Greek owner Performance Shipping, formerly Diana Containerships, continues its transformation into a pure-play aframax owner.

The company has acquired 2007-built aframax  FSL Shanghai from Singapore’s First Ship Lease Trust for $26m. The vessel, which is valued by MSI at $23.1m, is scheduled for delivery by the end of March.

The acquisition will see Performance Shipping’s fleet grow to five vessels made up of four aframaxes and a panamax containership.