Profile
Sector:
IndustrialsIndustry:
Marine ShippingCountry:
GreeceIPO:
03 January 2011Website:
http://www.pshipping.comNext earnings report:
N/ALast dividends:
29 October 2020Next dividends:
N/APrice
after hours | Fri, 25 Oct 2024 20:50:00 GMTDividend
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PSHG Latest News
ATHENS, Greece, July 25, 2024 (GLOBE NEWSWIRE) -- Performance Shipping Inc. (NASDAQ: PSHG) (“we” or the “Company”), a global shipping company specializing in the ownership of tanker vessels, today reported net income of $10.2 million and net income attributable to common stockholders of $9.7 million for the second quarter of 2024. The 2024 second quarter results compared to a net income of $18.4 million and net income attributable to common stockholders of $17.9 million for the same period in 2023. Earnings per share, basic and diluted, for the second quarter of 2024 were $0.79 and $0.26, respectively.
ATHENS, Greece, June 06, 2024 (GLOBE NEWSWIRE) -- 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 separate wholly-owned subsidiary, it has entered into a time charter contract with Trafigura Maritime Logistics Pte Ltd ("Trafigura" or the "Charterer") for the 2010-built, 105,304 dwt LR2 Aframax tanker vessel, the M/T P. Aliki. The charter is for a minimum period of four and a half (4.5) months up to a maximum period of six (6) months and 25 days, at the option of the Charterer. The gross charter rate will be US$47,000 per day for the minimum period, and US$48,500 per day for the remaining period up to the maximum redelivery date. This charter is expected to commence on or around June 16, 2024, and is expected to generate approximately US$6.4 million in gross revenue for the minimum duration of the charter.
ATHENS, Greece, June 05, 2024 (GLOBE NEWSWIRE) -- 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 separate wholly-owned subsidiary, it has entered into a time charter contract with Aramco Trading Fujairah FZE (“Aramco” or the "Charterer") for the 2011-built, 104,588 dwt Aframax tanker vessel, the M/T Briolette. The gross charter rate will be US$41,000 per day for a period of twenty-four (24) months ± 30 days at the option of the Charterer. The charter commenced on June 2, 2024, in direct continuation of the previous charter, and is expected to generate approximately US$28.7 million in gross revenue for the minimum duration of the charter.
ATHENS, Greece, May 30, 2024 (GLOBE NEWSWIRE) -- Performance Shipping Inc. (NASDAQ: PSHG) (“we” or the “Company”), a global shipping company specializing in the ownership of tanker vessels, today reported net income of $11.4 million and net income attributable to common stockholders of $11.0 million for the first quarter of 2024. The 2024 first quarter results compared to a net income of $15.7 million and net income attributable to common stockholders of $4.6 million for the same period in 2023. Earnings per share, basic and diluted, for the first quarter of 2024 were $0.89 and $0.29, respectively.
Greek shipping magnate George Economou increases his recent efforts to gain control of Performance Shipping. After commencing a proxy battle last month, Mr. Economou launched a cash tender offer to acquire all of the company's outstanding common stock at a price of $3.00 per share. However, the offer is highly conditional and essentially requires the company to hand over control to Mr. Economou rather than defending against the unsolicited approach.
Greece-based tanker operator has raised $37.7 million over the past 13 months from relentlessly diluting common shareholders well below net asset value ("NAV"). Like other tanker companies with a focus on the spot- and short-term time charter markets, Performance Shipping has benefited heavily from elevated charter rates caused by recent geopolitical events. Last week, the company reported highly profitable Q1/2023 results with $18.7 million in cash generated from operating activities as compared to $33.8 million for all of 2022.
What type of business is Performance Shipping?
Performance Shipping Inc. provides shipping transportation services through its tanker vessels worldwide. As of December 31, 2023, its fleet consisted of seven Aframax tanker vessels with a combined carrying capacity of 735,910 DWT. The company was incorporated in 2010 and is based in Athens, Greece.
What sector is Performance Shipping in?
Performance Shipping is in the Industrials sector
What industry is Performance Shipping in?
Performance Shipping is in the Marine Shipping industry
What country is Performance Shipping from?
Performance Shipping is headquartered in Greece
When did Performance Shipping go public?
Performance Shipping initial public offering (IPO) was on 03 January 2011
What is Performance Shipping website?
https://www.pshipping.com
Is Performance Shipping in the S&P 500?
No, Performance Shipping is not included in the S&P 500 index
Is Performance Shipping in the NASDAQ 100?
No, Performance Shipping is not included in the NASDAQ 100 index
Is Performance Shipping in the Dow Jones?
No, Performance Shipping is not included in the Dow Jones index
When was Performance Shipping the previous earnings report?
No data
When does Performance Shipping earnings report?
Next earnings report date is not announced yet