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Performance Shipping Inc. filings document a foreign private issuer that owns and operates tanker vessels. Form 6-K reports attach company releases on time charters, newbuilding deliveries, shipbuilding contracts, vessel sale-and-leaseback financing, vessel sale activity, and quarterly or annual operating results.
The filing record also includes Form 20-F annual reporting with audited consolidated financial statements and registration-statement incorporation language tied to Form F-3 shelf registrations. These documents address fleet composition, charter employment, capital-structure disclosure, material agreements and governance matters connected to tanker shipping operations.
Performance Shipping Inc., a tanker vessel owner, reports two fleet developments. The company extended the time charter for the 2011-built Aframax M/T Blue Moon with American Eagle Tankers for 24 months +/- 15 days at gross rates of US$43,000 per day in the first year and US$38,000 per day in the second, averaging US$40,500 per day. The extended charter, expected to start after the vessel’s planned drydock by the end of 2026, is expected to generate approximately US$29 million in gross revenue over its minimum term.
Management notes that this rate compares with the vessel’s previous applicable rate of US$28,000 per day and states that contracted revenue backlog increases to over US$530 million as of mid-2026. Charter coverage approaches 90% through the end of 2028 and remains about 60% for 2029, which the company says enhances cash flow visibility.
Separately, Performance Shipping completed the sale and delivery of the 2009-built Aframax M/T P. Sophia, which was debt-free at delivery, for a gross price of US$35.65 million versus an acquisition price of approximately US$27.6 million in 2022. The chief executive describes this roughly 30% increase over the purchase price as strengthening liquidity and advancing the fleet renewal strategy, reducing pro forma average fleet age to about six years.
Performance Shipping Inc. has amended its secured loan facility with Nordea Bank through two wholly owned subsidiaries. The supplemental agreement extends the facility’s maturity to four years from its effective date and reduces the interest margin from 2.50% per year to 1.60% per year.
The change affects only the terms of the existing facility, leaving the outstanding loan principal unchanged, and the facility continues to be secured and guaranteed by the company. According to management’s comments, the extension means the company has no bank debt maturities scheduled before mid-2030, which supports longer-term liquidity planning.
Performance Shipping Inc. reported a new multi-year charter extension for its Aframax tanker M/T Briolette with Aramco Trading Fujairah. The vessel will earn a gross rate of US$37,700 per day for about 35 months, with Charterer flex of plus or minus 30 days.
The charter began in direct continuation of the prior deal on July 2, 2026 and is expected to generate roughly US$39 million in gross revenue over its minimum term. Management stated that, with this agreement, contracted revenue backlog has risen above US$500 million as of mid‑2026 and average remaining charter duration stands at 3.2 years.
The company reported charter coverage above 80% through the end of 2028 and about 60% in 2029. It also highlighted that additional contracted employment lowers the average daily rate needed on open days to fully cover expected cash obligations to effectively zero through 2028, and about US$10,000 per day in 2029, supporting financial flexibility.
Performance Shipping Inc. has obtained bondholder approval to amend the terms of its 9.875% senior secured bonds, so the bonds become senior unsecured obligations of the company. The amendments release existing security, including ship mortgages over the vessels P. Monterey and P. Sophia, and remove use-of-proceeds restrictions on selling collateral vessels.
The minimum liquidity covenant will increase from US$20.0 million to US$30.0 million, and the company will pay a one-time amendment fee of 0.325% of the US$150.0 million nominal bond amount. Management highlights that, since the bonds’ inaugural issue, the fleet grew by four vessels with 3–7-year charters, two older vessels were sold, the fleetwide average age fell to six years, and contract backlog roughly doubled to almost US$0.5 billion.
Through the remaining three-year bond term, the average daily charter rate needed on open, uncontracted days to meet all cash obligations is stated as ranging from zero through the end of 2027, to US$3,500 in 2028 and US$11,600 in 2029. The company also points to a robust cash balance and unencumbered vessels as supportive for future refinancing.
Performance Shipping Inc. attached a summons for a Written Resolution to amend the terms of its 9.875% Senior Secured USD 150,000,000 bonds 2025/2029 (ISIN NO0013607028).
The summons is filed as Exhibit 99.1 and was signed by CEO Andreas Michalopoulos on June 12, 2026.
Performance Shipping Inc. reported first-quarter 2026 net income of $10.2 million, down from $29.4 million a year earlier, when results included a $19.5 million vessel sale gain. Excluding that one-time item, underlying profitability improved.
Revenue rose to $33.8 million from $21.3 million, driven by fleet expansion to an average of 10.9 vessels and a higher average TCE rate of $32,520 per day. Net cash from operating activities increased to $23.0 million from $15.5 million, reflecting stronger operating performance.
The company highlighted a revenue backlog of nearly half a billion dollars, with about 90% charter coverage for the remaining nine months of 2026 and 80% for full-year 2027. Cash, cash equivalents and restricted cash reached $126.6 million as of March 31, 2026, compared with $49.3 million at year-end 2025.
Recent actions include a $50 million tap issuance of 9.875% Nordic bonds due July 2029, delivery of newbuild tanker P. Marseille on a five-year charter at $31,000 per day, and contracts to sell two older vessels for $35.65 million and $42.65 million. The company also ordered two Suezmax newbuilds at $81.5 million each, both fixed on long-term charters, and secured $37.8 million sale and leaseback financing for an LR1 newbuilding.
Performance Shipping Inc. files a shelf registration on to offer up to $250,000,000 of common shares, preferred shares, debt securities, warrants and other instruments from time to time.
The prospectus also registers up to 6,233,522 common shares issuable upon exercise of outstanding warrants (including 2,122,222 August 2022 Warrants, 14,300 Series A Warrants and 4,097,000 Series B Warrants). Shares issued and outstanding were 12,432,158 as of May 4, 2026; aggregate market value of common shares held by non-affiliates was approximately $29,586,870.04 based on a closing price cited in the prospectus. The registration permits periodic offerings and the issuance of shares upon warrant exercise; proceeds treatment for warrant cash exercises is described in the prospectus.
Performance Shipping Inc. has filed its annual report on Form 20‑F, outlining its tanker business, capital structure, and extensive risk factors. As of December 31, 2025, the company had 12,432,158 common shares outstanding, plus Series B and Series C preferred shares.
The report emphasizes exposure to highly cyclical tanker markets, with charter rates and vessel values driven by oil demand, fleet supply, and global economic conditions. It highlights the impact of wars, sanctions on Russian oil, Middle East tensions, Red Sea attacks, and potential disruptions in the Strait of Hormuz on ton‑mile demand, asset prices, financing and insurance costs.
Performance Shipping details operational and regulatory risks, including environmental compliance, piracy, sanctions regimes, severe weather and climate change, sanctions‑related port and trade restrictions, and new U.S.–China port fee frameworks. Company‑specific risks cover debt covenants, secondhand and newbuilding exposure in China, counterparty credit risk, and the possibility of higher costs reducing profitability and limiting dividends.
Performance Shipping Inc. has secured long-term employment for its two 158,000 dwt Suezmax newbuilding tankers with Repsol Trading S.A. The first vessel is fixed for seven years at a daily rate of US$35,000, and the second for five years at US$36,850, both payable monthly in advance and commencing upon delivery in October 2028 and May 2029.
The company states that revenues from these charters will cover the majority of the vessels’ acquisition cost and increase total fleetwide contracted revenue to about US$471 million from US$317 million, based on minimum charter durations as of early April 2026. Average contract duration is now 2.8 years, with contracted days at 89.5% for 2026 and gradually declining through 2030, giving the company greater earnings visibility and reducing the breakeven charter rate on remaining open days.