6-K - Performance Shipping Inc. | StockGist

AI Analysis

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Performance Shipping Inc. reported Q4 2025 net income of $7.6 million and full-year 2025 net income of $50.0 million, with revenue of $26.2 million and $84.2 million, respectively. The company announced vessel acquisitions, charters, a $50 million bond tap, a vessel sale agreement, and new shipbuilding contracts, strengthening its fleet and financial position.

Key Takeaways

1Q4 2025 net income $7.6 million vs $9.7 million in Q4 2024

2Full-year 2025 net income $50.0 million vs $43.7 million in 2024

3Acquired M/T P. Beverly Hills and M/T P. Bel Air for $75.4 million each, on 3-year charters at $36,500/day with Repsol

4$50 million tap issuance under 9.875% Nordic bonds due July 2029 at 103% of par

5Agreement to sell M/T P. Sophia for $35.65 million, delivery mid-2026

6Two shipbuilding contracts for 158,000 DWT Suezmax tankers at $81.5 million each, delivery 2028-2029

Current Report Details

Event Type

6-K

Variant

6-K

Items Reported

6-K

Current Report on Form 6-K

Other Event

Results of Operations

Fourth Quarter 2025

Metric	Value	Prior Period
Revenue	$26.2K	$21.7K
Net income	$7.6K	$9.7K
Earnings per common share, basic	$0.57	$0.74
Earnings per common share, diluted	$0.19	$0.25

Transaction Details

Material Agreement

•Two-year time-charter with SeaRiver Maritime for M/T P. Long Beach at $30,500 per day
•Three-year time-charter for M/T P. Monterey with PBF Holding Company LLC at $31,000 per day
•Two shipbuilding contracts with China Shipbuilding Trading Co. Ltd. and Shanghai Waigaoqiao Shipbuilding Co. Ltd. for two 158,000 DWT Suezmax tankers at $81.5 million each, delivery October 2028 and May 2029

Debt / Financing

Instrument: 9.875% Nordic bonds due July 2029
Principal: 50000
Rate: 9.875%

Exhibits (2)

6-K

99.1

EXHIBIT 99.1