Performance Shipping Inc. (PSHG) has released an update.
Claim 30% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Performance Shipping Inc. has announced a new contract for constructing a modern eco-design LR1 tanker at a cost of $54.1 million, expected to be delivered by January 2027. The vessel will feature advanced engines and emission systems, including scrubbers and ballast water treatment, reflecting the company’s commitment to environmentally sustainable operations. This move is part of a broader growth strategy, backed by a $203.9 million revenue backlog, that aims to align with favorable market conditions and an aging fleet.
For further insights into PSHG stock, check out TipRanks’ Stock Analysis page.