Debt costs fall as Performance Shipping (NASDAQ: PSHG) extends Nordea loan

Rhea-AI Filing Summary

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.

Key Figures

Interest margin before amendment: 2.50% per annum Interest margin after amendment: 1.60% per annum Facility maturity term: 4 years +1 more

4 metrics

Interest margin before amendment 2.50% per annum Margin on Nordea secured loan facility before supplemental agreement

Interest margin after amendment 1.60% per annum Revised margin on Nordea secured loan facility

Facility maturity term 4 years Maturity from effective date of supplemental agreement

Bank debt maturities horizon Mid-2030 No bank debt maturities scheduled before this time, per CEO comment

Key Terms

secured loan facility, margin, maturity, forward-looking statements, +2 more

6 terms

secured loan facility financial

"amending its existing secured loan facility dated August 4, 2023"

A secured loan facility is a line of credit or loan backed by specific company assets—such as property, equipment, or accounts receivable—that the lender can claim if the borrower fails to repay. For investors, it matters because secured borrowing usually lowers a company’s borrowing cost and gives lenders priority if trouble occurs, affecting the company’s financial flexibility and the relative safety of different claims on its cash and assets.

margin financial

"the margin applicable to the facility has been reduced from 2.50% per annum to 1.60% per annum"

maturity financial

"the maturity of the facility has been extended to four years from the effective date"

Maturity is the date when a loan, bond, deposit or other financial contract must be repaid or settles, like an expiration date on a coupon or loan. It matters to investors because it determines when they will get their principal back, how much interest they will have earned, and how exposed their money is to interest-rate or reinvestment risk—similar to knowing when a timed savings jar will be opened and what you can do next.

forward-looking statements regulatory

"Matters discussed in this press release may constitute forward-looking statements"

Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.

safe harbor protections regulatory

"The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements"

time charters financial

"The Company employs its fleet on spot voyages, through pool arrangements, and on time charters"

Time charters are contracts in which a ship owner rents a vessel to a renter for a set period of time; the renter directs where the ship goes and pays for fuel and voyage costs, while the owner provides the crew and handles maintenance. Investors care because time charters turn uncertain spot-market sales into more predictable revenue and cash flow, reducing near-term exposure to volatile freight rates—like renting a truck for months instead of selling single deliveries.

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Form 6-K: How Foreign Companies Report to the SEC →

Available on EDGAR 07/08/2026 - 04:08 PM Accepted by SEC EDGAR 07/08/2026 - 04:08 PM Learn about SEC filing dates

FAQ

What did Performance Shipping Inc. (PSHG) announce in this 6-K filing?

Performance Shipping Inc. announced an amendment to its secured loan facility with Nordea Bank. The deal extends the facility’s maturity to four years from the supplemental agreement’s effective date and lowers the annual interest margin, improving key financing terms while keeping the principal amount unchanged.

How did the Nordea facility terms change for Performance Shipping Inc. (PSHG)?

The maturity of the Nordea secured loan facility was extended to four years from the supplemental agreement’s effective date. The interest margin was reduced from 2.50% per annum to 1.60% per annum, lowering borrowing costs without altering the outstanding principal balance.

Does the amended Nordea facility change Performance Shipping’s outstanding debt level?

No, the amendment relates only to the terms of the existing Nordea facility and does not change the outstanding principal amount of the loan. The facility remains secured and guaranteed by Performance Shipping Inc., keeping the overall debt balance the same.

What does the Nordea facility extension mean for PSHG’s debt maturities?

Management states that, with this extension, Performance Shipping now has no bank debt maturities scheduled prior to mid-2030. This pushes near-term refinancing pressures further out, which can support planning for operations, fleet employment, and potential future investments.

Who is Performance Shipping Inc. and what is its core business?

Performance Shipping Inc. is a global provider of shipping transportation services focused on tanker vessels. The company employs its fleet on spot voyages, through pool arrangements, and on time charters, providing flexibility in how it earns revenue from its tanker fleet worldwide.

Does the 6-K filing for PSHG include forward-looking statements?

Yes, the accompanying press release contains forward-looking statements about plans, strategies, fleet employment, and market conditions. The company highlights risks such as economic trends, tanker market changes, financing availability, political events, and pandemics that could cause actual results to differ materially.

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 8, 2026, titled “Performance Shipping Inc. Secures Substantially Improved Terms and Extension of Existing Nordea Bank Facility.”

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 8, 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. Secures Substantially Improved Terms and Extension of Existing Nordea Bank Facility

ATHENS, GREECE, July 8, 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 two of its wholly-owned subsidiaries, it has entered into a first supplemental agreement with Nordea Bank Abp NUF (“Nordea”), amending its existing secured loan facility dated August 4, 2023.

Pursuant to the amendment, the maturity of the facility has been extended to four years from the effective date of the supplemental agreement. In addition, the margin applicable to the facility has been reduced from 2.50% per annum to 1.60% per annum. The amendment relates solely to the terms of the existing facility and does not change the outstanding principal amount of the loan.

The facility remains secured and guaranteed by the Company.

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

“We are pleased to further strengthen our financing profile through this favorable amendment with Nordea. The extended maturity, combined with the reduced borrowing margin, meaningfully enhances our financial flexibility while reducing our cost of capital. This transaction underscores the strength of our long-standing relationship with Nordea and its continued support and confidence in our business. With the extension of this facility's maturity by two years, the Company now has no bank debt maturities scheduled prior to mid-2030, further reinforcing our strong balance sheet and enhancing our long-term liquidity profile.”

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.

Filing Exhibits & Attachments

1 document

Press Releases

• EX-99.1 EXHIBIT 99.1 10.9 KB