Performance Shipping Signs $31,000/Day Charter with PBF Energy
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 20 2026
0mins
Performance Shipping (PSHG) announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with PBF Holding Company, a subsidiary of PBF Energy (PBF) for its M/T P. Monterey, a 105,525 dwt Aframax tanker built in 2011. The gross charter rate will be US$31,000 per day for a period of three years +/- 30 days at the option of the Charterer. This charter is expected to commence in mid-February and will generate approximately US$33 million of gross revenue for the minimum duration of the charter.
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Analyst Views on PBF
Wall Street analysts forecast PBF stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for PBF is 32.22 USD with a low forecast of 23.00 USD and a high forecast of 42.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
9 Analyst Rating
2 Buy
5 Hold
2 Sell
Hold
Current: 32.900
Low
23.00
Averages
32.22
High
42.00
Current: 32.900
Low
23.00
Averages
32.22
High
42.00
About PBF
PBF Energy Inc. is an independent refiner in North America, operating, through its subsidiaries, oil refineries and related facilities in California, Delaware, Louisiana, New Jersey and Ohio. The Company operates as a refiner and supplier of unbranded transportation fuels, heating oil, petrochemical feedstocks, lubricants, and other petroleum products. It operates through two segments: Refining and Logistics. The Refining segment includes the operations of its oil refineries and related facilities in Delaware City, Delaware, Paulsboro, New Jersey, Toledo, Ohio, Chalmette, Louisiana, Torrance, California and Martinez, California. The Logistics segment includes the operations of PBF Logistics LP, an indirect wholly owned subsidiary of PBF Energy and PBF LLC, which owns or leases, operates, develops, and acquires crude oil and refined petroleum products terminals, pipelines, storage facilities, and similar logistics assets.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Performance Shipping Inc. Secures $31,000/Day Charter with PBF Holding for Three Years
- Charter Agreement: Performance Shipping has entered into a three-year charter agreement with PBF Holding through a wholly-owned subsidiary, at a rate of $31,000 per day, expected to commence in mid-February, generating approximately $33 million in revenue, significantly enhancing the company's cash flow visibility.
- Revenue Growth: This charter will increase the company's fleetwide backlog to a record level of approximately $349 million, indicating success in stabilizing revenue and executing long-term strategies.
- Strategic Partnership: The collaboration with PBF Holding not only secures three years of stable income but also demonstrates the company's ability to forge new relationships with energy firms, further solidifying its market position.
- Future Outlook: The CEO emphasized a continued focus on medium to long-term charter strategies, highlighting the importance of staggered contract maturities to achieve steady revenues and renewal opportunities, which is expected to support future growth prospects.
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Hara Capital Acquires 173K Shares of Noble Corporation Worth $4.9 Million
- New Position Disclosure: Hara Capital LLC disclosed a new position in Noble Corporation by acquiring 173,597 shares valued at $4.9 million in Q4, marking it as the firm's sixth-largest equity investment and reflecting confidence in the company.
- Asset Allocation Shift: This acquisition positions Noble to account for 2.7% of Hara Capital's reportable 13F assets, highlighting its significance within the firm's total U.S. equity assets of $179.74 million.
- Market Performance Analysis: Despite Noble's stock price declining by 2.9% over the past year while the S&P 500 gained 18.8%, its 6.1% dividend yield continues to attract investor interest, indicating stable cash flow capabilities.
- Contract Growth Potential: Noble reported third-quarter revenue of $798 million, down 0.4% year-over-year; however, management noted new contracts signed, with a backlog reaching $7 billion, indicating strong future growth potential.
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