Performance Shipping

Performance Shipping, Inc. engages in the provision of shipping transportation services through its ownership of containerships. Its vessels are employed on time charters with liner companies carrying containerized cargo along worldwide shipping routes. The firm operates through the following segments: Tankers Vessels and Containers Vessels. Its fleet includes the following vessels: Sagitta, CEntaurus, New Jersey, Pamina, Domingo, Puelo, Pucon, March, Great, Hamburg, and Rotterdam. The company was founded on January 7, 2010 and is headquartered in Athens, Greece.

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ATHENS, Greece, March 02, 2022 (GLOBE NEWSWIRE) -- Performance Shipping Inc. (NASDAQ: PSHG), (the “Company”), a global shipping company specializing in the ownership of tanker vessels, announced today that the Company's Annual General Meeting of Shareholders (the “Meeting”) was duly held on February 28, 2022, in Athens, Greece, pursuant to a Notice of Annual Meeting of Shareholders dated February 3, 2022. Broadridge Financial Solutions, Inc. acted as inspector of the Meeting.

Performance Shipping Inc. Announces Results of 2022 Annual General Meeting of Shareholders

Performance Shipping Inc. (PSHG) delivered earnings and revenue surprises of -5.13% and 7.75%, respectively, for the quarter ended December 2021. Do the numbers hold clues to what lies ahead for the stock?

Performance Shipping Inc. (PSHG) Reports Q4 Loss, Tops Revenue Estimates

ATHENS, Greece, Feb. 25, 2022 (GLOBE NEWSWIRE) -- Performance Shipping Inc. (NASDAQ: PSHG) (the “Company”), a global shipping company specializing in the ownership of tanker vessels, today reported a net loss from continuing and discontinued operations attributable to common stockholders of $2.1 million for the fourth quarter of 2021, compared to a net loss from continuing and discontinued operations attributable to common stockholders of $2.5 million for the same period in 2020. Loss per share, basic and diluted, for the fourth quarter of 2021 and 2020 was $0.41 and $0.51, respectively.

Performance Shipping Inc. Reports Financial Results for the Fourth Quarter and Year Ended December 31, 2021

ATHENS, Greece, Feb. 04, 2022 (GLOBE NEWSWIRE) -- Performance Shipping Inc. (NASDAQ: PSHG), (the “Company”), a global shipping company specializing in the ownership of tanker vessels, announced today the final results of its previously announced offer to exchange up to 4,066,181 of its currently issued and outstanding common shares, par value $0.01 per share (the “Common Shares”), for newly issued shares of the Company's Series B Convertible Cumulative Perpetual Preferred Stock, par value $0.01 and liquidation preference $25.00 (the “Series B Preferred Shares”) at a ratio of 0.28 Series B Preferred Shares for each Common Share (the “Exchange Offer”). The Exchange Offer expired at 5:00 p.m., New York City time, on Thursday, January 27, 2022, and the Company announced preliminary results of the Exchange Offer on January 28, 2022.

Performance Shipping Inc. Announces The Final Results Of Its Offer To Exchange Up To 4,066,181 Common Shares For Shares Of Series B Convertible Cumulative Perpetual Preferred Stock

ATHENS, Greece, Jan. 28, 2022 (GLOBE NEWSWIRE) -- Performance Shipping Inc. (NASDAQ: PSHG), (the “Company”), a global shipping company specializing in the ownership of tanker vessels, announced today the preliminary results of its previously announced offer to exchange up to 4,066,181 of its currently issued and outstanding common shares of the Company, par value $0.01 per share (the “Common Shares”), for newly issued shares of the Company's Series B Convertible Cumulative Perpetual Preferred Stock, par value $0.01 and liquidation preference $25.00 (the “Series B Preferred Shares”) at a ratio of 0.28 Series B Preferred Shares for each Common Share (the “Exchange Offer”). The Exchange Offer expired at 5:00 p.m., New York City time, on Thursday, January 27, 2022.

Performance Shipping Inc. Announces the Preliminary Results of Its Offer to Exchange up to 4,066,181 Common Shares for Shares of Series B Convertible Cumulative Perpetual Preferred Stock

ATHENS, Greece, Jan. 21, 2022 (GLOBE NEWSWIRE) -- Performance Shipping Inc. (NASDAQ: PSHG), (the “Company”), a global shipping company specializing in the ownership of tanker vessels, announced today that its Board of Directors (the “Board”) has scheduled the Company's 2022 annual general meeting of shareholders (the “2022 AGM”) for February 28, 2022. The Board has set a record date for the 2022 AGM of January 25, 2022.

Performance Shipping Inc. Announces Date for its 2022 Annual General Meeting of Shareholders and Proposed Changes to Board of Directors

ATHENS, Greece, Jan. 12, 2022 (GLOBE NEWSWIRE) -- Performance Shipping Inc. (NASDAQ: PSHG), (the “Company”), a global shipping company specializing in the ownership of tanker vessels, announced today that it has extended the expiration date of its offer to exchange up to 4,066,181 of its currently issued and outstanding common shares of the Company, par value $0.01 per share (the “Common Shares”), for newly issued shares of the Company's Series B Convertible Cumulative Perpetual Preferred Stock, par value $0.01 and liquidation preference $25.00 (the “Series B Preferred Shares”) at a ratio of 0.28 Series B Preferred Shares for each Common Share. The extended expiration date of the offer to exchange is 5:00 p.m., New York City time, on January 27, 2022, unless the offer is extended or withdrawn. The full terms and conditions of the offer to exchange are discussed in the Offer to Exchange, as amended and restated on January 12, 2022 (the “Offer to Exchange”), and the related Letter of Transmittal and other materials relating to the Offer to Exchange (each as amended), contained in the Company's tender offer statement on Schedule TO, as amended, which has been filed with the U.S. Securities and Exchange Commission (the “SEC”) and which has, or will be, distributed to shareholders.

Performance Shipping Inc. Announces Extension of Its Offer to Exchange up to 4,066,181 Common Shares for Shares of Series B Convertible Cumulative Perpetual Preferred Stock

ATHENS, Greece, Dec. 20, 2021 (GLOBE NEWSWIRE) -- Performance Shipping Inc. (NASDAQ: PSHG), (the “Company”), a global shipping company specializing in the ownership of tanker vessels, announced today the commencement of an offer to exchange up to 4,066,181 of its currently issued and outstanding common shares of the Company, par value $0.01 per share (the “Common Shares”), for newly issued shares of the Company's Series B Convertible Cumulative Perpetual Preferred Stock, par value $0.01 and liquidation preference $25.00 (the “Series B Preferred Shares”) at a ratio of 0.28 Series B Preferred Shares for each Common Share. The exchange offer will expire at the end of the day, 5:00 P.M., New York City Time, on January 21, 2022, unless extended or withdrawn.

Performance Shipping Inc. Commences Offer to Exchange Up to 4,066,181 Common Shares for Shares of Series B Convertible Cumulative Perpetual Preferred Stock

ATHENS, Greece, Dec. 20, 2021 (GLOBE NEWSWIRE) -- Performance Shipping Inc. (NASDAQ: PSHG), (the “Company”), a global shipping company specializing in the ownership of tanker vessels, announced today that its Board of Directors has unanimously adopted a shareholders' rights agreement (the “Rights Agreement”) and declared a dividend of one right (the “Right”) for each share of the Company's common stock, par value $0.01 per share (the “Common Stock”) held as of December 30, 2021. The Rights Agreement has a term of ten years.

Performance Shipping Inc. Adopts Shareholders' Rights Agreement

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Should a public shipping company be a pure play — owning just tankers, containers, bulkers or gas carriers — or should it do as the traditional private family shipowners do, and own a mixed fleet? The answer is important: It affects how attractive a shipping stock is to investors, and in the case of extreme rate troughs, it affects the chances a public company can avoid restructuring or insolvency.

Shipping on Wall Street: Is it better to be a pure play or jack of all trades?

ATHENS, Greece, Nov. 09, 2021 (GLOBE NEWSWIRE) -- Performance Shipping Inc. (NASDAQ: PSHG) (the “Company”), a global shipping company specializing in the ownership of tanker vessels, today reported a net loss from continuing and discontinued operations attributable to common stockholders of $2.2 million for the third quarter of 2021, compared to net income from continuing and discontinued operations attributable to common stockholders of $0.4 million for the same period in 2020. Loss per share, basic and diluted, for the third quarter of 2021 was $0.43, while earnings per share, basic and diluted, for the third quarter of 2020 was $0.08.

Performance Shipping Inc. Reports Financial Results for the Third Quarter and Nine Months Ended September 30, 2021

Performance Shipping Inc. (PSHG) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

Analysts Estimate Performance Shipping Inc. (PSHG) to Report a Decline in Earnings: What to Look Out for

ATHENS, Greece, July 30, 2021 (GLOBE NEWSWIRE) -- Performance Shipping Inc. (NASDAQ: PSHG) (the “Company”), a global shipping company specializing in the ownership of tanker vessels, today reported a net loss and net loss from continuing and discontinued operations attributable to common stockholders of $2.6 million for the second quarter of 2021, compared to net income and net income from continuing and discontinued operations attributable to common stockholders of $4.6 million for the same period in 2020. Loss per share, basic and diluted, for the second quarter of 2021 was $0.53, while earnings per share, basic and diluted, for the second quarter of 2020 was $0.94.

Performance Shipping Inc. Reports Financial Results for the Second Quarter and Six-Months Ended June 30, 2021

Earnings Preview: Performance Shipping Inc. (PSHG) Q2 Earnings Expected to Decline

ATHENS, Greece, June 28, 2021 (GLOBE NEWSWIRE) -- Performance Shipping Inc. (NASDAQ: PSHG), (the “Company”), a global shipping company specializing in the ownership of tanker vessels, announced today that the Company's Chief Financial Officer, Anthony Argyropoulos, has been invited to present at the Future of Shipping Virtual Conference , presented by Maxim Group LLC and hosted by M-Vest, on Tuesday, June 29, 2021.

Performance Shipping Inc. to Participate in Future of Shipping Virtual Conference Presented by Maxim Group LLC and Hosted by M-Vest on June 29, 2021

ATHENS, Greece, May 26, 2021 (GLOBE NEWSWIRE) -- Performance Shipping Inc. (NASDAQ: PSHG), (the “Company”), a global shipping company specializing in the ownership of tanker vessels, today announced that Anthony Argyropoulos, Chief Financial Officer, will participate in the 14th Annual Wolfe Research Global Transportation & Industrials Conference in the Tanker and Bulker panel on Thursday, May 27, 2021, at 8:25 a.m. ET. A webcast will be available at the following link: Tanker & Bulker Panel

Performance Shipping Inc. to Participate in Wolfe Research Global Transportation & Industrials Conference

The stock price of Performance Shipping Inc. (NASDAQ: PSHG) decreased by over 6% during intraday trading. This is why it happened.

Performance Shipping (PSHG) Stock: Over 6% Decrease Explanation

ATHENS, Greece, May 20, 2021 (GLOBE NEWSWIRE) -- Performance Shipping Inc. (NASDAQ: PSHG) (the “Company”), a global shipping company specializing in the ownership of tanker vessels, today reported net loss and net loss from continuing and discontinued operations attributable to common stockholders of $2.9 million for the first quarter of 2021, compared to net income and net income from continuing and discontinued operations attributable to common stockholders of $1.3 million and $2.8 million, respectively, for the same period in 2020. Loss per share for the first quarter of 2021 was $0.57, while earnings per share for the first quarter of 2020 was $0.60 (basic) and $0.58 (diluted).

Performance Shipping Inc. Reports Financial Results for the First Quarter Ended March 31, 2021

ATHENS, Greece, April 21, 2021 (GLOBE NEWSWIRE) -- Performance Shipping Inc. (NASDAQ: PSHG), (the “Company”), a global shipping company specializing in the ownership of tanker vessels, today announced the release of its inaugural Sustainability Report (the “Report”) highlighting how the Company addresses Environmental, Social and Governance (“ESG”) issues as part of its ongoing effort to increase transparency and accountability. The Report, developed around the UN Sustainable Development Goals (“UN SDGs”) and in accordance with the Global Reporting Initiative Standards, outlines the Company's commitments and efforts toward building strong corporate governance and to operating sustainably and responsibly. The Report, which covers the full year 2020, includes a Materiality Assessment identifying the topics that are most important to our stakeholders and presents extensive information about the Company's activities and how it intends to progress towards sustainable growth.

Performance Shipping Inc. Issues Inaugural Sustainability Report

Small Aframax tanker operator is facing substantial headwinds with the charter environment still weak and 60% of its fleet scheduled for five-year special surveys later this year. Cash flow from operations likely to turn negative by an estimated $10 million due to the weak charter rate environment and elevated special survey costs.

Performance Shipping: Aggressive Fleet Expansion Targets Likely To Result In Material Dilution Again

ATHENS, Greece, March 30, 2021 (GLOBE NEWSWIRE) -- Performance Shipping Inc. (NASDAQ: PSHG), (the “Company”), a global shipping company specializing in the ownership of tankers, today announced that H.C. Wainwright & Co. has initiated analyst coverage of the Company with a “Buy” rating and US$11.00 price target.

Performance Shipping Inc. Announces Initiation of Analyst Coverage by H.C. Wainwright & Co.

ATHENS, Greece, March 05, 2021 (GLOBE NEWSWIRE) -- Performance Shipping Inc. (NASDAQ: PSHG), (the “Company”), a global shipping company specializing in the ownership of tankers, today announced that it has filed its 2020 Annual Report on Form 20-F for the fiscal year ended December 31, 2020, with the U.S. Securities and Exchange Commission. The Annual Report on Form 20-F, which contains the Company's audited consolidated financial statements, can be accessed on the SEC's website at http://www.sec.gov as well as through the Company's website at http://www.pshipping.com.

Performance Shipping Inc. Announces Filing of 2020 Annual Report on Form 20-F

ATHENS, Greece, March 05, 2021 (GLOBE NEWSWIRE) -- Performance Shipping Inc. (NASDAQ: PSHG) (the “Company”), a global shipping company specializing in the ownership of tanker vessels, today reported a net loss and net loss from continuing and discontinued operations attributable to common stockholders of $2.5 million for the fourth quarter of 2020, compared to a net loss and net loss from continuing and discontinued operations attributable to common stockholders of $12.2 million for the same period in 2019. Loss per share for the fourth quarter of 2020 was $0.51, while loss per share for the fourth quarter of 2019 was $3.17.

Performance Shipping Inc. Reports Financial Results for the Fourth Quarter and Year Ended December 31, 2020

ATHENS, Greece, March 03, 2021 (GLOBE NEWSWIRE) -- Performance Shipping Inc. (NASDAQ: PSHG), (the “Company”), a global shipping company specializing in the ownership of tankers, today announced that the Company's Annual Meeting of Shareholders (the “Meeting”) was duly held on February 25, 2021, in a virtual format only via the Internet, pursuant to a Notice of Annual Meeting of Shareholders dated January 15, 2021. Broadridge Financial Solutions, Inc. acted as inspector of the Meeting.

Performance Shipping Inc. Announces Results of 2021 Annual Meeting of Shareholders

ATHENS, Greece, Dec. 30, 2020 (GLOBE NEWSWIRE) -- Performance Shipping Inc. (NASDAQ: PSHG), (the “Company”), a global shipping company specializing in the ownership of tankers, announced today that the Company will hold its 2021 Annual General Meeting of Shareholders (the “Meeting”) on February 25, 2021 in virtual format. Shareholders and their proxy representatives will not be able to attend the Meeting physically. Additional details confirming how shares may be voted before or during the Meeting, as well as the time of the virtual Meeting and how to access it as a shareholder, will be included in the Company's proxy statement to be separately provided to shareholders. Whether or not shareholders plan to attend the Meeting virtually, shareholders of record of the Company's common shares are encouraged to vote and submit their proxy in advance of the Meeting. The Board of Directors (the “Board”) has set a record date of January 6, 2021.

Performance Shipping Inc. Announces the Date for its 2021 Annual General Meeting of Shareholders and Adoption of Amended and Restated Equity Incentive Plan

News for Performance Shipping Stock (PSHG)