude segment.

The Andreas Michalopoulos-led company has selected Shanghai Waigaoqiao Shipbuilding for the construction of the 158，000 dwt vessels， costing $81.5m per unit and delivery scheduled in October 2028 and May 2029. Of the four tankers Performance Shipping has previously ordered at the same yard， three have already been delivered.

The company entered the suezmax space in October 2025 with the purchase of the 2019-built P Bel Air and P Beverly Hills， both constructed at HD Hyundai Samho Heavy Industries， for $75.4m each. The ships have since been renamed P Bel Air and P Beverly Hills.

The newbuilds will be Tier III， scrubber-fitted and compliant with the latest fuel-efficiency and environmental standards， enhancing their commercial competitiveness and long-term earnings capacity， the company noted.

Commenting on the latest move， chief executive Michalopoulos said: “The signing of these two suezmax newbuilding contracts expands our presence in a segment with constructive medium- and long-term market fundamentals. Our fleet is primarily comprised of aframax/LR2 vessels， and with two suezmax tankers currently on the water， this transaction is poised to double our exposure to the segment， reflecting our disciplined capital allocation approach and confidence in the suezmax market.”

As of mid-January 2026， the company’s fleet comprised 12 tankers — nine aframax vessels and two suezmaxes on the water — plus one LR1 newbuild due for delivery in early 2027. In February， Performance sold its oldest ship， the 2009-built aframax P Sophia， for $35.65m after an earlier disposal attempt linked to an offshore conversion project fell through.