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Performance Shipping Inc - PSHG STOCK NEWS

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

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Performance Shipping's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Performance Shipping's position in the market.

News
Performance Shipping Inc. Announces Filing of 2023 Annual Report on Form 20-F
Rhea-AI Summary
Performance Shipping Inc. (NASDAQ: PSHG) has filed its 2023 Annual Report on Form 20-F with the SEC, showcasing audited financial statements for the fiscal year ended December 31, 2023. Shareholders can access the report online or request a hard copy for free.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.53%
Tags
none
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News
Performance Shipping Inc. Secures Five-Year Time Charter Contracts With Clearlake for Three Newbuilding Vessels at US$31,000 Per Vessel Per Day
Rhea-AI Summary
Performance Shipping Inc. (PSHG) secures time charter contracts for three new LNG-ready tanker vessels, generating significant revenue and enhancing cash flow visibility.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.58%
Tags
none
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News
Performance Shipping Inc. Reports Financial Results for the Fourth Quarter and Year Ended December 31, 2023
Rhea-AI Summary
Performance Shipping Inc. (NASDAQ: PSHG) reported net income of $25.0 million for Q4 2023, showing growth from $23.8 million in Q4 2022. Earnings per share were $2.03 and $0.63, respectively. Revenue decreased to $23.8 million due to lower TCE rates. The company generated $109.0 million in revenue for 2023, a 45% increase from 2022. Fleet expansion plans and a share buyback program were highlighted.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
5.68%
Tags
earnings
News
Performance Shipping Inc. Secures Two Year Time Charter Contract With Oil Major at US$37,200 Per Day
Rhea-AI Summary
Performance Shipping Inc. (NASDAQ: PSHG) announces a new time charter contract for the M/T P. Long Beach with Marathon Maritime Company, a subsidiary of Marathon Petroleum Corporation. The gross charter rate is US$37,200 per day for 24 months, generating approximately US$25.7 million of gross revenue. CEO Andreas Michalopoulos highlights the company's ability to secure lucrative charters and solidify relationships with creditworthy counterparties, enhancing profitability and supporting fleet expansion and renewal strategy.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
4.76%
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none
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News
Performance Shipping Inc. Signs Shipbuilding Contracts for the Construction of 2 Newbuilding LNG-Ready Scrubber Fitted Tier III LR2 Tankers
Rhea-AI Summary
Performance Shipping Inc. (NASDAQ: PSHG) signs shipbuilding contracts for two LNG-ready LR2 Aframax product/crude oil tanker vessels with China Shipbuilding Trading Co. Ltd. and Shanghai Waigaoqiao Shipbuilding Co. Ltd. for a total purchase price of US$129,690,000. The vessels are expected to be delivered in January and April of 2026 and will be equipped with high-specification engines and emission compliance systems. The contracts are part of the company's fleet expansion and renewal strategy.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.48%
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none
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News
Performance Shipping Inc. Announces Full Prepayment of Piraeus Bank S.A. Loans and Significant Reduction of Finance Costs
Rhea-AI Summary
Performance Shipping Inc. (NASDAQ: PSHG) voluntarily prepaid in full its existing loans with Piraeus Bank S.A. The prepayment amounts to approximately US$44.8 million, reducing the Company's total outstanding debt to approximately US$55.2 million. Three out of the seven vessels in the Company's fleet will be completely unencumbered, leading to significant financial benefits. CEO Andreas Michalopoulos highlighted the decrease in indebtedness, reduction in future interest rate costs, and the expected positive impact on the Company's financial performance.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
3.5%
Tags
none
News
Performance Shipping Inc. Announces Completion of Sale and Delivery of 2007 Built M/T P. Kikuma to New Owners
Rhea-AI Summary
Performance Shipping Inc. (NASDAQ: PSHG) has completed the sale of the 2007-built Aframax tanker vessel M/T P. Kikuma for US$39.3 million, resulting in a gain of approximately US$17.3 million. The sale also allowed for a prepayment of US$13.9 million towards outstanding indebtedness. The company's fleet now consists of seven (7) Aframax tankers, with one (1) LNG-ready LR2 Aframax tanker expected to be delivered in Q4 2025.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2.44%
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none
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News
Performance Shipping Inc. Issues 2022 Sustainability Report
Rhea-AI Summary
Performance Shipping Inc. (NASDAQ: PSHG) releases 2022 Sustainability Report, emphasizing ESG issues, transparency, and accountability.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-3.23%
Tags
none
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News
Performance Shipping Inc. Reports Financial Results for the Third Quarter and Nine Months Ended September 30, 2023
Rhea-AI Summary
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.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.74%
Tags
earnings
News
Performance Shipping Inc. Announces Filing of Amendment No. 2 to the Solicitation and Recommendation Statement on Schedule 14D-9
Rhea-AI Summary
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.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-2.44%
Tags
none
Stock PSHG logo
Performance Shipping Inc

Nasdaq:PSHG

PSHG Rankings

#5044 Ranked by Market Cap
#4950 Ranked by Stock Gains
N/A Ranked by Dividends

PSHG Stock Data

27.14M
9.99M
8.43%
6.04%
5.95%
Deep Sea Freight Transportation
Transportation and Warehousing
Link
Greece
Athina

About PSHG

we are an in-house ship management company, wholly-owned by performance shipping inc. we provide administrative, commercial, and technical management services of the highest standard to the performance shipping inc. fleet. we are focused on conducting our operations in a manner that is devoted to safety, human health, quality, and environmental protection.