Greek tanker owner Performance Shipping is expanding its fleet with a fourth newbuild in China.

The Nasdaq-listed company has contracted Jiangsu Yangzijiang Shipbuilding Group for a single LR1 chemical/product carrier， adding to its orderbook of three 114，000 dwt LNG-ready LR2 tankers booked at CSSC-affiliated Shanghai Waigaoqiao Shipbuilding.

The 75，000 dwt ship， costing around $54.1m excluding extras and net of commission to third parties， should deliver by January 2027.

Performance owns and operates seven aframax tankers， with now four newbuilds set to enter service in the coming years. The LR2 units have already been fixed to Clearlake Shipping， a subsidiary of commodity trading giant Gunvor， for five years each， in a deal worth nearly $170m.

The company has a revenue backlog of $203.9m， representing 93% of its remaining newbuilding capital expenditures， said Andreas Michalopoulos， chief executive of Performance Shipping.

The latest newbuild will be equipped with electronic main engines with high-pressure selective catalytic reactor (HPSCR)， scrubber and ballast water treatment system.

“Our fleet expansion and renewal strategy prioritizes fuel efficiency and low emissions， reflecting our commitment to participating in the energy transition，” Michalopoulos added.