# EDGAR Filing Document

**Accession Number:** 0001481241
**File Stem:** 0001140361-25-029870
**Filing Date:** 2025-8
**Character Count:** 33133
**Document Hash:** 5a7f54fa068d8bb35c49768488b5aa92
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001140361-25-029870.hdr.sgml**: 20250808

**ACCESSION NUMBER**: 0001140361-25-029870

**CONFORMED SUBMISSION TYPE**: 6-K

**PUBLIC DOCUMENT COUNT**: 3

**CONFORMED PERIOD OF REPORT**: 20250808

**FILED AS OF DATE**: 20250808

**DATE AS OF CHANGE**: 20250808

**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:** 251198802

**BUSINESS ADDRESS:**
- **STREET 1:** 373 SYNGROU AVE.
- **STREET 2:** 17564 PALAIO FALIRO
- **CITY:** ATHENS
- **STATE:** J3
- **ZIP:** 00000
- **BUSINESS PHONE:** 302166002400

**MAIL ADDRESS:**
- **STREET 1:** 373 SYNGROU AVE.
- **STREET 2:** 17564 PALAIO FALIRO
- **CITY:** ATHENS
- **STATE:** J3
- **ZIP:** 00000

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

------

### 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 August 2025

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 ☐

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

Attached to this Report on Form 6-K as [Exhibit 99.1](ef20053581_ex99-1.htm) is a copy of the press release of Performance Shipping Inc. (the "Company") dated July 31, 2025, titled "Performance Shipping Inc. Announces Naming and Delivery of M/T P. Massport, First of Four Newbuild Tankers on Order."

Attached to this Report on Form 6-K as [Exhibit 99.2](ef20053581_ex99-2.htm) is a copy of the press release of the Company dated July 30, 2025, titled "Performance Shipping Inc. Reports Financial Results for the Second Quarter and Six-Months Ended June 30, 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 and excluding Exhibit 99.2 in its entirety, 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.

---

| | |
|:---|:---|
|  | **PERFORMANCE SHIPPING INC.** |
|  | (Registrant) |
| Dated: August 8, 2025 | <u>/s/ Andreas Michalopoulos</u> |
|  | By: Andreas Michalopoulos |
|  | Chief Executive Officer |

---

------

## Exhibit 99.1

------

**Exhibit 99.1**<br>

---

| | |
|:---|:---|
|  | ***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> |
| For Immediate Release |  |
|  | ***Investor and Media Relations:*** |
|  | Edward Nebb |
|  | Comm-Counsellors, LLC |
|  | Telephone: + 1-203-972-8350 |
|  | Email: <u>enebb@optonline.net</u> |

---

**PERFORMANCE SHIPPING INC. ANNOUNCES NAMING AND DELIVERY OF M/T P. MASSPORT,**FIRST OF FOUR NEWBUILD TANKERS ON ORDER

**ATHENS, GREECE –** July 31, 2025 – Performance Shipping Inc. (NASDAQ: PSHG) ("we" or the "Company"), a global shipping company specializing in the ownership of tanker vessels, is pleased to announce the successful naming and delivery of its first LR2 Aframax newbuilding, M/T P. Massport, constructed at Shanghai Waigaoqiao Shipbuilding Co. Ltd. in the People's Republic of China. The naming ceremony was held at the shipyard, with Ms. Nicole Gummerus serving as the vessel's godmother. In line with maritime tradition, she blessed the vessel and wished her crew safe and successful voyages.

The M/T P. Massport, previously referred to as Hull H1515, is a 114,000 DWT LNG-ready Tier III product/crude oil tanker, the first of three LNG-ready, scrubber-fitted LR2 Aframax tankers ordered by the Company and scheduled for delivery between the third quarter of 2025 and early 2026. As previously announced, all three vessels have secured five-year charter contracts with Clearlake Shipping Pte Ltd (the "Charterer"), a subsidiary of the Gunvor Group, one of the world's largest independent commodities trading houses.

Following delivery to the Company, the M/T P. Massport was delivered to the Charterer. The vessel has commenced operations under the five-year time charter contract at a gross rate of US$31,000 per day, with options for a sixth and seventh year at a base rate plus profit-sharing.

Commenting on the vessel's naming and delivery, Andreas Michalopoulos, the Company's Chief Executive Officer, stated:

------

"This marks the kick-off of a series of newbuilding tanker deliveries for Performance Shipping Inc., which will see the addition of two further sister LR2 Aframax vessels through early 2026 and an LR1 tanker in early 2027. Together, these modern vessels form a core part of the Company's strategic fleet expansion and renewal plan. We are proud to introduce this state-of-the-art tanker to our fleet and honored to commence this charter with Clearlake Shipping. We would also like to express our appreciation to Shanghai Waigaoqiao Shipbuilding, one of the world's leading shipyards, for their outstanding craftsmanship and technical expertise in building this high-specification vessel. We wholeheartedly wish the M/T P. Massport and her crew fair winds and calm seas."

#### 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. 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, 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.

------

## Exhibit 99.2

------

**Exhibit 99.2**<br>

---

| | |
|:---|:---|
|  | ***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 SECOND QUARTER

#### AND SIX MONTHS ENDED JUNE 30, 2025

ATHENS, GREECE, July 30, 2025 – 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 $9.1 million and net income attributable to common stockholders of $8.6 million for the second quarter of 2025. These results are compared to a net income of $10.2 million and net income attributable to common stockholders of $9.7 million for the same period in 2024. Earnings per share, basic and diluted, for the second quarter of 2025 were $0.69 and $0.23, respectively.

Revenue was $18.1 million ($17.6 million net of voyage expenses) for the second quarter of 2025, compared to $20.5 million ($19.7 million net of voyage expenses) for the same period in 2024. This decrease was attributable to the decrease in the ownership days following the sale of the vessel *P. Yanbu* in March 2025, despite the increase in time-charter equivalent rates ("TCE rates") realized during the quarter. Fleetwide, the average TCE rate for the second quarter of 2025 was $32,295, compared with an average rate of $30,970 for the same period in 2024. During the second quarter of 2025, net cash provided by operating activities was $11.3 million, compared with net cash provided by operating activities of $14.4 million for the second quarter of 2024.

Net income for the six months ended June 30, 2025, amounted to $38.5 million, compared to a net income of $21.6 million for the six months ended June 30, 2024. Net income attributable to common stockholders for the six months ended June 30, 2025, amounted to $37.6 million, and resulted in earnings per share, basic and diluted, of $3.02 and $1.00, respectively. Net income attributable to common stockholders for the six months ended June 30, 2024, amounted to $20.7 million, and resulted in earnings per common share, basic and diluted, of $1.68 and $0.55, respectively.

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

"During the second quarter of 2025, the tanker market remained firm, supported by steady ton-mile demand and heightened volatility particularly in June due to geopolitical tensions in the Middle East. Our Company, through its balanced fleet deployment strategy and efficient vessel operations, delivered solid financial results and achieved a fleetwide average time charter equivalent (TCE) rate of $32,295 per day.

------

"This TCE rate, resulting in aggregate revenues of $18.1 million, compares favorably to the average rate of $30,970 per day during the equivalent period in 2024. This strong performance was achieved despite operating a smaller fleet and in a softer charter rate environment. Indicatively, the average Aframax tanker charter rate stood at $42,765 per day during the second quarter of 2025, representing a 16% year-over-year decline from the average daily charter rate of $51,140 per day recorded in the same period last year.

"Our Company remains committed to executing its fleet renewal and expansion strategy, aiming to acquire a younger, more competitive, and environmentally sustainable fleet. This will be pursued through a combination of our well-supported newbuilding program and selective acquisitions of secondhand vessels.

"Our financial strength, enhanced by our access to $100 million of non-dilutive and leverageable capital raised through our successful Nordic bond offering completed in July, provides significant liquidity to pursue our acquisition strategy. Our financial position remains robust, evidenced by a quarter-end -adjusted for the bond proceeds- cash position of approximately $192 million, and an aggregate secured revenue backlog of approximately $240 million.

"With a disciplined and conservative capital structure, we are well positioned to pursue fleet expansion initiatives that support long-term growth and sustainable value creation for our shareholders."

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

As of July 29, 2025, the Company had outstanding 12,432,158 common shares. In addition, the following common share purchase warrants were outstanding as of such date:

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

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

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

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

• 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.

#### Tanker Market Update for the Second Quarter of 2025:
• Tanker fleet supply was 701.6 million dwt, up 0.5% from 697.9 million dwt from the previous quarter and up 1.4% from Q2 2024 levels of 692.0 million dwt.

• Tanker demand is expected to show modest growth, with crude tanker demand supported by increased OPEC+ exports and projected DWT demand growth of 0.6% in 2025. In contrast, product tanker demand is set to decline by 0.9% in 2025, amid weak refining margins, soft oil demand, and reduced inter-basin trade. However, shifts in refining capacity and ongoing geopolitical rerouting could provide some support later in the year.

• Tanker fleet supply in deadweight terms is estimated to grow by 2.4% in 2025 and by 3.8% in 2026.

------

• Tanker fleet utilization averaged 84.6% in 2024, while analysts expect that it will slightly improve to levels of 85.2% in 2025 but decline to 83.7% in 2026.

• Newbuilding tanker contracting was 5.8 million dwt in the second quarter, resulting in a tanker orderbook-to-fleet ratio of 15.0%.

• Daily spot charter rates for Aframax tankers averaged $42,765, up 33.9% from the previous quarter average of $31,931and down 16.4% from Q2 2024 average of $51,140.

• The value of a 10-year-old Aframax tanker at the end of the second quarter was $50.0 million, unchanged from the previous quarter, and down 16.7% from $60.0 million in Q2 2024.

• The number of tankers used for floating storage (excluding dedicated storage) stood at 119 (12.3 million dwt) in the second quarter, up 15.5% from 103 (11.5 million dwt) at the end of the previous quarter and up 2.6% from 116 in Q2 2024.

• Global oil consumption was 103.2 million bpd, up 1.0% from the previous quarter level of 102.2 million bpd, and up 0.4% from Q2 2024 levels of 102.7 million bpd.

• Global oil production was 104.5 million bpd, down 1.1% from the previous quarter level of 103.4 million bpd and up 1.6% from Q2 2024 levels of 102.8 million bpd.

• OECD commercial inventories were 2,796 million barrels, up 1.7% from the previous quarter level of 2,749 million barrels, and down 1.3% from Q2 2024 levels of 2,834 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.

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **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 June 30,** | **For the three months ended June 30,** | **For the six months ended June 30,** | **For the six months ended June 30,** |
|  | **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 | $18143 | $20508 | $39476 | $42879 |
| &nbsp;&nbsp;&nbsp; Voyage expenses | 510 | 780 | 2628 | 1584 |
| &nbsp;&nbsp;&nbsp; Vessel operating expenses | 4568 | 5049 | 9037 | 9924 |
| &nbsp;&nbsp;&nbsp; Net income | 9074 | 10185 | 38501 | 21616 |
| &nbsp;&nbsp;&nbsp; Net income attributable to common stockholders | 8616 | 9727 | 37586 | 20699 |
| &nbsp;&nbsp;&nbsp; Earnings per common share, basic | 0.69 | 0.79 | 3.02 | 1.68 |
| &nbsp;&nbsp;&nbsp; Earnings per common share, diluted | 0.23 | 0.26 | 1.00 | 0.55 |
| **FLEET DATA** | **FLEET DATA** | **FLEET DATA** | **FLEET DATA** | **FLEET DATA** |
| &nbsp;&nbsp;&nbsp; Average number of vessels | 6.0 | 7.0 | 6.5 | 7.0 |
| &nbsp;&nbsp;&nbsp; Number of vessels | 6.0 | 7.0 | 6.0 | 7.0 |
| &nbsp;&nbsp;&nbsp; Ownership days | 546 | 637 | 1169 | 1274 |
| &nbsp;&nbsp;&nbsp; Available days | 546 | 637 | 1169 | 1274 |
| &nbsp;&nbsp;&nbsp; Operating days (1) | 546 | 634 | 1154 | 1258 |
| &nbsp;&nbsp;&nbsp; Fleet utilization | 100.0% | 99.5% | 98.7% | 98.7% |
| **AVERAGE DAILY RESULTS** | **AVERAGE DAILY RESULTS** | **AVERAGE DAILY RESULTS** | **AVERAGE DAILY RESULTS** | **AVERAGE DAILY RESULTS** |
| &nbsp;&nbsp;&nbsp; Time charter equivalent (TCE) rate (2) | $32295 | $30970 | $31521 | $32414 |
| &nbsp;&nbsp;&nbsp; Daily vessel operating expenses (3) | $8366 | $7926 | $7731 | $7790 |

---

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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.

------

Fleet Employment Profile (As of July 29, 2025)

Performance Shipping Inc.'s fleet is employed as follows:

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Vessel** | **Year of**<br> **Build** | **Capacity** | **Builder** | **Vessel**<br> **Type** | **Charter Type** | **Notes** |
| | **Vessel** | **Year of**<br> **Build** | **Capacity** | **Builder** | **Vessel**<br> **Type** | **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** | **Operating Aframax Tanker Vessels** |
| 1 | BLUE MOON | 2011 | 104,623 DWT | Sumitomo Heavy Industries Marine & Engineering Co., LTD. | Crude | Time-Charter |  |
| 2 | BRIOLETTE | 2011 | 104,588 DWT | Sumitomo Heavy Industries Marine & Engineering Co., LTD. | Crude | Time-Charter |  |
| 3 | P. SOPHIA | 2009 | 105,071 DWT | Hyundai Heavy Industries Co., LTD | Crude | Pool |  |
| 4 | P. ALIKI | 2010 | 105,304 DWT | Hyundai Heavy Industries Co., LTD | Product | - | 1 |
| 5 | P. MONTEREY | 2011 | 105,525 DWT | Hyundai Heavy Industries Co., LTD | Crude | Time-Charter |  |
| 6 | P. LONG BEACH | 2013 | 105,408 DWT | Hyundai Heavy Industries Co., LTD | Product | Time-Charter |  |
| 7 | P. MASSPORT<br> (ex Hull 1515) | 2025 | 114,035 DWT | China Shipbuilding Trading Company Limited and Shanghai Waigaoqiao Shipbuilding Company Limited | Product | Time-Charter |  |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Newbuilding LR1 and LR2 Tanker Vessels** | **Newbuilding LR1 and LR2 Tanker Vessels** | **Newbuilding LR1 and LR2 Tanker Vessels** | **Newbuilding LR1 and LR2 Tanker Vessels** | **Newbuilding LR1 and LR2 Tanker Vessels** | **Newbuilding LR1 and LR2 Tanker Vessels** | **Newbuilding LR1 and LR2 Tanker Vessels** |
| 8 | HULL 1596 | 114,000 DWT | China Shipbuilding Trading Co. Ltd. ("CSTC") and Shanghai Waigaoqiao Shipbuilding Co. Ltd. | Product | Time-Charter | 23 |
| 9 | HULL 1597 | 114,000 DWT | China Shipbuilding Trading Co. Ltd. ("CSTC") and Shanghai Waigaoqiao Shipbuilding Co. Ltd. | Product | Time-Charter | 23 |
| 10 | HULL 1624 | 75,000 DWT | Jiangsu Yangzijiang Shipbuilding Group Co., Ltd. | Chemical/ Product | Time-Charter | 23 |

---

<sup>1</sup> The vessel P. Aliki is presently undergoing its scheduled special survey.

<sup>2</sup> As previously announced, the Company has secured time charter contracts for all of its newbuilding vessels, with employment to commence upon delivery of the vessels to the Company.

<sup>3</sup> Expected delivery dates to the Company, as per current management's estimations, are: September 2025 for Hull 1596, January 2026 for Hull 1597, and January 2027 for Hull 1624.

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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, 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.

(See financial tables attached)

------

#### PERFORMANCE SHIPPING INC.

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

#### UNAUDITED INTERIM CONSOLIDATED STATEMENTS OF OPERATIONS

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **For the three months ended June 30,** | **For the three months ended June 30,** | **For the six months ended June 30,** | **For the six months ended June 30,** |
|  | **2025** | **2024** | **2025** | **2024** |
| **REVENUE:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Revenue | $18143 | $20508 | $39476 | $42879 |
| **EXPENSES:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Voyage expenses | 510 | 780 | 2628 | 1584 |
| &nbsp;&nbsp;&nbsp; Vessel operating expenses | 4568 | 5049 | 9037 | 9924 |
| &nbsp;&nbsp;&nbsp; Depreciation and amortization of deferred charges | 3147 | 3300 | 6475 | 6600 |
| &nbsp;&nbsp;&nbsp; General and administrative expenses | 1752 | 1579 | 3856 | 3703 |
| &nbsp;&nbsp;&nbsp; Gain on vessel's sale | - | - | (19456) | - |
| &nbsp;&nbsp;&nbsp;&nbsp;(Reversal) / Provision for credit losses | (3) | (7) | 27 | (7) |
| &nbsp;&nbsp;&nbsp; Foreign currency losses | 69 | - | 69 | 10 |
| &nbsp;&nbsp;&nbsp; **Operating income** | $8100 | $9807 | $36840 | $21065 |
| **OTHER INCOME / (EXPENSES):** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Interest and finance costs | (44) | (443) | (78) | (1108) |
| &nbsp;&nbsp;&nbsp; Interest income | 1020 | 817 | 1737 | 1649 |
| &nbsp;&nbsp;&nbsp; Changes in fair value of warrants' liability | (2) | 4 | 2 | 10 |
| &nbsp;&nbsp;&nbsp; **Total other income, net** | $974 | $378 | $1661 | $551 |
| **Net income** | $9074 | $10185 | $38501 | $21616 |
| Dividends on preferred stock | (458) | (458) | (915) | (917) |
| **Net income attributable to common stockholders** | $8616 | $9727 | $37586 | $20699 |
| **Earnings per common share, basic** | $0.69 | $0.79 | $3.02 | $1.68 |
| **Earnings per common share, diluted** | $0.23 | $0.26 | $1.00 | $0.55 |
| **Weighted average number of common shares, basic** | 12432158 | 12316214 | 12432158 | 12297945 |
| **Weighted average number of common shares, diluted** | 38667584 | 39362532 | 38667584 | 39215897 |

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UNAUDITED INTERIM CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **For the three months ended June 30,** | **For the three months ended June 30,** | **For the six months ended June 30,** | **For the six months ended June 30,** |
|  | **2025** | **2024** | **2025** | **2024** |
| **Net income** | $9074 | $10185 | $38501 | $21616 |
| **Comprehensive income** | $9074 | $10185 | $38501 | $21616 |

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

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| | | |
|:---|:---|:---|
|  | **June 30, 2025** | **December 31, 2024\*** |
| **<u>ASSETS</u>** | (unaudited) |  |
| Cash, cash equivalents and restricted cash | $96783 | $71314 |
| Advances for vessels under construction and other vessels' costs | 92301 | 58468 |
| Vessels, net | 166090 | 189577 |
| Other fixed assets, net | 27 | 34 |
| Other assets | 8599 | 11000 |
| **Total assets** | $363800 | $330393 |
| **<u>LIABILITIES AND STOCKHOLDERS' EQUITY</u>** |  |  |
| Long-term bank debt, net of unamortized deferred financing costs | $43739 | $47459 |
| Other liabilities | 7232 | 7691 |
| Total stockholders' equity | 312829 | 275243 |
| **Total liabilities and stockholders' equity** | $363800 | $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

#### <br>

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **For the three months ended June 30,** | **For the three months ended June 30,** | **For the six months ended June 30,** | **For the six months ended June 30,** |
|  | **2025** | **2024** | **2025** | **2024** |
|  | (unaudited) | (unaudited) | (unaudited) | (unaudited) |
| Net Cash provided by Operating Activities | $11309 | $14353 | $26847 | $31693 |
| Net Cash provided by / (used in) Investing Activities | $(20001) | $(10175) | $3303 | $(32690) |
| Net Cash used in Financing Activities | $(2798) | $(2184) | $(4681) | $(4526) |

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