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Performance Shipping Inc

Performance Shipping Inc (PSHG)

1.89
-0.01
( -0.53% )
Updated: 13:13:03

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Key stats and details

Current Price
1.89
Bid
1.88
Ask
1.89
Volume
26,922
1.885 Day's Range 1.93
0.6776 52 Week Range 2.53
Market Cap
Previous Close
1.90
Open
1.92
Last Trade
50
@
1.885
Last Trade Time
13:16:59
Financial Volume
$ 51,469
VWAP
1.9118
Average Volume (3m)
81,437
Shares Outstanding
11,903,410
Dividend Yield
-
PE Ratio
1.87
Earnings Per Share (EPS)
1.01
Revenue
75.17M
Net Profit
12M

About Performance Shipping Inc

Performance Shipping Inc is a provider of shipping transportation services through its ownership of containerships. The company's vessels are employed primarily on time charters with liner companies carrying containerized cargo along various shipping routes. It owns and operates five Aframax tanker ... Performance Shipping Inc is a provider of shipping transportation services through its ownership of containerships. The company's vessels are employed primarily on time charters with liner companies carrying containerized cargo along various shipping routes. It owns and operates five Aframax tanker vessels. Show more

Sector
Water Transport Svcs, Nec
Industry
Water Transport Svcs, Nec
Headquarters
Athens, Attica, Grc
Founded
1970
Performance Shipping Inc is listed in the Water Transport Svcs sector of the NASDAQ with ticker PSHG. The last closing price for Performance Shipping was $1.90. Over the last year, Performance Shipping shares have traded in a share price range of $ 0.6776 to $ 2.53.

Performance Shipping currently has 11,903,410 shares outstanding. The market capitalization of Performance Shipping is $22.50 million. Performance Shipping has a price to earnings ratio (PE ratio) of 1.87.

PSHG Latest News

Performance Shipping Inc. Announces Filing of 2023 Annual Report on Form 20-F

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...

Performance Shipping Inc. Secures Five-Year Time Charter Contracts With Clearlake for Three Newbuilding Vessels at US$31,000 Per Vessel Per Day

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...

Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16]

FORM 6-K SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Report of Foreign Private Issuer Pursuant to Rule 13a-16 or 15d-16 of the Securities Exchange Act of 1934...

Performance Shipping Inc. Reports Financial Results for the Fourth Quarter and Year Ended December 31, 2023

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...

Form SC 13G/A - Statement of acquisition of beneficial ownership by individuals: [Amend]

    UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549   SCHEDULE 13G   Under the Securities Exchange Act of 1934   (Amendment No...

Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16]

FORM 6-K SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Report of Foreign Private Issuer Pursuant to Rule 13a-16 or 15d-16 of the Securities Exchange Act of 1934...

Performance Shipping Inc. Secures Two Year Time Charter Contract With Oil Major at US$37,200 Per Day

ATHENS, Greece, Dec. 21, 2023 (GLOBE NEWSWIRE) -- Performance Shipping Inc. (NASDAQ: PSHG), (“we” or the “Company”), a global shipping company specializing in the ownership of tanker vessels...

Form SC 14D9/A - Solicitation, recommendation statements: [Amend]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549   SCHEDULE 14D-9 SOLICITATION/RECOMMENDATION STATEMENT UNDER SECTION 14(d)(4) OF THE...

PeriodChangeChange %OpenHighLowAvg. Daily VolVWAP
10.021.069518716581.871.981.85697581.88825799CS
40.042.162162162161.851.981.74878491.87850581CS
12-0.41-17.82608695652.32.381.7814371.96154944CS
26-0.16-7.804878048782.052.531.62081832.03702022CS
521.1274147.8363493310.76262.530.67762593151.66462968CS
156-84.81-97.820069204286.792.10.67769115186.14668962CS
260-8.31-81.470588235310.2121.650.67767891039.22368014CS

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PSHG Discussion

View Posts
TRADER99 TRADER99 2 weeks ago
Little more volume today good sign
👍️0
€LL-$G7$ €LL-$G7$ 3 weeks ago
Yeah let them bring it back down to 1 and then they buy again. Throw this pos in the ocean and let it sink
👍️0
TRADER99 TRADER99 3 weeks ago
CASH balance end year 2023 was $68.3 million and $109 million in revenue . Not too shabby but this play needs volume for sure.

Our cash balance at the end of 2023 was approximately $68.3 million, reflecting a 72% increase from the 2022 year-end cash balance.

“As previously announced, in August 2023, the Company’s board of directors approved a $2 million share buyback program. Pursuant to this initiative, we repurchased 293,767 shares of common stock during the fourth quarter of 2023, totaling approximately $0.7 million. We firmly believe that this program is in the best interests of both our Company and our shareholders, and we intend to continue our share buybacks, depending on prevailing market conditions.

“Our impressive revenue generation of approximately $109 million during the last fiscal year is indicative of our ability to capitalize on the firm freight rate environment through the efficient operation of our fleet.

👍️0
€LL-$G7$ €LL-$G7$ 3 weeks ago
Lol that was the firework show. Now trickle down to 140s till june
👍️0
€LL-$G7$ €LL-$G7$ 3 weeks ago
I think you been smoking the LaLa...
PSHG is a pos scamming company worse than stinky pinks
👍️0
TRADER99 TRADER99 3 weeks ago
Get ready...DIP B4 THE RIP🚀
👍️0
TRADER99 TRADER99 3 weeks ago
I think the delay in the earnings report must have something to do with the buyout offer at $3.00/share
👍️0
€LL-$G7$ €LL-$G7$ 3 weeks ago
Lol.. what a POS here. 140s inbound

Rs by September mark this post
👍️0
€LL-$G7$ €LL-$G7$ 1 month ago
Er late as usual. ... more loans for more ship for more stock offering ls.
No Divy. Less than 60k shares bought from company and setting up for a nice greek summer on their yachts.

Hold the bag
👍️0
€LL-$G7$ €LL-$G7$ 1 month ago
Hocus pocus stats that do not matter or never effected any greek shipping company.
Never will it ever play fair or trade like a regular big board stock.
👍️0
TRADER99 TRADER99 1 month ago
Float is 9.87million. Just needs more eyes here and another catalyst. $85 mill in CASH

Balance Sheet

Total Cash (mrq)85.4MTotal Cash Per Share (mrq)7.03Total Debt (mrq)117.12MTotal Debt/Equity (mrq)55.94%Current Ratio (mrq)N/ABook Value Per Share (mrq)17.23
👍️0
€LL-$G7$ €LL-$G7$ 1 month ago
Zzzzzzzz the offer will get pulled. GE will dump his shares and this will go under a dollar again. RS all over again . Tic toc
👍️0
TRADER99 TRADER99 1 month ago
Even if the offer doesn't go through, they have bought back shares and mentioned they may continue.
👍️0
TRADER99 TRADER99 1 month ago
Yes. $3.00/share, March 28th deadline

"shareAmendment No.4 to the Schedule 13D filed by the Offeror, Maryport Navigation Corp. and Mr. George Economou on August 25, 2023 (and amended on August 31, 2023.) "

"Unless the Offer is extended by the Offeror, the Offer and withdrawal rights thereunder will expire at 11:59 p.m., New York City Time, on March 28, 2024."
👍️0
Longer Than Most Longer Than Most 1 month ago
Seems really cheap down here. Is a buyout still a possibility?
👍️0
TRADER99 TRADER99 1 month ago
ER sometime this week with an estimate of .69/share.
👍️0
Longer Than Most Longer Than Most 1 month ago
This still in play?
👍️0
€LL-$G7$ €LL-$G7$ 1 month ago
Long time b4 fins they'll be mid March late as usual
👍️0
TRADER99 TRADER99 1 month ago
Wow great. I'll be ready to scoop them up for the next swing 😁
👍️ 1
€LL-$G7$ €LL-$G7$ 1 month ago
Zzzzzzzzz it's been over 2 plenty of times... next dump going to 140s
👍️0
TRADER99 TRADER99 1 month ago
Calm before the storm here. We'll be moving over $2 soon
👍️0
TRADER99 TRADER99 2 months ago
SC-13G/A filed this morning. Heavy hitter here.

"As of the close of business on December 31, 2023, each of the Reporting Persons may have been deemed to have beneficial ownership of 472,800 shares of Common Stock, which consisted of (i) 23,134 shares of Common Stock issuable upon exercise of a warrant held by Intracoastal (“Intracoastal Warrant 1”), (ii) 73,333 shares of Common Stock issuable upon exercise of a second warrant held by Intracoastal (“Intracoastal Warrant 2”), (iii) 193,333 shares of Common Stock issuable upon exercise of a third warrant held by Intracoastal (“Intracoastal Warrant 3”) and (iv) 183,000 shares of Common Stock issuable upon exercise of a fourth warrant held by Intracoastal (“Intracoastal Warrant 4”), and all such shares of Common Stock in the aggregate represent beneficial ownership of approximately 3.9% of the Common Stock, based on (1) 11,734,683 shares of Common Stock"
👍️ 1
€LL-$G7$ €LL-$G7$ 2 months ago
Red for 4 weeks here.. lol
👍️0
€LL-$G7$ €LL-$G7$ 2 months ago
You means dilution rising ..?
👍️0
TRADER99 TRADER99 2 months ago
Accumulation rising
👍️ 1
TRADER99 TRADER99 2 months ago
Earnings release in 3 weeks. Should beat it. I believe .69 EPS estimate
👍️0
€LL-$G7$ €LL-$G7$ 2 months ago
Below 1
👍️0
TRADER99 TRADER99 2 months ago
Are you loading now? 😏
👍️0
€LL-$G7$ €LL-$G7$ 2 months ago
Lol. 😃
👍️0
€LL-$G7$ €LL-$G7$ 2 months ago
Stuck like chuck. Trades like a stinky pinky.
. Nonone touching this with a 10ft pole
👍️0
€LL-$G7$ €LL-$G7$ 2 months ago
No scraping here.. only lawsuits , panic and dilution to buy their new ships.
Company still does not care about investors
👍️0
TRADER99 TRADER99 2 months ago
Nice...looking for a good scalp then 👍😀
👍️0
€LL-$G7$ €LL-$G7$ 2 months ago
Pshg is toast. Back to 160s.
February the fun begins in courts
👍️0
€LL-$G7$ €LL-$G7$ 2 months ago
Very quiet I see... sub 2 inbound. Offer will get pulled and voided. Dilution to begin
👍️0
TRADER99 TRADER99 3 months ago
Little quiet here. Remember $3 buyout offer...could be more last minute
👍️0
surfer44 surfer44 3 months ago
Just noise imo.
👍️0
gladeshawk gladeshawk 3 months ago
PPS jumped a bit today 5% plus. Is it because of the news? Any thought you have would be appreciated. HAWK
👍️0
surfer44 surfer44 3 months ago
I received this today. I haven't reviewed the offering yet.

Review your notification or voluntary corporate action.
You have an important notification or voluntary corporate action for one or more securities in your account ending in #####824. Please take a moment to read the full message for any actions you may need to take.

Step 1: Review information about your offering. If this area is blank, continue to Step 2.
Offer Type: A SUPPLEMENTAL NOTICE
Security Description: PERFORMANCE SHIPPING INC

CUSIP#: Y67305154
Quantity: ###########

Offer Expires: March 28, 2024 11:59 PM ET
Reply By: March 26, 2024 11:59 PM ET



Step 2: Click below to read your notification(s) or offering material(s).
• Offer



Step 3: Remember these things.
• You may receive a separate notification from us, which provides additional information about your participation options and the response deadline.
• Keep timing in mind: Our deadline to respond will come before the expiration date as we need time to process your request.
• There may be limited circumstances where our separate notification directs you or your advisor (if applicable) to respond to someone other than Schwab.
• If you have questions about the materials, please contact the company or agent(s) directly using the contact information included in the offering materials (if applicable).



Step 4: Monitor market conditions.
• We encourage you to monitor market conditions, prices, and events surrounding all securities involved in the event.


Questions?
If you have any questions about this notification, please call us at 1-800-435-4000. If you’re calling us from outside the U.S., please call us at +1-415-667-7870.






👍️0
gladeshawk gladeshawk 3 months ago
PSHG notice from TDAmeritrade. Could not open. Anyone get a notice?
👍️0
surfer44 surfer44 3 months ago
Performance Shipping Inc. Secures Two Year Time Charter Contract With Oil Major at US$37,200 Per Day
December 21 2023 - 09:28AM


Performance Shipping Inc. (NASDAQ: PSHG), (“we” or the “Company”), a global shipping company specializing in the ownership of tanker vessels, today announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Marathon Maritime Company (the “Charterer”), a wholly-owned subsidiary of Marathon Petroleum Corporation (NYSE: MPC), for the M/T P. Long Beach. The gross charter rate will be US$37,200 per day for a period of twenty-four (24) months +/- 40 days at the option of the Charterer and is expected to commence at the end of December. This charter will generate approximately US$25.7 million of gross revenue for the minimum duration of the charter. The M/T P. Long Beach is a 105,408 dwt Aframax tanker vessel built in 2013 by Hyundai Heavy Industries Co., Ltd.

Commenting on this charter, Andreas Michalopoulos, the Company’s Chief Executive Officer, stated:

“We are very pleased to announce this new time charter contract for our Aframax tanker, M/T P. Long Beach. This charter not only showcases our ability to secure highly lucrative charters but also reflects our solid business reputation through our newly established relationships with top-tier and creditworthy counterparties, such as Marathon Petroleum.

“Together with this charter, over half of our current fleet will be under time charter contracts, earning gross charter rates ranging from US$23,000 to US$37,200 per day. This brings our secured revenue backlog to approximately US$54 million, based on the minimum duration of each charter. We expect to further enhance our current profitability by capitalizing on the firm freight rate environment through the operation of our remaining tankers under pool arrangements. This significant steady cashflow will further reinforce our market position and support our fleet expansion and renewal strategy, while providing partial funding of our capital expenditures related to our shipbuilding contracts for the purchase of three newbuild LNG-ready LR2 Aframax tankers, expected to be delivered in 2025 and 2026.”

About the Company

Performance Shipping Inc. is a global provider of shipping transportation services through its ownership of tanker vessels. The Company employs its fleet on spot voyages, through pool arrangements and on time charters.
👍️0
surfer44 surfer44 3 months ago
Performance Shipping Inc. Signs Shipbuilding Contracts for the Construction of 2 Newbuilding LNG-Ready Scrubber Fitted Tier III LR2 Tankers

December 20 2023 - 09:28AM


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.
The vessels will be equipped with electronic main engines with high-pressure selective catalytic reactors (HPSCR) for Tier III (NOx Emissions) compliance, exhaust gas cleaning systems (EGCS – commonly referred to as scrubbers) for Tier II (NOx Emissions) compliance, and ballast water treatment systems (BWTS).

Commenting on the contracts, Andreas Michalopoulos, the Company’s Chief Executive Officer, stated:

“These shipbuilding contracts supplement the previous contract we entered into with SWS in March 2023 for a Tier III product/crude oil carrier scheduled for delivery around October 2025. The construction of these LNG-ready LR2 oil tankers, equipped with the latest high-specification engines and meeting stringent emission requirements, along with scrubbers and water ballast treatment systems, will take place at the largest and most reputable state-owned shipyard in China. Following the sale of our oldest, 2007 built, Aframax tankers, M/T P. Fos in October 2022 and M/T P. Kikuma in November 2023, the Company is now poised to take delivery of three identical “sister” vessels in late 2025 through early 2026. These sales and acquisitions constitute our core fleet expansion and renewal strategy. We believe that tanker fleet growth will reach historical lows in the coming years and maintaining a modern fleet among an aging global fleet during periods of high seaborne trade demand will result in sustainably strong fundamentals and higher asset values.”

About the Company

Performance Shipping Inc. is a global provider of shipping transportation services through its ownership of tanker vessels. The Company employs its fleet on spot voyages, through pool arrangements and on time charters.
👍️0
gladeshawk gladeshawk 3 months ago
Financilal situation greatly improved. Maybe, just maybe, we see a divy soon. HAWK
👍️0
1hot toddy 1hot toddy 3 months ago
co paid off 44 million dollar loan $$$$$$$$$$$$$$
👍️ 1
surfer44 surfer44 3 months ago
Performance Shipping Inc. Announces Full Prepayment of Piraeus Bank S.A. Loans and Significant Reduction of Finance Costs
December 18 2023 - 09:27AM


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.

Commenting on this prepayment, Andreas Michalopoulos, the Company’s Chief Executive Officer, stated:

“Following the recent strategic sale of the M/T P. Kikuma, we deployed our excess liquidity to prepay the Piraeus Loan, decreasing the Company's indebtedness by approximately 44%, significantly reducing future interest rate costs, and enhancing our financial performance. Indicatively, the prepayment will result in negative net leverage of approximately -3% of our estimated fleet market value, savings of US$5.3 million per annum in principal loan repayments, and a reduction of our expected 2024 finance costs by approximately US$3.7 million or approximately 50%. We expect to continue generating significant free cashflow with the crude oil and refined petroleum product tanker markets remaining strong, further strengthening our balance sheet and, with three unencumbered vessels in our fleet, enhancing our ability to pursue growth opportunities. We believe that the efficient use of our excess cash towards the deleveraging of our Company, as well as the continuation of our preapproved US$2 million share buyback program, enhances shareholder value.”

About the Company

Performance Shipping Inc. is a global provider of shipping transportation services through its ownership of tanker vessels. The Company employs its fleet on spot voyages, through pool arrangements and on time charters.
👍️0
surfer44 surfer44 3 months ago
More of the same with the offer to purchase. I put it on ignore.

Important Corporate Action Communication


PERFORMANCE SHIPPING INC
A SUPPLEMENT TO THE OFFER TO PURCHASE




This e-mail contains information specific to your holding(s) in the securities identified below. If you have any comments or questions, please contact your Financial Institution.

Please refer to the material for information about this corporate action event.
👍️0
gladeshawk gladeshawk 3 months ago
Received notice of a filing. Could not get it to open. Anyone see it?
👍️0
€LL-$G7$ €LL-$G7$ 3 months ago
I'm sure you'll get a reply and explanation. Lol
Timber 170s
👍️0
surfer44 surfer44 3 months ago
Wow. $39 million for a 16 year-old Aframax. Very nice!
👍️0
surfer44 surfer44 3 months ago
Performance Shipping Inc. Announces Completion of Sale and Delivery of 2007 Built M/T P. Kikuma to New Owners
December 13 2023 - 09:2

Performance Shipping Inc. (NASDAQ: PSHG), (“we” or the “Company”), a global shipping company specializing in the ownership of tanker vessels, today announced that, through a separate wholly-owned subsidiary, it has completed the previously announced sale of the 2007-built Aframax tanker vessel M/T P. Kikuma for US$39.3 million, with delivery of the vessel to her new owners.
Following the sale of the P. Kikuma, the Company’s fleet currently consists of seven (7) Aframax tankers, and one (1) LNG-ready LR2 Aframax tanker expected to be delivered during the fourth quarter of 2025.

Commenting on the delivery, Andreas Michalopoulos, the Company’s Chief Executive Officer, stated:

“As previously announced, the completion of the sale of our oldest Aframax tanker results in an even more attractive fleet profile consisting of younger vessels. This strategic shift positions our Company favorably to capitalize on the positive momentum of the tanker charter rate environment. The gross sale price of US$39.3 million not only yields a gain of approximately US$17.3 million on the vessel sale during the fourth quarter of 2023, but also facilitates a prepayment of US$13.9 million towards our outstanding indebtedness with Piraeus Bank S.A., secured by the vessels M/T P. Kikuma and M/T P. Monterey. With a strong balance sheet, the Company is well-positioned to pursue its fleet renewal and expansion objectives.”

About the Company

Performance Shipping Inc. is a global provider of shipping transportation services through its ownership of tanker vessels. The Company employs its fleet on spot voyages, through pool arrangements and on time charters.
👍️0
gladeshawk gladeshawk 4 months ago
+Bought some shares today.$2.02 avg. Probably be buying more tomorrow.
👍️0

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