Performance Shipping extends charter, sells tanker

Performance Shipping Inc., a tanker vessel owner, reports two fleet developments.

(Neutral)

Form Type

6-K

Rhea-AI Filing Summary

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.

Positive

Extension of the M/T Blue Moon time charter for 24 months at an average rate of US$40,500 per day is expected to generate approximately US$29 million in gross revenue and raises contracted revenue backlog to over US$530 million, with charter coverage near 90% through 2028.
Sale of Aframax tanker M/T P. Sophia for US$35.65 million, about 30% above its approximately US$27.6 million acquisition price, was completed debt-free and is described as strengthening liquidity and reducing pro forma average fleet age to about six years.

Negative

None.

Filing Explained

The July 15 Form 6-K also incorporates most of its information into specified effective F-3 registration statements, updating the registered disclosure; it does not report an issuance or sale of securities.

Key Figures

Average charter rate: US$40,500 per day Expected charter revenue: approximately US$29 million Contracted revenue backlog: over US$530 million +5 more

8 metrics

Average charter rate US$40,500 per day Two-year extension of M/T Blue Moon charter with American Eagle Tankers

Expected charter revenue approximately US$29 million Gross revenue expected from minimum duration of extended M/T Blue Moon charter

Contracted revenue backlog over US$530 million Backlog as of mid-2026 after charter extension, based on minimum charter durations

Charter coverage through 2028 approaches 90% Proportion of fleet charter coverage through the end of 2028

Charter coverage for 2029 approximately 60% Proportion of fleet charter coverage for 2029

Sale price of M/T P. Sophia US$35.65 million Gross sale price for 2009-built Aframax tanker delivered to new owners

Acquisition price of M/T P. Sophia approximately US$27.6 million Gross purchase price paid in the third quarter of 2022

Increase above acquisition price approximately 30% Management-stated increase of sale price over the vessel’s acquisition price

Key Terms

time charter, Aframax, drydock, contracted revenue backlog, +1 more

5 terms

time charter financial

"extended the existing time charter contract with American Eagle Tankers"

A time charter is an agreement where a ship owner rents out their vessel to a customer for a set period, during which the customer has control over the ship’s use and operation. This arrangement matters to investors because it provides a steady income stream for the ship owner and indicates ongoing demand for shipping services, reflecting the health of global trade and transportation markets.

Aframax technical

"for the 2011-built, 104,623 dwt Aframax tanker vessel, M/T Blue Moon"

Aframax is a category of oil tanker sized to carry roughly 80,000–120,000 metric tons of cargo; think of it as the mid-size delivery truck of crude oil shipping. It matters to investors because the number and condition of Aframax ships a company owns, and the demand for their services, directly affect freight revenue, operating costs and exposure to shifts in global oil transport and shipping rates — similar to how a fleet of mid-size trucks shapes a logistics business.

drydock technical

"M/T Blue Moon is scheduled to undergo its planned drydock"

A drydock is a controlled facility where a ship or offshore structure is lifted out of the water so workers can inspect, repair, clean or upgrade parts that are normally submerged. For investors, drydocking matters because it causes planned downtime, short-term loss of revenue and maintenance costs but can extend a vessel’s life, ensure regulatory compliance and prevent costly breakdowns—similar to taking a commercial truck into a garage for major servicing.

contracted revenue backlog financial

"our contracted revenue backlog increases to over US$530 million"

Contracted revenue backlog is the total value of sales or service agreements a company has signed but has not yet recorded as revenue because the work or delivery is still pending. It matters to investors because it shows future revenue that is already committed—like a schedule of booked appointments—helping gauge near-term cash flow and growth visibility, though timing and collectability can vary by contract terms.

fleet renewal strategy financial

"represents another important step in our fleet renewal strategy"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What charter extension did Performance Shipping (PSHG) secure for M/T Blue Moon?

Performance Shipping extended M/T Blue Moon’s time charter with American Eagle Tankers for 24 months plus or minus 15 days at gross rates of US$43,000 per day in year one and US$38,000 per day in year two, averaging US$40,500 per day over the term.

How much revenue is PSHG expecting from the M/T Blue Moon charter extension?

The company expects the extended M/T Blue Moon charter to generate approximately US$29 million in gross revenue over the minimum duration. The charter is scheduled to begin after the vessel’s planned drydock, with the extended period expected to commence by the end of 2026.

What is Performance Shipping’s (PSHG) contracted revenue backlog and charter coverage after this charter deal?

Management states that contracted revenue backlog has increased to over US$530 million as of mid-2026. Based on minimum charter durations, charter coverage approaches 90% through the end of 2028 and remains approximately 60% for 2029, improving cash flow visibility.

What are the key terms of Performance Shipping’s (PSHG) sale of M/T P. Sophia?

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. The vessel was acquired in the third quarter of 2022 for approximately US$27.6 million, implying a sizeable uplift.

How did the M/T P. Sophia sale impact PSHG’s returns and fleet profile?

The chief executive notes the sale price represents an increase of approximately 30% over the vessel’s acquisition price. The transaction is described as strengthening liquidity and supporting the company’s fleet renewal strategy, reducing pro forma average fleet age to about six years.

When is the extended charter for M/T Blue Moon expected to start for PSHG?

The extended time charter for M/T Blue Moon is expected to commence directly after the vessel completes its planned drydock, with the new charter period anticipated to begin by the end of 2026. This timing follows the completion of the vessel’s current charter commitment.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 07/15/2026 - 04:15 PM Accepted by SEC EDGAR 07/15/2026 - 04:15 PM

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

For the month of July 2026

Commission File Number: 001-35025

PERFORMANCE SHIPPING INC.

(Translation of registrant's name into English)

373 Syngrou Avenue

175 64 Palaio Faliro

Athens, Greece

(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

Form 20-F ☒ Form 40-F ☐

INFORMATION CONTAINED IN THIS FORM 6-K REPORT

Attached to this report (this “Report”) on Form 6-K as Exhibit 99.1 is a copy of the press release of Performance Shipping Inc. (the “Company”) dated July 14, 2026, titled “Performance Shipping Inc. Extends Time Charter for Aframax Tanker M/T Blue Moon for Two Years at the Average Rate of US$40,500 per Day.”

Attached to this Report on Form 6-K as Exhibit 99.2 is a copy of the press release of the Company dated July 15, 2026, titled “Performance Shipping Inc. Announces Completion of Sale and Delivery of M/T P. Sophia to New Owners.”

The information contained in this Report on Form 6-K, excluding the statement in Exhibit 99.1 attributed to the Company’s Chief Executive Officer, is hereby incorporated by reference into the Company’s registration statement on Form F-3 (File No. 333-197740), filed with the U.S. Securities and Exchange Commission (the “SEC”) with an effective date of August 13, 2014, the Company’s registration statement on Form F-3 (File No. 333-266946), filed with the SEC with an effective date of August 29, 2022, and the Company’s registration statement on Form F-3 (File No. 333- 295541), filed with the SEC with an effective date of May 21, 2026.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	PERFORMANCE SHIPPING INC.
	(Registrant)

Dated: July 15, 2026	/s/ Andreas Michalopoulos
	By: Andreas Michalopoulos
	Chief Executive Officer

Exhibit 99.1

	Corporate Contact:
	Andreas Michalopoulos
	Chief Executive Officer, Director and Secretary
	Telephone: +30-216-600-2400
	Email: amichalopoulos@pshipping.com
	Website: www.pshipping.com
For Immediate Release
	Investor and Media Relations:
	Edward Nebb
	Comm-Counsellors, LLC
	Telephone: + 1-203-972-8350
	Email: enebb@optonline.net

Performance Shipping Inc. Extends Time Charter for Aframax Tanker M/T Blue Moon for Two Years at the Average Rate of US$40,500 per Day

ATHENS, GREECE, July 14, 2026 — 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 wholly-owned subsidiary, it has extended the existing 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 charter has been extended for a period of twenty-four (24) months +/– 15 days at the option of the Charterer at an average gross charter rate of US$43,000 per day for the first year and US$38,000 per day for the second year, representing an average gross charter rate of US$40,500 per day over the two-year period. Upon completion of the vessel’s current charter period, the M/T Blue Moon is scheduled to undergo its planned drydock. The extended charter period is expected to commence directly thereafter, by the end of 2026.

The charter extension is expected to generate approximately US$29 million of gross revenue for the minimum duration of the extended charter period.

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

“The extension of the M/T Blue Moon’s charter with AET highlights the value of our long-standing commercial partnerships and the trust our counterparties place in our operational performance and fleet quality. Securing a two-year charter extension at an average rate of US$40,500 per day, compared with the vessel’s previous applicable rate of US$28,000 per day, demonstrates our ability to capitalize on favorable market conditions while continuing to strengthen our relationships with leading charterers.

“This new time charter arrangement further enhances the predictability of our future cash flows, with our charter coverage effectively maximized through late 2027, when the next vessel in our fleet is scheduled for redelivery. Following this charter extension and based on the minimum durations of our existing charters, our contracted revenue backlog increases to over US$530 million as of mid-2026. Our charter coverage now approaches 90% through the end of 2028 and remains approximately 60% for 2029, providing strong cash flow visibility and further strengthening the foundation for disciplined and sustainable growth.”

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.

Cautionary Statement Regarding Forward-Looking Statements

Matters discussed in this press release may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business. Forward-looking statements include, but are not limited to, statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts including with respect to employment of our fleet and vessel deliveries. The words “believe," “anticipate," “intends," “estimate," “forecast," “project," “plan," “potential," “will," “may," “should," “expect," “targets," “likely," “would," “could," “seeks," “continue," “possible," “might," “pending” and similar expressions, terms or phrases may identify forward-looking statements.

The forward-looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including, without limitation, our management’s examination of historical operating trends, data contained in our records and other data available from third parties. Although we believe that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond our control, we cannot assure you that we will achieve or accomplish these expectations, beliefs, or projections.

In addition to these important factors, other important factors that, in our view, could cause actual results to differ materially from those discussed in the forward-looking statements include, but are not limited to: the strength of world economies, fluctuations in currencies and interest rates, general market conditions, including fluctuations in charter rates and vessel values, changes in demand in the tanker shipping industry, changes in the supply of vessels, changes in worldwide oil production and consumption and storage, changes in our operating expenses, including bunker prices, crew costs, drydocking and insurance costs, our future operating or financial results, availability of financing and refinancing including with respect to vessels we agree to acquire, changes in governmental rules and regulations or actions taken by regulatory authorities, potential liability from pending or future litigation, general domestic and international political conditions, the length and severity of epidemics and pandemics, including COVID-19, and their impact on the demand for seaborne transportation of petroleum and other types of products, general domestic and international political conditions or events, including “trade wars”, armed conflicts including the war in Ukraine and the war in the Middle East, the imposition of new international sanctions, acts by terrorists or acts of piracy on ocean-going vessels, potential disruption of shipping routes due to accidents, labor disputes or political events, vessel breakdowns and instances of off-hires and other important factors. Please see our filings with the US Securities and Exchange Commission for a more complete discussion of these and other risks and uncertainties.

Exhibit 99.2

	Corporate Contact:
	Andreas Michalopoulos
	Chief Executive Officer, Director and Secretary
	Telephone: +30-216-600-2400
	Email: amichalopoulos@pshipping.com
	Website: www.pshipping.com
For Immediate Release
	Investor and Media Relations:
	Edward Nebb
	Comm-Counsellors, LLC
	Telephone: + 1-203-972-8350
	Email: enebb@optonline.net

Performance Shipping Inc. Announces Completion of Sale and Delivery of M/T P. Sophia to New Owners

ATHENS, GREECE, July 15, 2026 — Performance Shipping Inc. (NASDAQ: PSHG) (“Performance Shipping” 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 2009-built, 105,071 dwt Aframax tanker vessel M/T P. Sophia, with the successful delivery of the vessel to her new owners. The M/T P. Sophia was debt-free at the time of her delivery to the new owners.

As previously announced on February 17, 2026, the gross sale price of the vessel was US$35.65 million. The Company acquired the M/T P. Sophia in the third quarter of 2022 for a gross purchase price of approximately US$27.6 million.

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

“The completion of this vessel sale, capitalizing on strong asset values, represents another important step in our fleet renewal strategy. This sale represents an increase of approximately 30% above the vessel’s acquisition price paid four years ago and further strengthens our liquidity position. Together with our recent corporate developments, this transaction reduces our pro forma average fleet age to approximately six years.”

About the Company

Cautionary Statement Regarding Forward-Looking Statements

Source: View Original Filing on SEC EDGAR

Filing Exhibits & Attachments

2 documents