Performance Shipping Inc. Files 6-K Report

TL;DR

PSHG filed its 6-K for Q2 2024, showing preferred and common stock details. No major surprises.

AI Summary

Performance Shipping Inc. filed a 6-K report for the period ending June 30, 2024. The filing includes financial data and details related to its preferred and common stock. The company was formerly known as Diana Containerships Inc. and changed its name on January 15, 2010.

Why It Matters

This filing provides an update on the company's financial status and corporate structure, which is important for investors to assess the company's performance and future prospects.

Risk Assessment

Risk Level: low — The filing is a routine 6-K report providing financial updates and corporate information, not indicating any immediate or significant new risks.

Key Players & Entities

• Performance Shipping Inc. (company) — Filer
• Diana Containerships Inc. (company) — Former company name
• 2024-06-30 (date) — Period of report
• 2024-07-26 (date) — Filing date

FAQ

Key Financial Figures

• $350 — mated scrap rate, which is estimated at $350 per light-weight ton for all vessels in
• $51.5 million — aggregate outstanding debt, amounted to $51.5 million. We expect to manage any exposure in in
• $21 — months ended June 30, 2024, amounted to $21 . 6 million, compared to net income of
• $34 — . 6 million, compared to net income of $34 . 1 million for the same period in 2023
• $42 — months ended June 30, 2024, amounted to $42 . 9 million, compared to $61 .0 million
• $61 — mounted to $42 . 9 million, compared to $61 .0 million for the same period in 2023.
• $32,414 — quivalent rates (TCE rates), which were $32,414 in the six months ended June 30, 2024,
• $41,526 — ths ended June 30, 2024, as compared to $41,526 in the comparative period. The decrease
• $1 — months ended June 30, 2024, amounted to $1 . 6 million, compared to $2 . 5 million
• $2 — amounted to $1 . 6 million, compared to $2 . 5 million for the same period in 2023
• $9 — months ended June 30, 2024, amounted to $9 . 9 million, compared to $10 . 3 millio
• $10 — amounted to $9 . 9 million, compared to $10 . 3 million for the same period of 2023
• $3 — months ended June 30, 2024, amounted to $3 . 7 million, compared to $3 . 4 million
• $6 — months ended June 30, 2024, amounted to $6 . 6 million, compared to $7 . 5 million
• $7 — amounted to $6 . 6 million, compared to $7 . 5 million for the same period in 2023

Filing Documents

• ef20031107_6k.htm (6-K) — 1236KB
• 0001140361-24-034326.txt ( ) — 6851KB
• pshg-20240630.xsd (EX-101.SCH) — 56KB
• pshg-20240630_cal.xml (EX-101.CAL) — 65KB
• pshg-20240630_def.xml (EX-101.DEF) — 323KB
• pshg-20240630_lab.xml (EX-101.LAB) — 799KB
• pshg-20240630_pre.xml (EX-101.PRE) — 469KB
• ef20031107_6k_htm.xml (XML) — 889KB

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: July 26, 2024 /s/ Andreas Michalopoulos By: Andreas Michalopoulos Chief Executive Officer Exhibit 99.1 Performance Shipping Inc. Unless otherwise specified herein, references to the "Company" or "we", "us" and "our" shall include Performance Shipping Inc. and its subsidiaries. The following management's discussion and analysis should be read in conjunction with our interim unaudited consolidated financial statements and their notes attached hereto. This discussion contains forward-looking statements that reflect our current views with respect to future events and financial performance. Our actual results may differ materially from those anticipated in these forward-looking statements. For additional information relating to our management's discussion and analysis of financial condition and results of operations, please see our annual report on Form 20-F for the year ended December 31, 2023 filed with the Securities and Exchange Commission (the "SEC") on March 28, 2024 .

Management's Discussion and Analysis of Financial Condition

Management's Discussion and Analysis of Financial Condition and Results of Operations for the Six Months Ended June 30, 2024 Our Operations We have historically chartered our vessels to customers primarily pursuant to short-term and long-term time charters and on spot voyages, and also through pool arrangements. Under our time charters, the charterer typically pays us a fixed daily charter hire rate and bears all voyage expenses, including the cost of bunkers (fuel oil) and port and canal charges. Under spot charter arrangements, voyage expenses that are unique to a particular charter are paid for by us. Under our pool arrangements, the pool manager charters our vessels, prices the charters, and is required to pay all voyage costs, including port charges, fuel and canal tolls and to collect receivables. We receive a portion of the total revenues generated by the pool, net of expenses incurred by the pool, and the amount allocated to our participating vessel, is determined in accordance with an agreed-upon formula determined by the margins allocated to our participating vessel based on her age, design and other performance characteristics. In all three types of charters, we remain responsible for paying the chartered vessel's operating expenses, including the cost of crewing, insuring, repairing and maintaining the vessel, the costs of spares and consumable stores, tonnage taxes, environmental costs, and other miscellaneous expenses. We also pay commissions to unaffiliated shipbrokers, and to related party brokers when they are involved, for the arrangement of the relevant charter. Factors affecting our results of operations We believe that the important measures for analyzing trends in our results of operations consist of the following:

View Full Filing

View this 6-K filing on SEC EDGAR