Performance Shipping Stock Price, News & Analysis
Company Description
Performance Shipping Inc. (NASDAQ: PSHG) is a global provider of shipping transportation services in the tanker segment. According to the company’s disclosures, Performance Shipping specializes in the ownership of tanker vessels and employs its fleet on spot voyages, through pool arrangements, and on time charters. The company is classified in the deep sea freight transportation industry within the broader transportation and warehousing sector.
The company describes itself as a global shipping company specializing in tanker vessels. Its fleet includes Aframax, LR2 and Suezmax tankers, as well as an LR1 chemical/product tanker under construction. As of the fleet employment profile reported in the third quarter of 2025, Performance Shipping’s operating Aframax tanker vessels include the BLUE MOON, BRIOLETTE, P. SOPHIA, P. ALIKI, P. MONTEREY, P. LONG BEACH, and two LR2 Aframax newbuilds, M/T P. MASSPORT and M/T P. TOKYO. The company has also contracted for Suezmax tankers and additional newbuilds, reflecting a focus on midsize tanker segments.
The fleet employment profile shows that Performance Shipping deploys its vessels under time-charter contracts, pool arrangements, and spot employment. For example, P. SOPHIA is employed in a pool, while vessels such as BLUE MOON, BRIOLETTE, P. ALIKI, P. MONTEREY, P. LONG BEACH, P. MASSPORT and P. TOKYO are employed under time charters. The company has secured time-charter contracts for its newbuilding vessels, with employment to commence upon delivery, indicating an emphasis on contracted employment for its expanding fleet.
Performance Shipping has reported a fleet expansion and renewal strategy centered on younger, eco-design and fuel-efficient tankers. The company has taken delivery of newbuild LR2 product/crude oil tankers such as the M/T P. MASSPORT, M/T P. TOKYO and M/T P. MARSEILLE, constructed at shipyards in the People’s Republic of China. It has also entered into agreements to acquire 2019-built Suezmax tankers, which are described as modern, eco-design vessels with features such as devices for wake optimization and scrubber fittings, according to the company’s press releases.
In its public communications, Performance Shipping highlights the employment of its vessels under multi-year time-charter contracts with counterparties that include Clearlake Shipping Pte Ltd, Repsol Trading S.A., SeaRiver Maritime (a subsidiary of ExxonMobil Corporation), Pakistan National Shipping Corporation, and other charterers. These arrangements are described by the company as contributing to secured revenue backlog and earnings visibility, while spot and pool employment provide exposure to prevailing tanker market conditions.
Performance Shipping is a foreign private issuer that files reports with the U.S. Securities and Exchange Commission on Form 20-F and Form 6-K. Its Form 6-K filings often incorporate press releases by reference into its effective registration statements on Form F-3. The company’s principal executive office is located in Athens, Greece, as indicated in its SEC filings, and it reports its financial and operating data in U.S. dollars.
The company’s disclosures also describe the use of standard shipping industry performance measures. For example, Performance Shipping reports time charter equivalent (TCE) rates, defined as revenue less voyage expenses divided by available days, and daily vessel operating expenses, which include crew costs, insurance, maintenance, spares, lubricants, taxes, regulatory fees and other expenses, calculated per ownership day. The company reports fleet utilization, ownership days, available days and operating days to describe vessel deployment and revenue-generating activity.
Performance Shipping’s fleet profile, as of late November 2025, lists Aframax tankers built at shipyards in Japan, South Korea and China, as well as Suezmax tankers and newbuild LR1 and LR2 vessels. The company has indicated that all of its newbuilding vessels have secured time-charter contracts to commence upon delivery. It has also communicated that certain vessels, such as M/T P. SOPHIA, may be evaluated for alternative uses, but remain in the fleet when potential transactions do not materialize.
Through its press releases and SEC filings, Performance Shipping presents itself as focused on tanker transportation services, fleet expansion and renewal, and a mix of chartering strategies. Investors and analysts can review the company’s reported revenue, net income, TCE rates, fleet data and charter coverage in its financial result announcements and related tables, while detailed vessel information and charter types are provided in its fleet employment profiles.
Business model and operations
According to the company’s own descriptions, Performance Shipping generates revenue by employing its tanker vessels on spot voyages, through pool arrangements and on time charters. Spot and pool employment expose vessels to short-term freight rate conditions, while time charters provide contracted daily rates over specified periods. The company reports that it has secured multi-year time-charter contracts for several vessels, including Aframax, LR2 and Suezmax tankers, which contribute to its secured revenue backlog.
Performance Shipping’s financial disclosures include definitions of key operating metrics used in the tanker industry. Time charter equivalent rates are presented as a non-GAAP measure that allows comparison of daily earnings across different charter types. The company also discloses daily vessel operating expenses and fleet utilization, providing insight into operating efficiency and vessel deployment.
Fleet characteristics
The company’s fleet includes Aframax and Suezmax tankers, as well as LR2 product/crude oil tankers and an LR1 chemical/product tanker under construction. Vessels in the fleet are built by shipyards such as Sumitomo Heavy Industries Marine & Engineering Co. Ltd., Hyundai Heavy Industries Co. Ltd., Hyundai Samho Heavy Industries, China Shipbuilding Trading Company Limited, Shanghai Waigaoqiao Shipbuilding Company Limited and Jiangsu Yangzijiang Shipbuilding Group Co., Ltd. The company has described its more recent acquisitions and newbuilds as modern, eco-design and fuel-efficient tankers.
Capital markets and reporting
Performance Shipping’s shares trade on the Nasdaq Capital Market under the symbol PSHG. As a foreign private issuer, the company files annual reports on Form 20-F and furnishes current reports on Form 6-K. Certain press releases, including those related to fleet developments, charter contracts, bond issuances and ESG reporting, are attached as exhibits to Form 6-K filings and incorporated by reference into its shelf registration statements on Form F-3.
FAQs about Performance Shipping Inc. (PSHG)
- What does Performance Shipping Inc. do?
Performance Shipping Inc. describes itself as 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. - In which industry does Performance Shipping operate?
Performance Shipping operates in the deep sea freight transportation industry within the broader transportation and warehousing sector, focusing on tanker shipping. - What types of vessels are in Performance Shipping’s fleet?
According to the company’s fleet employment profile and press releases, its fleet includes Aframax tanker vessels, LR2 product/crude oil tankers, Suezmax tankers and an LR1 chemical/product tanker under construction. - How does Performance Shipping employ its vessels?
The company states that it employs its fleet on spot voyages, through pool arrangements and on time charters. Specific vessels are listed as operating under time-charter contracts or in a pool, and newbuild vessels have secured time-charter employment commencing upon delivery. - Where is Performance Shipping based?
SEC filings list the principal executive office of Performance Shipping Inc. in Athens, Greece. - On which exchange is PSHG listed?
Performance Shipping Inc.’s common shares trade on the Nasdaq Capital Market under the ticker symbol PSHG. - What is Performance Shipping’s focus in terms of fleet strategy?
In its press releases, the company refers to a fleet expansion and renewal strategy, including the acquisition and construction of younger, eco-design and fuel-efficient tanker vessels in the Aframax, LR2 and Suezmax segments. - How does Performance Shipping describe its revenue-related metrics?
The company reports revenue, voyage expenses and time charter equivalent (TCE) rates, defining TCE as revenue less voyage expenses divided by available days, consistent with shipping industry practice. It also reports daily vessel operating expenses and fleet utilization. - What kinds of counterparties charter Performance Shipping’s vessels?
Based on the company’s press releases, counterparties include entities such as Clearlake Shipping Pte Ltd, Repsol Trading S.A., SeaRiver Maritime (a subsidiary of ExxonMobil Corporation) and Pakistan National Shipping Corporation, among others. - Does Performance Shipping publish ESG information?
A Form 6-K filing notes that the company issued an ESG report, indicating that it publishes environmental, social and governance-related information.
Stock Performance
Performance Shipping (PSHG) stock last traded at $1.81, down 2.76% from the previous close. Over the past 12 months, the stock has gained 16.0%. At a market capitalization of $22.9M, PSHG is classified as a micro-cap stock with approximately 12.4M shares outstanding.
Latest News
Performance Shipping has 10 recent news articles, with the latest published 6 days ago. Of the recent coverage, 5 articles coincided with positive price movement and 4 with negative movement. Key topics include earnings. View all PSHG news →
SEC Filings
Performance Shipping has filed 5 recent SEC filings, including 4 Form 6-K, 1 Form SC TO-T/A. The most recent filing was submitted on March 18, 2026. SEC filings provide transparency into a company's financial condition, material events, and regulatory compliance. View all PSHG SEC filings →
Financial Highlights
Performance Shipping generated $87.4M in revenue over the trailing twelve months, operating income reached $41.8M (47.8% operating margin), and net income was $43.7M, reflecting a 50.0% net profit margin. Diluted earnings per share stood at $1.11. The company generated $59.9M in operating cash flow. With a current ratio of 5.29, the balance sheet reflects a strong liquidity position.
Upcoming Events
Auction conclusion deadline
Vessel delivery (sale)
Charter expiration
LR1 tanker charter start
LR1 vessel delivery
Newbuilding delivery
LR1 tanker delivery
Suezmax tanker delivery
Repurchase option eligibility
Suezmax tanker delivery
Performance Shipping has 14 upcoming scheduled events. The next event, "Auction conclusion deadline", is scheduled for April 5, 2026 (in 13 days). 5 of the upcoming events are financial in nature, such as earnings calls or quarterly results. Investors can track these dates to stay informed about potential catalysts that may affect the PSHG stock price.
Short Interest History
Short interest in Performance Shipping (PSHG) currently stands at 547.3 thousand shares, down 2.2% from the previous reporting period, representing 4.4% of the float. Over the past 12 months, short interest has decreased by 22.6%. This relatively low short interest suggests limited bearish sentiment. With 11.5 days to cover, it would take significant time for short sellers to close their positions based on average trading volume.
Days to Cover History
Days to cover for Performance Shipping (PSHG) currently stands at 11.5 days, up 41.8% from the previous period. This elevated days-to-cover ratio indicates it would take over two weeks of average trading volume for short sellers to exit their positions, suggesting potential for a short squeeze if positive news emerges. The days to cover has decreased 48% over the past year, suggesting improved liquidity for short covering. The ratio has shown significant volatility over the period, ranging from 2.3 to 22.0 days.
PSHG Company Profile & Sector Positioning
Performance Shipping (PSHG) operates in the Marine Shipping industry within the broader Industrials sector and is listed on the NASDAQ.
Investors comparing PSHG often look at related companies in the same sector, including Globus Maritime Limited (GLBS), Castor Maritime Inc (CTRM), United Maritime Corporation (USEA), Eurodry Ltd (EDRY), and High-Trend International Group (HTCO). Comparing financial metrics, valuation ratios, and stock performance across these peers can help investors evaluate PSHG's relative position within its industry.