Welcome to our dedicated page for Performance Shipping SEC filings (Ticker: PSHG), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
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. director and CEO Andreas Michalopoulos reports indirect holdings of preferred and common equity. Through Mitzela Corp., he is associated with Series C Preferred Shares convertible into 1,039,979 common shares and 420 common shares. His spouse, via Mango Shipping Corp., is associated with Series C Preferred Shares convertible into 24,268,863 common shares and 280 common shares. The Series C Preferred Shares are convertible at any time at the holder’s option, with each share convertible into common stock based on a $25.00 preference plus accrued dividends divided by a conversion price of $1.3576 per common share, and they have no expiration date.
Performance Shipping Inc. director Papageorgiou Papadopoulos Alexandros filed an initial Form 3, which is a statement of beneficial ownership for company insiders. The filing shows no reported purchases, sales, exercises, gifts, or other transactions in the issuer’s securities at this time.
Performance Shipping Inc. director Boutaris Michail has filed a Form 3 insider ownership report for issuer ticker PSHG. The filing lists him as a director and shows no reported transactions or equity or derivative holdings in the provided data.
Performance Shipping Inc. has entered a sale and leaseback agreement for its LR1 newbuilding tanker M/T P. San Francisco, now under construction in China and due in early 2027. The deal provides bareboat financing of US$37.8 million, repaid over a ten-year bareboat charter at about US$5,451 per day, plus a final balloon payment of roughly US$18.1 million.
The company keeps long-term control of the vessel and holds continuous options to repurchase it after the second charter year. Management states this financing equals about 70% of the vessel’s contract price and targets a cashflow breakeven of US$22,200 per day. The tanker is already fixed to Mercuria Energy Trading S.A. for a firm four-year charter at US$23,750 per day, with options for up to three additional years, supporting the fleet renewal and balanced leverage strategy.
Sphinx Investment Corp., Maryport Navigation Corp. and George Economou filed Amendment No. 13 to their Schedule TO to update the previously disclosed tender offer to purchase all issued and outstanding common shares of Performance Shipping Inc. for $3.00 per share in cash, less applicable withholding, pursuant to the Amended and Restated Offer to Purchase and related documents. The filing states the Offer includes the associated preferred stock purchase rights. The reporting persons disclose beneficial ownership of 1,033,859 shares, equal to 8.3% based on 12,432,158 shares outstanding as of November 24, 2025. The amendment adds a press release filed as Exhibit (a)(1)(W) dated March 16, 2026.
Performance Shipping Inc. reported net income of $7.6M for Q4 2025, down from $9.7M a year earlier, as higher operating, depreciation and finance costs offset revenue growth. Q4 revenue rose to $26.2M from $21.7M, helped by more ownership days after adding the newbuild tankers P. Massport and P. Tokyo.
For full-year 2025, net income increased to $50.0M from $43.7M, with basic EPS of $3.87. Revenue for 2025 was $84.2M, slightly below $87.4M in 2024, while the average TCE rate eased to $31,246 from $32,954. Fleet utilization remained high at 98.6%.
The company highlighted a revenue backlog of about $350M, with fixed charter coverage of roughly 88% for 2026 and 72% for 2027, supported by new Suezmax and LR2 charters. Year-end 2025 cash, cash equivalents and restricted cash were $49.3M, and long-term debt stood at $222.3M. Management also warned that recent military conflict involving Iran and potential disruption of the Strait of Hormuz could significantly affect tanker shipping; one vessel is currently operating in the Persian Gulf.
Performance Shipping Inc. reports that it has signed two shipbuilding contracts for 158,000 DWT Suezmax tanker vessels with China Shipbuilding Trading and Shanghai Waigaoqiao Shipbuilding. Each vessel has a contract price of US$81.5 million and is scheduled for delivery in October 2028 and May 2029.
The company outlines staged payments: 15% of the price after receipt of a refund guarantee, 10% at each of steel cutting, keel laying and launching, and the remaining 55% on delivery. Management describes the move as doubling its Suezmax exposure and highlights expectations for favorable long-term market fundamentals and modern, fuel-efficient, environmentally compliant designs.
Performance Shipping Inc. has agreed to sell its oldest vessel, the 2009-built, 105,071 dwt Aframax tanker M/T P. Sophia, for a gross price of US$35.65 million to an unaffiliated buyer. The vessel is expected to be delivered to the new owners in mid-2026, subject to customary closing conditions.
The M/T P. Sophia currently serves as part of the collateral for the company’s outstanding Nordic bond, and net sale proceeds will be applied under the bond agreement terms. Performance Shipping acquired the vessel in the third quarter of 2022 for US$27,577,320 and expects an approximate gain of US$8 million compared to the acquisition price.
Management explains that selling the oldest ship aligns with its fleet renewal strategy, reducing the fleet’s average age and supporting operational efficiency and commercial competitiveness. The company will continue operating the vessel at a charter rate of US$43,000 per day until the charter concludes in or around late May 2026, helping support cash flow ahead of delivery.
Sphinx Investment Corp., together with Maryport Navigation Corp. and George Economou, filed Amendment No. 12 updating their tender offer for all common shares of Performance Shipping Inc. (PSHG).
The offer remains at $3.00 in cash per share, without interest and less applicable withholding taxes, for all issued and outstanding common shares, including associated preferred stock purchase rights. The amendment mainly refreshes disclosure and adds a new exhibit, a press release dated February 11, 2026, while incorporating all prior offer documents and terms.
The filing also reiterates that Sphinx, through its ownership structure, beneficially owns 1,033,859 common shares, representing 8.3% of the class, based on 12,432,158 shares outstanding as of November 24, 2025, as reported by the company.
Performance Shipping Inc. has secured a new three-year time charter for its Aframax tanker M/T P. Monterey with PBF Holding Company LLC, a subsidiary of PBF Energy Inc. The contract, for a 105,525 dwt tanker built in 2011, carries a gross rate of US$31,000 per day for three years plus or minus 30 days at the charterer’s option.
The charter is expected to start in mid-February and is projected to generate approximately US$33 million in gross revenue over the minimum term. Management states that this agreement increases the company’s fleetwide revenue backlog to a record level of about US$349 million as of January 1, 2026, supporting its strategy of focusing on medium- and long-term time charters that provide steadier cash flow and renewal opportunities.