Performance Shipping Inc Price, Forecast, Insider, Ratings, Fundamentals & Signals

Athens, greece, march 28, 2024 (globe newswire) -- performance shipping inc. (nasdaq: pshg), (“we” or the “company”), a global shipping company specializing in the ownership of tanker vessels, announced that it has filed its 2023 annual report on form 20-f for the fiscal year ended december 31, 2023 (the "annual report"), with the u.s. securities and exchange commission (the “sec”). the annual report, which contains the company's audited consolidated financial statements, can be accessed through the sec's website at http://www.sec.gov as well as through the company's website at http://www.pshipping.com. upon request, we will provide any shareholder a hard copy of the annual report free of charge.

Athens, greece, march 12, 2024 (globe newswire) -- performance shipping inc. (nasdaq: pshg), ("we" or the "company"), a global shipping company specializing in the ownership of tanker vessels, today announced that, through separate wholly-owned subsidiaries, it has entered into time charter contracts with clearlake shipping pte ltd (the "charterer") for the previously announced three newbuilding lng-ready, scrubber-fitted, lr2 aframax tanker vessels. each employment will be for a firm period of 5 years with the option to extend for a 6th and 7th year. the optional periods are to be declared by the charterer 12 months in advance. the gross charter rate will be us$31,000 per vessel per day for the firm period of five (5) years, and a base rate plus profit share for the optional periods, if declared...

Athens, greece, march 07, 2024 (globe newswire) -- performance shipping inc. (nasdaq: pshg) (“we” or the “company”), a global shipping company specializing in the ownership of tanker vessels, today reported net income of $25.0 million and net income attributable to common stockholders of $24.5 million for the fourth quarter of 2023. the 2023 fourth quarter results compared to a net income of $23.8 million and net income attributable to common stockholders of $9.4 million for the same period in 2022. earnings per share, basic and diluted, for the fourth quarter of 2023 were $2.03 and $0.63, respectively.

Athens, greece, dec. 20, 2023 (globe newswire) -- performance shipping inc. (nasdaq: pshg), (“we” or the “company”), a global shipping company specializing in the ownership of tanker vessels, today announced that, through two separate wholly-owned subsidiaries, it has signed two shipbuilding contracts with china shipbuilding trading co. ltd. (“cstc”) and shanghai waigaoqiao shipbuilding co. ltd. (“sws”) for the construction of two 114,000 dwt lng-ready lr2 aframax product/crude oil tanker vessels expected to be delivered in january and april of 2026, at a purchase price of us$64,845,000 per vessel, net of third-party commission. 15% of the purchase price is payable upon receipt of a refund guarantee; 10% of the purchase price is payable at each of the milestones of steel cutting, keel laying, and launching of the vessels, and the remaining 55% of the purchase price is payable upon the delivery of the vessels.

Athens, greece, dec. 18, 2023 (globe newswire) -- performance shipping inc. (nasdaq: pshg), (“we” or the “company”), a global shipping company specializing in the ownership of tanker vessels, today announces the voluntary prepayment in full of its existing loans with piraeus bank s.a., (the “piraeus loans”). the voluntary prepayment amounts to approximately us$44.8 million. the piraeus loans were secured by the m/t p. monterey, m/t p. yanbu and m/t p. sophia. following the full prepayment of the piraeus loans, the company's total outstanding debt will be approximately us$55.2 million, and three out of the seven vessels comprising the company's current fleet will be completely unencumbered.

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Greek shipping magnate George Economou increases his recent efforts to gain control of Performance Shipping. After commencing a proxy battle last month, Mr. Economou launched a cash tender offer to acquire all of the company's outstanding common stock at a price of $3.00 per share. However, the offer is highly conditional and essentially requires the company to hand over control to Mr. Economou rather than defending against the unsolicited approach.

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Greece-based tanker operator has raised $37.7 million over the past 13 months from relentlessly diluting common shareholders well below net asset value ("NAV"). Like other tanker companies with a focus on the spot- and short-term time charter markets, Performance Shipping has benefited heavily from elevated charter rates caused by recent geopolitical events. Last week, the company reported highly profitable Q1/2023 results with $18.7 million in cash generated from operating activities as compared to $33.8 million for all of 2022.

ATHENS, Greece, Jan. 13, 2023 (GLOBE NEWSWIRE) -- Performance Shipping Inc. (NASDAQ: PSHG), (“we” or the “Company”), a global shipping company specializing in the ownership of tanker vessels, announced that its Board of Directors (the “Board”) has scheduled the Company's 2023 annual general meeting of shareholders (the “2023 AGM”) for February 22, 2023. The Board has set a record date for the 2023 AGM of January 12, 2023.

While my negative perception of the company hasn't changed, the common shares might present a decent trading opportunity ahead of anticipated, very strong Q3 results next month. Considering the company's stated dividend policy, a sizeable dividend announcement might be in the cards.

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Performance Shipping Inc. (PSHG) delivered earnings and revenue surprises of -5.13% and 7.75%, respectively, for the quarter ended December 2021. Do the numbers hold clues to what lies ahead for the stock?

ATHENS, Greece, Jan. 21, 2022 (GLOBE NEWSWIRE) -- Performance Shipping Inc. (NASDAQ: PSHG), (the “Company”), a global shipping company specializing in the ownership of tanker vessels, announced today that its Board of Directors (the “Board”) has scheduled the Company's 2022 annual general meeting of shareholders (the “2022 AGM”) for February 28, 2022. The Board has set a record date for the 2022 AGM of January 25, 2022.