Performance Shipping Lands 5-Year Charters for 3 Vessels
Ticker: PSHG · Form: 6-K · Filed: Mar 26, 2024 · CIK: 1481241
| Field | Detail |
|---|---|
| Company | Performance Shipping Inc. (PSHG) |
| Form Type | 6-K |
| Filed Date | Mar 26, 2024 |
| Risk Level | medium |
| Pages | 1 |
| Reading Time | 1 min |
| Key Dollar Amounts | $31,000 |
| Sentiment | bullish |
Sentiment: bullish
Topics: charter-contracts, newbuilding, shipping, revenue
TL;DR
PERF inks 5-yr charters w/ Clearlake for 3 newbuilds at $31k/day each. Big revenue incoming!
AI Summary
Performance Shipping Inc. announced on March 12, 2024, that it has secured five-year time charter contracts with Clearlake for three newbuilding vessels. The contracts are valued at US$31,000 per vessel per day, generating significant revenue over the charter period.
Why It Matters
These long-term contracts provide Performance Shipping with stable and predictable revenue streams, enhancing financial visibility and potentially increasing shareholder value.
Risk Assessment
Risk Level: medium — While the long-term contracts offer stability, the shipping industry is subject to cyclical market conditions and geopolitical risks that can impact profitability.
Key Numbers
- 3 — Newbuilding Vessels (Number of vessels secured under new charter contracts.)
- 5-Year — Charter Duration (Length of the time charter contracts.)
- US$31,000 — Daily Rate (Revenue per vessel per day.)
Key Players & Entities
- Performance Shipping Inc. (company) — Registrant and charterer
- Clearlake (company) — Chartering counterparty
- US$31,000 (dollar_amount) — Daily charter rate per vessel
- March 12, 2024 (date) — Date of press release
FAQ
What is the total potential revenue from these charter contracts?
The filing does not provide a total potential revenue figure, but states three newbuilding vessels are chartered for five years at US$31,000 per vessel per day.
When did Performance Shipping Inc. announce these charter contracts?
The press release announcing these contracts was dated March 12, 2024.
Who is the counterparty for these time charter contracts?
The counterparty is Clearlake.
What type of vessels are involved in these contracts?
The contracts are for three newbuilding vessels.
What is the duration of these charter contracts?
The charter contracts are for a period of five years.
Filing Stats: 283 words · 1 min read · ~1 pages · Grade level 11.1 · Accepted 2024-03-26 16:30:17
Key Financial Figures
- $31,000 — lake For Three Newbuilding Vessels At US$31,000 Per Vessel Per Day." The information c
Filing Documents
- ef20025092_6k.htm (6-K) — 8KB
- ef20025092_ex99-1.htm (EX-99.1) — 12KB
- 0001140361-24-015287.txt ( ) — 21KB
SIGNATURES
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 26, 2024 /s/ Andreas Michalopoulos By: Andreas Michalopoulos Chief Executive Officer