Performance Shipping is tapping Shanghai Waigaoqiao Shipbuilding (SWS) for an LNG-ready aframax newbuilding.

The Athens-based, New York-listed LR2 specialist announced on Wednesday a $62.6m agreement to build a 114,000-dwt, scrubber-fitted tanker at the Chinese shipyard due for delivery in late 2025.

The vessel will be able to trade crude or products, the company said.