Streetbeat News

PSHG

Performance Shipping Inc.

https://www.pshipping.com

Industry

Marine Shipping

Performance Shipping Inc., through its subsidiaries, provides shipping transportation services through its ownership of tanker vessels worldwide. It owned and operated five Aframax tanker vessels with a combined carrying capacity of 546,094 dwt. The company was incorporated in 2010 and is based in Athens, Greece.

Open

1.95

Mkt cap

24M

Volume

62K

High

1.95

P/E Ratio

1.27

52-wk high

2.58

Low

1.83

Div yield

N/A

52-wk low

1.70

Performance Shipping has secured a contract with Aramco Trading Fujairah for a charter rate of $41,000 per day for approximately 24 months.

Portfolio Pulse from Benzinga Newsdesk

June 05, 2024 | 1:30 pm

Performance Shipping has entered into a contract for the construction of a new LR1 Tanker Vessel at a cost of $54.1M, excluding extras and net commission to third parties.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 1:30 pm

Performance Shipping Inc. (NASDAQ:PSHG) has secured 5-year time charter contracts with Clearlake Shipping for three newbuilding LNG-ready, scrubber-fitted, LR2 Aframax tanker vessels at $31,000 per vessel per day. The contracts, which have options to extend for a 6th and 7th year, are expected to commence between Q4 2025 and Q2 2026. The firm period's gross revenue is anticipated to be $169.8 million, covering 88% of the construction costs and increasing the company's fixed revenue backlog to approximately $211.4 million.

Portfolio Pulse from Benzinga Newsdesk

March 12, 2024 | 1:30 pm

Performance Shipping (NASDAQ:PSHG) reported Q4 2023 earnings of $0.630 per share, missing the consensus estimate of $0.690. However, their sales of $23.800M exceeded the $23.200M estimate, marking a 14.29% decrease from the previous year.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 2:29 pm

Benzinga Insights highlights 5 value stocks in the industrials sector with low P/E ratios, suggesting potential undervaluation. The stocks include Hertz Global Holdings (HTZ), Brookfield Bus Partners (BBU), Navios Maritime Partners (NMM), Performance Shipping (PSHG), and AGCO (AGCO), each with recent financial performance data indicating varying degrees of earnings and dividend yield changes.

Portfolio Pulse from Benzinga Insights

March 06, 2024 | 2:41 pm

The article identifies five value stocks in the industrials sector based on low P/E multiples, indicating potential undervaluation. These include Mueller Industries (MLI), United Airlines Holdings (UAL), Euroseas (ESEA), Performance Shipping (PSHG), and Intuitive Machines (LUNR), with recent financial performance data provided for each. The significance of investing in value stocks is highlighted, noting the potential for rebound and the associated risks.

Portfolio Pulse from Benzinga Insights

February 21, 2024 | 2:41 pm

Performance Shipping Inc. (NASDAQ:PSHG) has signed contracts for the construction of two new LNG-ready, scrubber-fitted Tier III LR2 tankers, with deliveries scheduled for January and April of 2026. The vessels, costing $64,845,000 each, will be built by CSTC and SWS in China. This move is part of the company's fleet expansion and renewal strategy, following the sale of two older tankers in 2022 and 2023. The new tankers will feature advanced engines and emission control systems, positioning the company to benefit from expected low tanker fleet growth and high seaborne trade demand.

Portfolio Pulse from Benzinga Newsdesk

December 20, 2023 | 2:29 pm

Performance Shipping has voluntarily prepaid its existing loans with Piraeus Bank, totaling approximately $44.8 million. As a result, the company's total outstanding debt will be reduced to about $55.2 million, and three of its seven vessels will be free of debt encumbrances.

Portfolio Pulse from Benzinga Newsdesk

December 18, 2023 | 2:29 pm

Performance Shipping reported Q3 earnings with an EPS of $0.27, missing the sales estimate of $27.30M with actual sales of $24.10M.

Portfolio Pulse from Bill Haddad

November 27, 2023 | 2:32 pm

Performance Shipping Inc. (NASDAQ:PSHG) has agreed to sell its 2007-built Aframax tanker vessel M/T P. Kikuma for $39.3 million, expecting to record a gain of approximately $17.3 million in Q4 2023. The sale will reduce the average age of the company's fleet and support its fleet renewal strategy, including financing for a new LNG-ready Aframax tanker scheduled for delivery in 2025.

Portfolio Pulse from Benzinga Newsdesk

November 14, 2023 | 2:30 pm

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