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Performance Shipping Inc. (NASDAQ: PSHG) has signed a shipbuilding contract for a newbuilding LR1 tanker vessel with a contract price of US$54.1 million. The vessel will be equipped with advanced engines and emission compliance systems. This marks the company's fourth shipbuilding contract, with future deliveries scheduled from October 2025 to January 2027. The company's revenue backlog stands at US$203.9 million, securing growth and sustainability in the energy transition.