Research analysts who have asked questions during Performance Shipping earnings calls.
Recent press releases and 8-K filings for PSHG.
Performance Shipping Inc. Secures Three-Year Time Charter for M/T P. Monterey
PSHG
New Projects/Investments
Revenue Acceleration/Inflection
- Performance Shipping Inc. (PSHG) has secured a three-year time charter contract for its M/T P. Monterey Aframax tanker with PBF Holding Company LLC.
- The charter rate is US$31,000 per day, commencing in mid-February, and is expected to generate approximately US$33 million of gross revenue for its minimum duration.
- This contract increases the company's fleetwide aggregate backlog to a record level of approximately US$349 million as of January 1, 2026.
Jan 21, 2026, 9:05 PM
Performance Shipping Announces Delivery of M/T P. Marseille
PSHG
New Projects/Investments
- Performance Shipping Inc. announced the naming and delivery of the M/T P. Marseille, which is the third vessel in its newbuilding program.
- The 114,000 DWT LNG-ready Tier III product/crude oil tanker was constructed at Shanghai Waigaoqiao Shipbuilding Co. Ltd. (SWS).
- The M/T P. Marseille has commenced operations under a five-year time charter contract with Clearlake Shipping Pte Ltd, a subsidiary of the Gunvor Group.
- This delivery completes the company's three-LR2-vessel newbuilding program with SWS, with one LR1 chemical/product tanker still scheduled for delivery in early 2027.
Jan 14, 2026, 9:05 PM
Performance Shipping Inc. Announces Successful USD 50 Million Tap Issue
PSHG
Debt Issuance
- Performance Shipping Inc. successfully placed a USD 50 million tap issue in its outstanding senior secured bond due July 17, 2029.
- The tap issue was priced at 103.00% of par value and carries a fixed coupon of 9.875% per annum, payable semi-annually.
- Following this placement, the total outstanding amount under the bonds is now USD 150 million, with net proceeds to be used for general corporate purposes.
Jan 13, 2026, 9:15 PM
Performance Shipping Inc. announces delivery of second Suezmax tanker
PSHG
New Projects/Investments
- Performance Shipping Inc. (PSHG) announced the delivery of the M/T P. Beverly Hills, a 2019-built Suezmax tanker of 157,286 dwt, on December 22, 2025.
- This delivery completes the acquisition of two 2019-built Suezmax tankers.
- With this addition, the company's fleet now totals twelve (12) tanker vessels, including two newbuilds under construction, with ten currently operating.
- The M/T P. Beverly Hills will be immediately employed with Repsol Trading S.A., providing strong cash-flow visibility.
Dec 22, 2025, 9:31 PM
Performance Shipping Inc. Announces Delivery of M/T P. Bel Air Suezmax Tanker
PSHG
New Projects/Investments
Revenue Acceleration/Inflection
- Performance Shipping Inc. took delivery of the M/T P. Bel Air, a 2019-built Suezmax tanker of 157,286 dwt, on December 15, 2025.
- This vessel is the first of two 2019-built Suezmax tankers, with the sister vessel expected to be delivered by the end of December.
- The M/T P. Bel Air will immediately commence a three-year time charter with Repsol Trading S.A. at a rate of US$36,500 per day.
- With this delivery, the Company's fleet now consists of a total of twelve (12) tanker vessels, including two newbuild tankers under construction.
Dec 17, 2025, 1:23 AM
Performance Shipping Inc. Reports Q3 2025 Financial Results and Strategic Fleet Expansion
PSHG
Earnings
Debt Issuance
New Projects/Investments
- Performance Shipping Inc. reported a net income of $3.9 million for Q3 2025, down from $12.4 million in Q3 2024, with basic earnings per share of $0.28. For the nine months ended September 30, 2025, net income increased to $42.4 million from $34.0 million in the prior year, with basic EPS of $3.30.
- Q3 2025 revenue was $18.5 million, a decrease from $22.9 million in Q3 2024, and the fleetwide average Time Charter Equivalent (TCE) rate was $29,460, down from $34,307 in the comparable period.
- The company is acquiring two 2019-built Suezmax tankers for $75.4 million each, with delivery in early 2026, and has secured 3-year time charters for them at $36,500 per day. These and other recent charters have boosted the secured revenue backlog to US$330 million and fixed charter coverage to 70% for 2026 and 57% for 2027.
- As of September 30, 2025, the cash position stood at US$212 million, following the completion of a $100 million Nordic bond issuance due July 2029.
Dec 2, 2025, 9:15 PM
Performance Shipping Inc. secures two-year time charter for M/T P. Long Beach
PSHG
New Projects/Investments
Guidance Update
- Performance Shipping Inc. secured a two-year time charter contract for its M/T P. Long Beach, a 2013-built LR2 Aframax tanker, with SeaRiver Maritime, a wholly owned subsidiary of ExxonMobil Corporation.
- The contract, expected to commence around mid-December 2025, is at a daily gross charter rate of US$30,500.
- This agreement is projected to add approximately US$21.35 million to the company's fleetwide secured revenue backlog for its minimum duration.
- As a result, Performance Shipping Inc.'s total fleet-wide secured revenue backlog increased to approximately US$257 million as of October 1, 2025, and fixed charter coverage for 2026 and 2027 is now approximately 52% and 41%, respectively.
Nov 7, 2025, 10:04 PM
Performance Shipping Inc. Announces Fleet Expansion with Two Suezmax Tanker Acquisitions
PSHG
New Projects/Investments
M&A
Debt Issuance
- Performance Shipping Inc. announced the acquisition of two modern Suezmax tankers, the M/T Eco Bel Air and M/T Eco Beverly Hills.
- Each vessel is a 157,286 dwt Suezmax tanker built in 2019 and was purchased for USD 75,438,000, with delivery expected between December 2025 and January 2026.
- The company plans to fund the acquisition with adequate cash on hand but may add a moderate amount of debt to maintain flexibility for future opportunities.
- This expansion aligns with the company's strategy of fleet modernization and growth in the midsize tanker segment.
Oct 9, 2025, 8:04 PM
Performance Shipping Inc. announces delivery of M/T P. Tokyo
PSHG
New Projects/Investments
- Performance Shipping Inc. announced the naming and delivery of the M/T P. Tokyo, the second vessel in its newbuilding program, which is a 114,000 DWT LNG-ready Tier III product/crude oil tanker.
- The M/T P. Tokyo has commenced operations under a five-year time charter contract with Clearlake Shipping Pte Ltd at a gross rate of US$31,000 per day, with options for a sixth and seventh year.
- The company has two further newbuildings scheduled for delivery: an additional sister LR2 Aframax in early 2026 and an LR1 chemical/product tanker in early 2027.
Sep 2, 2025, 8:28 PM
Quarterly earnings call transcripts for Performance Shipping.
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