Performance Shipping has tapped Piraeus Bank to finance the acquisition of its sixth aframax.

The Nasdaq-listed Greek shipowner said it has arranged a term loan worth $31.9m after agreeing to pay a firm $27.6m for the 105,300-dwt Maran Sagitta (built 2009) from Angelicoussis Group last month. The Maran Sagitta is being renamed P Sophia.

The cash will also refinance $7.3m