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Performance Shipping Inc. Common Shares - PSHG STOCK NEWS

Welcome to our dedicated page for Performance Shipping Common Shares news (Ticker: PSHG), a resource for investors and traders seeking the latest updates and insights on Performance Shipping Common Shares stock.

Performance Shipping Inc. (NASDAQ: PSHG) is a leading provider of shipping transportation services, specializing in the ownership and operation of tanker vessels. The company's fleet consists of eight Aframax tanker vessels, which are employed on time charters with major liner companies to transport containerized cargo along global shipping routes.

As an in-house ship management company, Performance Shipping Inc. is dedicated to delivering administrative, commercial, and technical management services of the highest standard. The company places a strong emphasis on safety, human health, quality, and environmental protection, ensuring that all operations are conducted responsibly and sustainably.

Recent achievements include the successful acquisition and deployment of additional Aframax vessels, boosting the company's capacity to meet growing demand in the shipping industry. Current projects focus on enhancing fleet efficiency and exploring new partnerships to expand service offerings and geographical reach. Financially, Performance Shipping Inc. maintains a stable position with a strong balance sheet, supporting ongoing growth and operational excellence.

The company is committed to staying at the forefront of industry developments and continuously seeks innovative solutions to improve service delivery and customer satisfaction. With a strategic vision and robust operational framework, Performance Shipping Inc. is well-positioned to navigate the complexities of the global shipping market and deliver consistent value to shareholders.

For the latest updates and detailed information about the company's performance, news, and developments, visit StockTitan.

News

Performance Shipping Inc. Issues 2022 Sustainability Report

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Performance Shipping Inc. (NASDAQ: PSHG) releases 2022 Sustainability Report, emphasizing ESG issues, transparency, and accountability.
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Performance Shipping Inc. Reports Financial Results for the Third Quarter and Nine Months Ended September 30, 2023

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Performance Shipping Inc. (PSHG) reported net income of $10.4 million and net income attributable to common stockholders of $9.9 million for Q3 2023, compared to $10.7 million and $10.4 million for the same period in 2022. Revenue was $24.1 million for Q3 2023, compared to $22.1 million for the same period in 2022. Fleetwide, the average TCE rate for Q3 2023 was $31,787, compared with $34,411 for the same period in 2022. Net cash provided by operating activities was $17.9 million for Q3 2023, compared with $11.8 million for Q3 2022.
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Performance Shipping Inc. Announces Filing of Amendment No. 2 to the Solicitation and Recommendation Statement on Schedule 14D-9

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Performance Shipping Inc. (NASDAQ: PSHG) has filed an Amendment No. 2 to the Solicitation/Recommendation Statement on Schedule 14D-9 with the SEC in response to the cash tender offer by Sphinx Investment Corp. to purchase all outstanding shares of the company's common shares and associated preferred stock purchase rights at a price of $3.00 per share in cash. The board of directors has recommended that shareholders reject the offer and not tender any shares pursuant to the offer.
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Performance Shipping Inc. Announces the Sale of 2007 Built M/T P. Kikuma for US$39.3 Million

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Performance Shipping Inc. (NASDAQ: PSHG) has announced the sale of the 2007-built Aframax tanker vessel M/T P. Kikuma to an unaffiliated third party for a gross sale price of US$39.3 million. The sale is expected to result in a gain of approximately US$17.3 million for the company, strengthening its fleet profile and enhancing its ability to finance remaining capital expenditures and pursue fleet renewal strategy.
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Performance Shipping Inc. Announces Initiation of Analyst Coverage by Maxim Group

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Maxim Group initiates coverage of Performance Shipping Inc. with a 'Buy' rating and $4.00 price target.
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Performance Shipping Inc. Announces Completion of US$2 Million Share Buyback Plan and Initiates New US$2 Million Share Buyback Plan

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Performance Shipping Inc. successfully completes $2 million share repurchase plan, announces new plan
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Performance Shipping Inc. Regains Compliance With Nasdaq Minimum Bid Price Requirement

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Performance Shipping Inc. has regained compliance with Nasdaq's minimum bid price requirements for continued listing on the Nasdaq Capital Market. The Company's common shares had a closing bid price of $1.00 per share or greater for at least ten consecutive business days.
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Performance Shipping Inc. Announces Entry Into New Revolving Credit Facility With Nordea Bank at Favorable Terms Resulting in No Debt Maturities Prior To Mid-2027

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Performance Shipping Inc. has successfully refinanced its existing loan facility by entering into a $20 million Revolving Credit Facility with Nordea Bank. The new facility extends the loan's maturity date to 5 years and will be used to pay off the outstanding debt and meet the company's working capital needs. The RCF carries an interest rate of SOFR plus 2.50% per annum and provides flexibility in drawdown and repayment.
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Performance Shipping Inc. Reports Net Income of $18.4 Million, a Second Consecutive Record, 1.7 Million Shares Repurchased for the Second Quarter 2023, and Financial Results for the Second Quarter and Six Months Ended June 30, 2023

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Performance Shipping Inc. Announces Time Charter Contract With ST Shipping at Fixed Floor Rate of US$45,000 Per Day Plus 50/50 Profit Share for LR2 Tanker, M/T P. Aliki

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FAQ

What is the current stock price of Performance Shipping Common Shares (PSHG)?

The current stock price of Performance Shipping Common Shares (PSHG) is $1.76 as of December 20, 2024.

What is the market cap of Performance Shipping Common Shares (PSHG)?

The market cap of Performance Shipping Common Shares (PSHG) is approximately 22.3M.

What does Performance Shipping Inc. do?

Performance Shipping Inc. specializes in shipping transportation services, owning and operating Aframax tanker vessels used for containerized cargo.

How many vessels does Performance Shipping Inc. own?

The company owns and operates eight Aframax tanker vessels.

What are Aframax tanker vessels?

Aframax tanker vessels are medium-sized oil tankers with a deadweight between 80,000 and 120,000 tons, commonly used for transporting oil.

Where are Performance Shipping Inc.'s vessels employed?

The vessels are employed on time charters with major liner companies, transporting containerized cargo along various global shipping routes.

What standards does Performance Shipping Inc. adhere to in its operations?

The company adheres to high standards of safety, human health, quality, and environmental protection in all its operations.

What recent achievements has Performance Shipping Inc. made?

Recent achievements include acquiring additional Aframax vessels and enhancing fleet efficiency.

What is the financial condition of Performance Shipping Inc.?

Performance Shipping Inc. maintains a stable financial position with a strong balance sheet.

What is the company's strategic vision?

The company aims to stay at the forefront of industry developments and continuously seeks innovative solutions to improve service delivery and customer satisfaction.

What is the ticker symbol for Performance Shipping Inc.?

The ticker symbol for Performance Shipping Inc. is NASDAQ: PSHG.

Where can I find the latest news about Performance Shipping Inc.?

For the latest updates and news, visit StockTitan.

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Performance Shipping Inc. Common Shares

Nasdaq:PSHG

PSHG Rankings

#5262 Ranked by Market Cap
N/A Ranked by Dividends

PSHG Stock Data

22.25M
11.40M
8.32%
5.52%
6.94%
Marine Shipping
Industrials
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United States of America
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