# EDGAR Filing Document

**Accession Number:** 0001481241
**File Stem:** 0001140361-26-007893
**Filing Date:** 2026-3
**Character Count:** 32000
**Document Hash:** aee3a73c41a0ec0555720050cb8d3588
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001140361-26-007893.hdr.sgml**: 20260304

**ACCESSION NUMBER**: 0001140361-26-007893

**CONFORMED SUBMISSION TYPE**: 6-K

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260304

**FILED AS OF DATE**: 20260304

**DATE AS OF CHANGE**: 20260304

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Performance Shipping Inc.
- **CENTRAL INDEX KEY:** 0001481241
- **STANDARD INDUSTRIAL CLASSIFICATION:** DEEP SEA FOREIGN TRANSPORTATION OF FREIGHT [4412]
- **ORGANIZATION NAME:** 01 Energy & Transportation
- **EIN:** 000000000
- **STATE OF INCORPORATION:** 1T
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 6-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-35025
- **FILM NUMBER:** 26722049

**BUSINESS ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** 373 SYNGROU AVE.
- **STREET 2:** 17564 PALAIO FALIRO
- **CITY:** ATHENS
- **PROVINCE COUNTRY:** J3
- **BUSINESS PHONE:** 302166002400

**MAIL ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** 373 SYNGROU AVE.
- **STREET 2:** 17564 PALAIO FALIRO
- **CITY:** ATHENS
- **PROVINCE COUNTRY:** J3

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Diana Containerships Inc.
- **DATE OF NAME CHANGE:** 20100115

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### 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 March 2026

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 ☐

#### <br>

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#### INFORMATION CONTAINED IN THIS FORM 6-K REPORT

Attached to this report (this "Report") on Form 6-K as [Exhibit 99.1](ef20067172_ex99-1.htm) is a copy of the press release of Performance Shipping Inc. (the "Company") dated March 4, 2026, titled "Performance Shipping Inc. Reports Financial Results for the Fourth Quarter and Year Ended December 31, 2025."

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.

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#### 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.

---

| | |
|:---|:---|
|  | **PERFORMANCE SHIPPING INC.** |
|  | (Registrant) |
| Dated: March 4, 2026 | <u>/s/ Andreas Michalopoulos</u> |
|  | By: Andreas Michalopoulos |
|  | Chief Executive Officer |

---

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## Exhibit 99.1

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Exhibit 99.1

---

| | |
|:---|:---|
|  | ***Corporate Contact:*** |
|  | Andreas Michalopoulos |
|  | Chief Executive Officer, Director and Secretary |
|  | Telephone: + 30-216-600-2400 |
|  | Email: <u>amichalopoulos@pshipping.com</u> |
|  | Website: <u>www.pshipping.com</u> |
| <u>For Immediate Release</u> |  |
|  | ***Investor and Media Relations:*** |
|  | Edward Nebb |
|  | Comm-Counsellors, LLC |
|  | Telephone: + 1-203-972-8350 |
|  | Email: <u>enebb@optonline.net</u> |

---

#### PERFORMANCE SHIPPING INC. REPORTS FINANCIAL RESULTS FOR THE FOURTH QUARTER

#### AND YEAR ENDED DECEMBER 31, 2025

ATHENS, GREECE, March 4, 2026 – 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 $7.6 million for the fourth quarter of 2025, compared to a net income of $9.7 million for the same period in 2024. Earnings per share, basic and diluted, for the fourth quarter of 2025 were $0.57 and $0.19, respectively.

Revenue was $26.2 million ($24.6 million net of voyage expenses) for the fourth quarter of 2025, compared to $21.7 million ($19.8 million net of voyage expenses) for the same period in 2024. This increase was mainly attributable to the increase in ownership days following the delivery of the newbuilding vessels *P. Massport* and *P. Tokyo* in July and September 2025, respectively. Fleetwide, the average TCE rate for the fourth quarter of 2025 was $32,221, compared with an average rate of $32,652 for the same period in 2024. During the fourth quarter of 2025, net cash provided by operating activities was $9.7 million, compared with net cash provided by operating activities of $12.1 million for the fourth quarter of 2024.

Net income for the year ended December 31, 2025, amounted to $50.0 million, compared to a net income of $43.7 million for the year ended December 31, 2024. Earnings per share, basic and diluted, for the year ended December 31, 2025, were $3.87 and $1.28, respectively, while earnings per common share, basic and diluted, for the year ended December 31, 2024 were $3.39 and $1.11, respectively.

Commenting on the results of the fourth quarter of 2025, Andreas Michalopoulos, the Company's Chief Executive Officer, stated:

"Fiscal year 2025 represented another solid year for our Company. We generated revenues of $84.2 million, with a daily time charter equivalent (TCE) rate of $31,246, modestly below the strong results of 2024, when revenues reached $87.4 million and the TCE rate was $32,954. We nevertheless continued to deliver robust profitability, with net income rising to $50.0 million, supported in part by a gain from a vessel sale. These results demonstrate the strength of our operations and our ability to pursue opportunities in a profitable tanker market.

------

"Looking ahead, we believe 2026 is expected to be another firm year for the tanker market, supported by solid growth in seaborne trade of oil and refined petroleum products, increased exports from the Middle East and Latin America, firm Chinese demand, and continued trade sanctions. These market dynamics are expected to be sufficiently strong to absorb moderate fleet growth. As of the beginning of the year, we had a robust revenue backlog of approximately $350 million, with fixed charter coverage of approximately 88% for 2026 and 72% for 2027, providing significant cash flow visibility. Given the favorable charter rate environment, we are confident that the three vessels becoming available for employment later this year will secure attractive charter arrangements.

"At the same time, we continue to execute our fleet renewal and expansion strategy, enhancing both the commercial competitiveness and operational efficiency of our fleet. The delivery of our two 2019-built Suezmax tankers in December 2025, both operating under three-year charters at $36,500 per day, along with the delivery of our third LR2 Aframax newbuilding in January 2026 currently operating under a five-year charter at $31,000 per day, represent significant milestones for our strategy. Pro forma these additions and the opportunistic sale of our oldest vessel, M/T P. Sophia in mid-2026, our average fleet age will decline to nine years. The construction of our first LR1, expected to be delivered in early 2027, will further enhance our fleet quality. In addition, our recently signed shipbuilding contracts with China Shipbuilding Trading Co. Ltd. and Shanghai Waigaoqiao Shipbuilding Co. Ltd. for two 158,000 DWT Suezmax tankers will expand our presence in the Suezmax segment which we believe benefits from constructive medium and long-term market fundamentals, further supporting our long-term growth.

"Our balance sheet remains strong, supported by $49.3 million in cash, cash equivalents, and restricted cash as of year-end 2025. Following the successful completion of our bond tap issue in January 2026 and pro forma the expected gross proceeds from the M/T P. Sophia sale, our cash position is projected to increase to approximately $135 million. We remain committed to executing our fleet expansion strategy, while continuing to maintain prudent capital allocation and disciplined leverage management."

#### Corporate Developments
*Update on Outstanding Shares and Warrants*

As of March 3, 2026, the Company had outstanding 12,432,158 common shares. In addition, the following common share purchase warrants were outstanding as of such date:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Class A Warrants to purchase up to 567,366 common shares at an exercise price of $15.75 per common share;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Warrants issued July 19, 2022, to purchase up to 1,033,333 common shares at an exercise price of $1.65 per common share;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Warrants issued August 16, 2022, to purchase up to 2,122,222 common shares at an exercise price of $1.65 per common share;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Series A Warrants issued March 3, 2023, which are exchangeable for up to 14,300 common shares; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Series B Warrants issued March 3, 2023, to purchase up to 4,097,000 common shares at an exercise price of $2.25 per common share.

Finally, the Company had 50,726 shares of its Series B Convertible Cumulative Perpetual Preferred Stock and 1,423,912 shares of its Series C Convertible Cumulative Redeemable Perpetual Preferred Stock outstanding.

------

*Update on Recent Developments*

During the fourth quarter of 2025 and through March 3, 2026, the Company achieved several key milestones:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Acquired two 2019-built, modern eco-design Suezmax tankers, M/T P. Beverly Hills and M/T P. Bel Air, for $75.4 million each, net of brokerage commissions. Upon delivery in December 2025, both vessels
 commenced three-year time-charter contracts with Repsol Trading SA at $36,500 per day per vessel.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Entered into a two-year time-charter contract with SeaRiver Maritime, a subsidiary of ExxonMobil Corporation, for the M/T P. Long Beach at $30,500 per day.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Completed a $50 million tap issuance, priced at 103% of par value, under the Company's 9.875% Nordic bonds due July 2029.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Took delivery of the third newbuild LR2 Aframax tanker, M/T P. Marseille, in January 2026. Upon delivery, the vessel commenced its five-year time-charter contract with Clearlake Shipping Pte Ltd, a
 subsidiary of Gunvor Group, at a rate of $31,000 per day.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Secured a three-year time-charter contract for M/T P. Monterey with PBF Holding Company LLC, a subsidiary of PBF Energy Inc., at $31,000 per day.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Entered into an agreement to sell the oldest vessel in the fleet, M/T P. Sophia, for $35.65 million, with delivery expected in mid-2026.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Entered into two shipbuilding contracts with China Shipbuilding Trading Co. Ltd. and Shanghai Waigaoqiao Shipbuilding Co. Ltd. for the construction of two 158,000 DWT newbuilding Suezmax tanker vessels. The
 vessels are expected to be delivered in October 2028 and May 2029, respectively, at a contract price of $81.5 million per vessel.

#### Tanker Market Update for the Fourth Quarter of 2025:
• Tanker fleet supply was 709.92 million dwt, up 0.4% from 707.3 million dwt from the previous quarter and up 2.1% from Q4 2024 levels of 695.3 million dwt.

• Tanker demand has entered 2026 on firm footing, supported by elevated export volumes following increased oil production, strong Middle East and Latin America exports, resilient Chinese import demand, and shifting Venezuelan flows. In parallel, mainstream tonnage has been increasingly utilized, while ongoing geopolitical uncertainty further underpins demand conditions. As a result, in 2026 and 2027, seaborne oil trade in tonne-miles is expected to grow by approximately 0.7% and 1.4%, respectively.

• Tanker fleet supply in deadweight terms is estimated to grow by 4.2% in 2026 and by 5.5% in 2027.

• Newbuilding tanker contracting was 22.2 million dwt in the fourth quarter, resulting in a tanker orderbook-to-fleet ratio of 17.8%.

• Daily spot charter rates for Aframax tankers averaged $61,382, up 61.1% from the previous quarter average of $38,107 and up 58.4% from Q4 2024 average of $38,746.

------

• The value of a 10-year-old Aframax tanker at the end of the fourth quarter was $55.0 million, up 10.0% from $50.0 million in the previous quarter, and up 5.8% from $52.0 million in Q4 2024.

• Daily spot charter rates for Suezmax tankers averaged $77,370, up 50.6% from the previous quarter average of $51,385 and up 80.1% from Q4 2024 average of $42,948.

• The value of a 10-year-old Suezmax tanker at the end of the fourth quarter was $64.0 million, up 4.9% from $61.0 million in the previous quarter, and up 6.7% from $60.0 million in Q4 2024.

• The number of tankers used for floating storage (excluding dedicated storage) stood at 119 (14.4 million dwt) in the fourth quarter, down 4.8% from 125 (14.4 million dwt) at the end of the previous quarter and up 56.6% from 76 (10.1 million dwt) in Q4 2024.

• Global oil consumption was 104.3 million bpd, down 0.1% from the previous quarter level of 104.5 million bpd, and up 1.0% from Q4 2024 levels of 103.2 million bpd.

• Global oil production was 108.3 million bpd, up 0.3% from the previous quarter level of 108.0 million bpd and up 4.2% from Q4 2024 levels of 103.9 million bpd.

• OECD commercial inventories were 2,883 million barrels, up 0.9% from the previous quarter level of 2,858 million barrels, and up 5.1% from Q4 2024 levels of 2,743 million barrels.

The above market outlook update is based on information, data, and estimates derived from industry sources. There can be no assurances that such trends will continue or that anticipated developments in tanker demand, fleet supply or other market indicators will materialize. While we believe the market and industry information included in this release to be generally reliable, we have not independently verified any third-party information or verified that more recent information is not available.

#### Supplemental Information
On February 28, 2026, the United States and Israel launched strikes against Iran, killing Iran's supreme leader Ayatollah Khamenei. In retaliation, Iranian missiles and drones targeted Israel and a number of countries that host US military bases—including Bahrain, the United Arab Emirates, Kuwait, Qatar and Saudi Arabia—and Hezbollah fired projectiles at Israel. While there is significant uncertainty about the duration of the war in Iran, the White House has stated that it may be a protracted engagement. These events have destabilized the region and may lead to significant disruptions across all sectors of the shipping industry. Further, shipping through the Strait of Hormuz, a waterway essential to the shipment of crude oil and refined petroleum, may experience prolonged disruption. Iran's Islamic Revolutionary Guard Corps has warned vessels to avoid the passage. Increased electronic interference may affect navigational and tracking systems, which would heighten the risk of vessel collisions. One of our vessels, the M/T P. Aliki, chartered to Pakistan National Shipping Corporation, is currently operating within the Persian Gulf. Although it is impossible to predict exactly how this conflict will affect the tanker industry, it is very likely that a prolonged war will have significant impacts across the sector.

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---

| | | | | |
|:---|:---|:---|:---|:---|
| **Summary of Selected Financial & Other Data** | **Summary of Selected Financial & Other Data** | **Summary of Selected Financial & Other Data** | **Summary of Selected Financial & Other Data** | **Summary of Selected Financial & Other Data** |
| &nbsp;&nbsp;&nbsp; **(in thousands of US Dollars, except per share data, fleet data and average daily results)** | **For the three months ended**<br> **December 31,** | **For the three months ended**<br> **December 31,** | **For the years ended December 31,** | **For the years ended December 31,** |
|  | **2025** | **2024** | **2025** | **2024** |
|  | (unaudited) | (unaudited) | (unaudited) | (unaudited) |
| **STATEMENT OF OPERATIONS DATA:** | **STATEMENT OF OPERATIONS DATA:** | **STATEMENT OF OPERATIONS DATA:** | **STATEMENT OF OPERATIONS DATA:** | **STATEMENT OF OPERATIONS DATA:** |
| &nbsp;&nbsp;&nbsp; Revenue | $26158 | $21678 | $84172 | $87445 |
| &nbsp;&nbsp;&nbsp; Voyage expenses | 1573 | 1858 | 5181 | 4237 |
| &nbsp;&nbsp;&nbsp; Vessel operating expenses | 6441 | 5058 | 21605 | 19758 |
| &nbsp;&nbsp;&nbsp; Net income | 7559 | 9704 | 49973 | 43730 |
| &nbsp;&nbsp;&nbsp; Net income attributable to common stockholders | 7101 | 9246 | 48142 | 41897 |
| &nbsp;&nbsp;&nbsp; Earnings per common share, basic | 0.57 | 0.74 | 3.87 | 3.39 |
| &nbsp;&nbsp;&nbsp; Earnings per common share, diluted | 0.19 | 0.25 | 1.28 | 1.11 |
| **FLEET DATA** | **FLEET DATA** | **FLEET DATA** | **FLEET DATA** | **FLEET DATA** |
| &nbsp;&nbsp;&nbsp; Average number of vessels | 8.3 | 7.0 | 7.1 | 7.0 |
| &nbsp;&nbsp;&nbsp; Number of vessels | 10.0 | 7.0 | 10.0 | 7.0 |
| &nbsp;&nbsp;&nbsp; Ownership days | 763 | 644 | 2577 | 2562 |
| &nbsp;&nbsp;&nbsp; Available days | 763 | 607 | 2528 | 2525 |
| &nbsp;&nbsp;&nbsp; Operating days (1) | 758 | 604 | 2492 | 2506 |
| &nbsp;&nbsp;&nbsp; Fleet utilization | 99.3% | 99.5% | 98.6% | 99.2% |
| **AVERAGE DAILY RESULTS** | **AVERAGE DAILY RESULTS** | **AVERAGE DAILY RESULTS** | **AVERAGE DAILY RESULTS** | **AVERAGE DAILY RESULTS** |
| &nbsp;&nbsp;&nbsp; Time charter equivalent (TCE) rate (2) | $32221 | $32652 | $31246 | $32954 |
| &nbsp;&nbsp;&nbsp; Daily vessel operating expenses (3) | $8442 | $7854 | $8384 | $7712 |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) Operating days are the number of available days in a period less the aggregate number of days that our vessels are off-hire. The specific calculation counts as on-hire the days of the ballast leg of the spot voyages, as long as a
 charter party is in place. The shipping industry uses operating days to measure the aggregate number of days in a period during which vessels actually generate revenues.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) Time charter equivalent rates, or TCE rates, are defined as revenue (voyage, time charter and pool revenue), less voyage expenses during a period divided by the number of our available days during the period, which is consistent with
 industry standards. Voyage expenses include port charges, bunker (fuel) expenses, canal charges and commissions. TCE is a non-GAAP measure. TCE rate is a standard shipping industry performance measure used primarily to compare daily
 earnings generated by vessels despite changes in the mix of charter types (i.e., voyage (spot) charters, time charters and bareboat charters).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) Daily vessel operating expenses, which include crew wages and related costs, the cost of insurance and vessel registry, expenses relating to repairs and maintenance, the costs of spares and consumable stores, lubricant costs, tonnage
 taxes, regulatory fees, environmental costs, lay-up expenses and other miscellaneous expenses, are calculated by dividing vessel operating expenses by ownership days for the relevant period.

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Fleet Employment Profile (As of March 3, 2026)** | **Fleet Employment Profile (As of March 3, 2026)** | **Fleet Employment Profile (As of March 3, 2026)** | **Fleet Employment Profile (As of March 3, 2026)** | **Fleet Employment Profile (As of March 3, 2026)** | **Fleet Employment Profile (As of March 3, 2026)** |  |
| Performance Shipping Inc.'s fleet is employed as follows: | Performance Shipping Inc.'s fleet is employed as follows: | Performance Shipping Inc.'s fleet is employed as follows: | Performance Shipping Inc.'s fleet is employed as follows: | Performance Shipping Inc.'s fleet is employed as follows: | Performance Shipping Inc.'s fleet is employed as follows: |  |
|  | **Vessel** | **Year of**<br> **Build** | **Capacity** | **Builder** | **Charter Type** | **Notes** |
|  | **Vessel** | **Year of**<br> **Build** | **Capacity** | **Builder** | **Charter Type** | **Notes** |
| **Operating Aframax Tanker Vessels** | **Operating Aframax Tanker Vessels** | **Operating Aframax Tanker Vessels** | **Operating Aframax Tanker Vessels** | **Operating Aframax Tanker Vessels** | **Operating Aframax Tanker Vessels** | **Operating Aframax Tanker Vessels** |
| 1 | BLUE MOON | 2011 | 104,623 DWT | Sumitomo Heavy Industries Marine & Engineering Co., LTD. | Time-Charter |  |
| 2 | BRIOLETTE | 2011 | 104,588 DWT | Sumitomo Heavy Industries Marine & Engineering Co., LTD. | Time-Charter |  |
| 3 | P. SOPHIA | 2009 | 105,071 DWT | Hyundai Heavy Industries Co., LTD | Time-Charter |  |
| 4 | P. ALIKI | 2010 | 105,304 DWT | Hyundai Heavy Industries Co., LTD | Time-Charter |  |
| 5 | P. MONTEREY | 2011 | 105,525 DWT | Hyundai Heavy Industries Co., LTD | Time-Charter |  |
| 6 | P. LONG BEACH | 2013 | 105,408 DWT | Hyundai Heavy Industries Co., LTD | Time-Charter |  |
| 7 | P. MASSPORT | 2025 | 114,036 DWT | China Shipbuilding Trading Company Limited and Shanghai Waigaoqiao Shipbuilding Company Limited | Time-Charter |  |
| 8 | P. TOKYO | 2025 | 114,014 DWT | China Shipbuilding Trading Co. Ltd. ("CSTC") and Shanghai Waigaoqiao Shipbuilding Co. Ltd. | Time-Charter |  |
| 9 | P. MARSEILLE | 2026 | 113,977 DWT | China Shipbuilding Trading Co. Ltd. ("CSTC") and Shanghai Waigaoqiao Shipbuilding Co. Ltd. | Time-Charter |  |

---

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Operating Suezmax Tanker Vessels** | **Operating Suezmax Tanker Vessels** | **Operating Suezmax Tanker Vessels** | **Operating Suezmax Tanker Vessels** | **Operating Suezmax Tanker Vessels** | **Operating Suezmax Tanker Vessels** |
| 10 | P. BEVERLY HILLS | 2019 | 157,286 DWT | Hyundai Samho Heavy Industries Co., Ltd | Time-Charter |
| 11 | P. BEL AIR | 2019 | 157,286 DWT | Hyundai Samho Heavy Industries Co., Ltd | Time-Charter |

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Newbuilding LR1 Tanker Vessel** | **Newbuilding LR1 Tanker Vessel** | **Newbuilding LR1 Tanker Vessel** | **Newbuilding LR1 Tanker Vessel** | **Newbuilding LR1 Tanker Vessel** | **Newbuilding LR1 Tanker Vessel** | **Newbuilding LR1 Tanker Vessel** |
| 12 | HULL 1624 | - | 75,000 DWT | Jiangsu Yangzijiang Shipbuilding Group Co., Ltd. | Time-Charter | 1,2 |

---

<sup>1</sup> As previously announced, the Company has secured time charter contract for its newbuilding vessel Hull 1624, with employment to commence upon delivery of the vessel to the Company.

<sup>2</sup> Expected delivery date to the Company for Hull 1624, as per management's current estimate, is January 2027.

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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, 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 and between Israel and the US and 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 political events, armed conflict, accidents or labor disputes, 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.

(See financial tables attached)

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#### PERFORMANCE SHIPPING INC.

#### FINANCIAL TABLES
Expressed in thousands of U.S. Dollars, except for share and per share data

#### CONSOLIDATED STATEMENTS OF OPERATIONS

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **For the three months ended December 31,** | **For the three months ended December 31,** | **For the years ended December 31,** | **For the years ended December 31,** |
|  | **2025** | **2024** | **2025** | **2024** |
| **REVENUE:** | (unaudited) | (unaudited) | (unaudited) |  |
| &nbsp;&nbsp;&nbsp; Revenue | $26158 | $21678 | $84172 | $87445 |
| **EXPENSES:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Voyage expenses | 1573 | 1858 | 5181 | 4237 |
| &nbsp;&nbsp;&nbsp; Vessel operating expenses | 6441 | 5058 | 21605 | 19758 |
| &nbsp;&nbsp;&nbsp; Depreciation and amortization of deferred charges | 4769 | 3400 | 15077 | 13336 |
| &nbsp;&nbsp;&nbsp; General and administrative expenses | 3211 | 2483 | 9702 | 8306 |
| &nbsp;&nbsp;&nbsp; Gain on vessel's sale | - | - | (19456) | - |
| &nbsp;&nbsp;&nbsp; (Reversal) / Provision for credit losses | - | - | 27 | (7) |
| &nbsp;&nbsp;&nbsp; Foreign currency losses /(gains) | 5 | (79) | 100 | 1 |
| &nbsp;&nbsp;&nbsp; **Operating income** | $10159 | $8958 | $51936 | $41814 |
| **OTHER INCOME / (EXPENSES):** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Interest and finance costs | (4020) | (20) | (6793) | (1345) |
| &nbsp;&nbsp;&nbsp; Interest income | 1424 | 766 | 4834 | 3255 |
| &nbsp;&nbsp;&nbsp; Changes in fair value of warrants' liability | (4) | - | (4) | 6 |
| &nbsp;&nbsp;&nbsp; **Total other income (expenses), net** | $(2600) | $746 | $(1963) | $1916 |
| **Net income** | $7559 | $9704 | $49973 | $43730 |
| Dividends on preferred stock | (458) | (458) | (1831) | (1833) |
| **Net income attributable to common stockholders** | $7101 | $9246 | $48142 | $41897 |
| **Earnings per common share, basic** | $0.57 | $0.74 | $3.87 | $3.39 |
| **Earnings per common share, diluted** | $0.19 | $0.25 | $1.28 | $1.11 |
| **Weighted average number of common shares, basic** | 12432158 | 12432158 | 12432158 | 12365418 |
| **Weighted average number of common shares, diluted** | 39334298 | 39037450 | 38925391 | 39201865 |

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#### CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **For the three months ended**<br> **December 31,** | **For the three months ended**<br> **December 31,** | **For the years ended December 31,** | **For the years ended December 31,** |
|  | **2025** | **2024** | **2025** | **2024** |
|  | (unaudited) | (unaudited) | (unaudited) |  |
| **Net income** | $7559 | $9704 | $49973 | $43730 |
| Other comprehensive income (Actuarial gain) | 49 | 4 | 49 | 4 |
| **Comprehensive income** | $7608 | $9708 | $50022 | $43734 |

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#### CONDENSED CONSOLIDATED BALANCE SHEET DATA
(Expressed in thousands of US Dollars)

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| | | |
|:---|:---|:---|
|  | **December 31, 2025** | **December 31, 2024\*** |
| **<u>ASSETS</u>** | (unaudited) |  |
| &nbsp;&nbsp;&nbsp; Cash, cash equivalents and restricted cash | $49261 | $71314 |
| &nbsp;&nbsp;&nbsp; Advances for vessels under construction and other vessels' costs | 48725 | 58468 |
| &nbsp;&nbsp;&nbsp; Vessels, net | 449689 | 189577 |
| &nbsp;&nbsp;&nbsp; Other fixed assets, net | 58 | 34 |
| &nbsp;&nbsp;&nbsp; Other assets | 12120 | 11000 |
| **Total assets** | $559853 | $330393 |
| **<u>LIABILITIES AND STOCKHOLDERS' EQUITY</u>** |  |  |
| &nbsp;&nbsp;&nbsp; Long-term debt, net of unamortized deferred financing costs | $222332 | $47459 |
| &nbsp;&nbsp;&nbsp; Other liabilities | 14087 | 7691 |
| &nbsp;&nbsp;&nbsp; Total stockholders' equity | 323434 | 275243 |
| **Total liabilities and stockholders' equity** | $559853 | $330393 |

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\* The balance sheet data as of December 31, 2024 has been derived from the audited consolidated financial statements at that date.

#### OTHER FINANCIAL DATA

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **For the three months ended December 31,** | **For the three months ended December 31,** | **For the years ended December 31,** | **For the years ended December 31,** |
|  | **2025** | **2024** | **2025** | **2024** |
|  | (unaudited) | (unaudited) | (unaudited) |  |
| Net Cash provided by Operating Activities | $9735 | $12055 | $50076 | $59896 |
| Net Cash used in Investing Activities | $(169028) | $(7697) | $(244589) | $(47415) |
| Net Cash (used in) / provided by Financing Activities | $(3618) | $(2567) | $172460 | $(9434) |

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