Performance Shipping Inc 6-K, filed Dec 3, 2024
Performance Shipping Inc. (PSHG)
6-K
2024-12-03
For: 2024-12-03
View Original
Added on
April 07, 2026
About this 6-K
Performance Shipping Inc filed this 6-K on December 3, 2024.
FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
For the month of December 2024
Commission File Number: 001-35025
PERFORMANCE SHIPPING INC.
(Translation of registrant's name into English)
373 Syngrou Avenue
175 64 Palaio Faliro
Athens, Greece
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:
Form 20-F ☒ Form 40-F ☐
INFORMATION CONTAINED IN THIS FORM 6-K REPORT
Attached to this report (this “Report”) on Form 6-K as Exhibit 99.1 is a copy of the press release of Performance Shipping Inc. (the “Company”) dated December 3, 2024, titled
“Performance Shipping Inc. Secures Time Charter Contract With Oil Major At US$33,500 Per Day For LR2 Aframax Tanker, M/T P. Aliki.”
The information contained in this Report on Form 6-K, excluding the statement in
Exhibit 99.1 attributed to the Company’s Chief Executive Officer, is hereby incorporated by reference into the Company’s registration statement on Form F-3 (File No. 333-197740), filed with the U.S. Securities and Exchange Commission (the “SEC”)
with an effective date of August 13, 2014, the Company’s registration statement on Form F-3 (File No. 333-266946), filed with the SEC with an effective date of August 29, 2022, and the Company’s registration statement on Form F-3 (File No.
333-271398), filed with the SEC with an effective date of May 4, 2023.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
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PERFORMANCE SHIPPING INC.
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(Registrant)
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Dated: December 3, 2024
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/s/ Andreas Michalopoulos
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By: Andreas Michalopoulos
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Chief Executive Officer
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Exhibit 99.1
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Corporate Contact:
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Andreas Michalopoulos
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Chief Executive Officer, Director and Secretary
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Telephone: +30-216-600-2400
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Email: amichalopoulos@pshipping.com
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Website: www.pshipping.com
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For Immediate Release
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Investor and Media Relations:
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Edward Nebb
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Comm-Counsellors, LLC
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Telephone: + 1-203-972-8350
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Email: enebb@optonline.net
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PERFORMANCE SHIPPING INC. SECURES TIME CHARTER CONTRACT WITH OIL MAJOR AT US$33,500 PER DAY FOR LR2 AFRAMAX TANKER, M/T P. ALIKI
ATHENS, GREECE, December 3, 2024 – 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 SeaRiver Maritime LLC (the “Charterer”), a wholly-owned subsidiary of ExxonMobil Corporation (NYSE: XOM), for the 2010-built, 105,304 dwt LR2 Aframax tanker vessel, M/T P.
Aliki. The gross charter rate will be US$33,500 per day for a period of seven (7) months +/- 15 days at the option of the Charterer and is expected to commence at the beginning of December. This charter will generate approximately US$6.6 million of
gross revenue for the minimum duration of the charter.
Commenting on this charter, Andreas Michalopoulos, the Company’s Chief Executive Officer, stated:
“We are extremely pleased to have secured this time charter with SeaRiver Maritime LLC, a subsidiary of ExxonMobil, one of the world’s leading oil majors. This agreement is a testament to the high
standards of operational excellence we consistently deliver and reflects the confidence that charterers place in our vessels and management practices. We look forward to further strengthening this collaboration and continuing to deliver exceptional
value to our stakeholders.”
About the Company
Performance Shipping Inc. is a global provider of shipping transportation services through its ownership of tanker vessels. The Company employs its fleet on spot voyages, through pool arrangements and on time charters.
Cautionary Statement Regarding Forward-Looking Statements
Matters discussed in this press release may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to
encourage companies to provide prospective information about their business. Forward-looking statements include, but are not limited to, statements concerning plans, objectives, goals, strategies, future events or performance, and underlying
assumptions and other statements, which are other than statements of historical facts, including with respect to the delivery of the vessels we have agreed to acquire, future market conditions and the prospective financing and employment of our
vessels. The words “believe,” “anticipate,” “intends,” “estimate,” “forecast,” “project,” “plan,” “potential,” “will,” “may,” “should,” “expect,” “targets,” “likely,” “would,” “could,” “seeks,” “continue,” “possible,” “might,” “pending” and similar
expressions, terms or phrases may identify forward-looking statements.
The forward-looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including, without limitation, our management’s examination of
historical operating trends, data contained in our records and other data available from third parties. Although we believe that these assumptions were reasonable when made, because these assumptions are inherently subject to significant
uncertainties and contingencies which are difficult or impossible to predict and are beyond our control, we cannot assure you that we will achieve or accomplish these expectations, beliefs, or projections.
In addition to these important factors, other important factors that, in our view, could cause actual results to differ materially from those discussed in the forward-looking
statements include, but are not limited to: the strength of world economies, fluctuations in currencies and interest rates, general market conditions, including fluctuations in charter rates and vessel values, changes in demand in the tanker
shipping industry, changes in the supply of vessels, changes in worldwide oil production and consumption and storage, changes in our operating expenses, including bunker prices, crew costs, drydocking and insurance costs, our future operating or
financial results, availability of financing and refinancing including with respect to vessels we agree to acquire, changes in governmental rules and regulations or actions taken by regulatory authorities, potential liability from pending or future
litigation, general domestic and international political conditions, the length and severity of epidemics and pandemics, including COVID-19, and their impact on the demand for seaborne transportation of petroleum and other types of products,
changes in governmental rules and regulations or actions taken by regulatory authorities, general domestic and international political conditions or events, including “trade wars”, armed conflicts including the war in Ukraine and the war between
Israel and Hamas or Iran, the imposition of new international sanctions, acts by terrorists or acts of piracy on ocean-going vessels, potential disruption of shipping routes due to accidents, labor disputes or political events, vessel breakdowns
and instances of off-hires and other important factors. Please see our filings with the US Securities and Exchange Commission for a more complete discussion of these and other risks and uncertainties.