Industrials -
Marine Shipping - NASDAQ - GR
$ 1.76
-1.11 %
$ 21.9 M
Market Cap
1.13
P/E
1. INTRINSIC VALUE
Balance Sheet
Performance Shipping Inc.
| Current Assets | 78.7 M |
| Cash & Short-Term Investments | 70.3 M |
| Receivables | 5.81 M |
| Other Current Assets | 2.53 M |
| Non-Current Assets | 252 M |
| Long-Term Investments | 0 |
| PP&E | 248 M |
| Other Non-Current Assets | 3.61 M |
| Current Liabilities | 14.9 M |
| Accounts Payable | 2.21 M |
| Short-Term Debt | 7.49 M |
| Other Current Liabilities | 5.15 M |
| Non-Current Liabilities | 40.3 M |
| Long-Term Debt | 40 M |
| Other Non-Current Liabilities | 273 K |
EFFICIENCY
Earnings Waterfall
Performance Shipping Inc.
| Revenue | 87.4 M |
| Cost Of Revenue | 37.3 M |
| Gross Profit | 50.1 M |
| Operating Expenses | 8.3 M |
| Operating Income | 41.8 M |
| Other Expenses | -1.92 M |
| Net Income | 43.7 M |
RATIOS
FREE CASH FLOW ANALYSIS
Free Cash Flow Analysis
Performance Shipping Inc.
| Net Income | 43.7 M |
| Depreciation & Amortization | 13.3 M |
| Capital Expenditures | -47.4 M |
| Stock-Based Compensation | 0 |
| Change in Working Capital | 3.49 M |
| Others | 385 K |
| Free Cash Flow | 12.5 M |
Wall Street Analysts Price Targets
Performance Shipping Inc.
PSHG has no price targets from Wall Street.
4. DIVIDEND
ANALYSIS
0.00%
DIVIDEND YIELD
0.15 USD
DIVIDEND PER SHARE
5. COMPETITION
6. Ownership
Insider Ownership
Performance Shipping Inc.
Sold
0-3 MONTHS
0 USD 0
3-6 MONTHS
0 USD 0
6-9 MONTHS
0 USD 0
9-12 MONTHS
0 USD 0
Bought
0 USD 0
0-3 MONTHS
0 USD 0
3-6 MONTHS
0 USD 0
6-9 MONTHS
0 USD 0
9-12 MONTHS
7. News
Performance Shipping Inc. Announces Successful Placement of $100 Million Bond Offering
ATHENS, Greece, July 02, 2025 (GLOBE NEWSWIRE) -- Performance Shipping Inc. (NASDAQ: PSHG) (“Performance Shipping” or the “Company”) announced today that it has successfully placed USD 100 million of bonds in the Nordic bond market. An application will be made for the bonds to be listed on the Oslo Stock Exchange. The new bonds are due to mature in July 2029 and will pay a fixed coupon of 9.875% per annum, payable semi-annually in arrears and were priced at 97% of par. The bonds are secured in part by first priority mortgages over the Company's two oldest tanker vessels, which are presently unencumbered. The offering is expected to close on July 17, 2025, subject to customary closing conditions.
globenewswire.com
- 2 weeks ago
Performance Shipping Inc. Announces Acceptance of a Signed Commitment Letter From Alpha Bank A.E. to Refinance Existing Facilities
ATHENS, Greece, June 24, 2025 (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 it has accepted a commitment letter whereby it intends to enter into an agreement for a refinancing of the existing loan outstanding of US$29,750,000 with Alpha Bank A.E. (the “Facility”) through two separate wholly-owned subsidiaries of the Company. This Facility is subject to the completion of customary closing conditions and the execution of a final loan agreement by the Company and its lenders. Proceeds from the Facility will be used to refinance in full the existing indebtedness maintained with Alpha Bank and secured by the M/T P. Long Beach and the M/T P. Aliki. This Facility shall bear interest at the rate of SOFR plus 1.90% per annum.
globenewswire.com
- 4 weeks ago
Performance Shipping Inc. Secures Long-Term Time Charter Contract at US$23,750 Per Day With Mercuria for LR1 Newbuilding Tanker
ATHENS, Greece, June 17, 2025 (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 a separate wholly-owned subsidiary, it has entered into a long-term time charter contract with Mercuria Energy Trading S.A. (“Mercuria” or the “Charterer”), for its fourth newbuilding, the previously announced LR1 tanker scheduled for delivery in early 2027.
globenewswire.com
- 1 month ago
Performance Shipping Inc. Announces Fixed Income Investor Meetings
ATHENS, Greece, June 04, 2025 (GLOBE NEWSWIRE) -- Performance Shipping Inc. (NASDAQ: PSHG) (“Performance Shipping” or the “Company”), through its Norwegian investment banks, will arrange a series of fixed income investor calls commencing on June 6, 2025. A five-year USD denominated senior unsecured bond issue may follow, subject to inter alia market conditions.
globenewswire.com
- 1 month ago
Performance Shipping Inc. Reports Financial Results for the First Quarter Ended March 31, 2025
ATHENS, Greece, May 27, 2025 (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 $29.4 million and net income attributable to common stockholders of $29.0 million for the first quarter of 2025. These results are compared to a net income of $11.4 million and net income attributable to common stockholders of $11.0 million for the same period in 2024. Earnings per share, basic and diluted, for the first quarter of 2025 were $2.33 and $0.76, respectively.
globenewswire.com
- 1 month ago
Performance Shipping Inc. Announces Filing of 2024 Annual Report on Form 20-F
ATHENS, Greece, April 16, 2025 (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 2024 Annual Report on Form 20-F for the fiscal year ended December 31, 2024 (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 with a hard copy of the Annual Report free of charge.
globenewswire.com
- 3 months ago
Performance Shipping Inc. Enters Into Potential Forward Sale Agreement for the 2009-Built Aframax Tanker, M/T P. Sophia
ATHENS, Greece, April 07, 2025 (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 a separate wholly-owned subsidiary, it has entered into a forward sale and exclusivity agreement with an unaffiliated third party (the “Buyer”). This agreement grants the Buyer exclusive rights to submit a bid for the conversion of the Company's Aframax tanker, M/T P. Sophia, in an auction for the provision of a Floating Production Storage and Offloading (FPSO) vessel for charter to a national oil company (the “Offshore Project”).
globenewswire.com
- 3 months ago
Performance Shipping Inc. Announces Sale of 2011-Built Aframax Vessel M/T P. Yanbu for US$39 Million and Completion of Delivery to Her New Owners
ATHENS, Greece, March 24, 2025 (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 a separate wholly-owned subsidiary, it has signed a Memorandum of Agreement to sell the 2011-built, 105,400 dwt Aframax tanker vessel, M/T P. Yanbu, to an unaffiliated third party for a gross sale price of US$39 million. The vessel was successfully delivered to her new owner today. The vessel was debt free at the time of sale.
globenewswire.com
- 3 months ago
Performance Shipping Inc. Secures Sale and Leaseback Agreement for Third Newbuild LR2 Aframax Tanker
ATHENS, Greece, March 06, 2025 (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 a separate wholly-owned subsidiary, it has entered into a sale and leaseback agreement with an unaffiliated third party for a previously announced newbuild LR2 Aframax tanker vessel (the “Vessel”). This concludes the financing for all three newbuilding LNG-ready, scrubber-fitted LR2 product/crude oil tanker vessels of approximately 114,000 dwt each expected to be delivered to the Company in August and September 2025, and January 2026.
globenewswire.com
- 4 months ago
Performance Shipping Inc. Reports Financial Results for the Fourth Quarter and Year Ended December 31, 2024
ATHENS, Greece, Feb. 20, 2025 (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 $9.7 million and net income attributable to common stockholders of $9.2 million for the fourth quarter of 2024. These results are compared to a net income of $25.0 million and net income attributable to common stockholders of $24.5 million for the same period in 2023. Earnings per share, basic and diluted, for the fourth quarter of 2024 were $0.74 and $0.25, respectively.
globenewswire.com
- 5 months ago
Performance Shipping Inc. Extends Time Charter for M/T P. Monterey at US$28,000 Per Day for Twelve Months
ATHENS, Greece, Jan. 22, 2025 (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 a separate wholly-owned subsidiary, it has extended the time charter contract with ST Shipping & Transport Pte Ltd., a wholly-owned subsidiary of Glencore (“ST” or the “Charterer”), for the 2011-built, 105,525 dwt Aframax tanker vessel, M/T P. Monterey. The gross charter rate will be US$28,000 per day for a period of twelve months +/- 30 days at the option of the Charterer. This charter commenced in mid-January and will generate approximately US$9.38 million of gross revenue for the minimum duration of the charter.
globenewswire.com
- 5 months ago
Performance Shipping Inc. Secures 21-Month Time Charter Contract at US$28,000 Per Day for Aframax Tanker, M/T Blue Moon
ATHENS, Greece, Dec. 18, 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 a separate wholly-owned subsidiary, it has entered into a time charter contract with American Eagle Tankers (“AET” or the “Charterer”), a member of MISC Group, for the 2011-built, 104,623 dwt Aframax tanker vessel, M/T Blue Moon. The gross charter rate will be US$28,000 per day for a period of twenty-one (21) months +/- 15 days at the option of the Charterer and is expected to commence at the beginning of January. This charter will generate approximately US$17.4 million of gross revenue for the minimum duration of the charter.
globenewswire.com
- 7 months ago
8. Profile
Summary
Performance Shipping Inc. PSHG
COUNTRY
GR
INDUSTRY
Marine Shipping
MARKET CAP
$ 21.9 M
Dividend Yield
0.00%
Description
Performance Shipping Inc., through its subsidiaries, provides shipping transportation services through its ownership of tanker vessels worldwide. It owned and operated five Aframax tanker vessels with a combined carrying capacity of 546,094 dwt. The company was incorporated in 2010 and is based in Athens, Greece.
Contact
373 Syngrou Avenue, Athens, 175 64
https://www.pshipping.com
IPO
Date
Jan. 3, 2011
Employees
211
Officers
Mr. Andreas Nikolaos Michalopoulos
MD, Chief Executive Officer, Secretary & Director
Captain Nikolaos Gavalas
Operations Director
Mr. Anthony C. Argyropoulos
Chief Financial Officer
Captain Panos Chatzikyriakos
HSE Director
Mr. Argyris Chachalis
Technical Director
Andreas Mavrommatis
Chief Accountant
Aikaterini Oikonomea
Legal Counsel