Performance Shipping Inc.
- Market Cap (Float-Adj) (Float-adjusted market cap computed by the low-float screener — matches the screener row. May differ from the standard cap (price × all shares outstanding) reported elsewhere.)
- $20.6M
- Price
- $1.66
- % Change (Daily % change from the live per-ticker quote feed.)
- -2.35%
- Volume
- 47.6K
About
Performance Shipping Inc. delivers global maritime transportation solutions through its subsidiaries, primarily by owning and operating a fleet of tanker vessels. The company currently possesses five Aframax tanker vessels, which collectively offer a significant carrying capacity of 546,094 deadweight tons (dwt). Established in 2010, its headquarters are located in Athens, Greece.
Quick stats
Shares outstanding12.4M
Computed float11.4M
Float / shares91.7%
Key info
SectorIndustrials
IndustryMarine Shipping
CIK (Central Index Key — the unique ID the SEC assigns to every filer. Use it to look up the company's filings on EDGAR.)0001481241
Websitehttps://www.pshipping.com
AI Summary
AI-generated1/14
minorbullishoperations update
Performance Shipping Inc. Announces Completion of Sale and Delivery of M/T P. Aliki to New Owners
Performance Shipping completed the sale and delivery of the 2010-built, 105,304 dwt Aframax tanker M/T P. Aliki to her new owners at a previously announced gross price of US$42.65 million.
The vessel was delivered debt-free following a roughly US$12.8 million prepayment to Alpha Bank in July 2026, leaving estimated net proceeds of approximately US$30 million.
Bought in Q4 2022 for US$36.5 million, the tanker was operated profitably for about four years and has now been monetized at historically high asset values.
Management says the net proceeds, together with existing liquidity, almost fully cover remaining newbuilding commitments, with the first LR1 due in early 2027 and two Suezmaxes in late 2028 and early 2029.
Red flags
- Fleet is one tanker smaller until the first LR1 newbuilding arrives in early 2027, creating a near-term earning capacity gap
- Net proceeds figure (~US$30M) is an estimate; newbuilding commitments will consume nearly all proceeds plus existing liquidity