Performance Shipping Locks In Three-Year, $31,000-Per-Day Charter for Aframax Tanker

Performance Shipping ( (PSHG) ) has shared an announcement.

On January 20, 2026, Performance Shipping Inc. announced that a wholly owned subsidiary had entered into a three-year time charter with PBF Holding Company LLC, a subsidiary of PBF Energy, for the 105,525 dwt Aframax tanker M/T P. Monterey at a gross rate of $31,000 per day. The charter, expected to begin in mid-February, is estimated to generate about $33 million in gross revenue over its minimum term and lifts the company’s aggregate contracted revenue backlog to a record roughly $349 million as of January 1, 2026, reinforcing cash flow visibility and supporting its strategy of securing medium- to long-term employment with strong counterparties.

The most recent analyst rating on (PSHG) stock is a Buy with a $2.50 price target. To see the full list of analyst forecasts on Performance Shipping stock, see the PSHG Stock Forecast page.

Spark’s Take on PSHG Stock

According to Spark, TipRanks’ AI Analyst, PSHG is a Outperform.

Performance Shipping’s stock is supported by strong valuation metrics and positive technical indicators. However, financial performance is mixed due to revenue decline and unclear cash flow data, which slightly dampens the overall score.

To see Spark’s full report on PSHG stock, click here.

More about Performance Shipping

Performance Shipping Inc., based in Athens, Greece and listed on Nasdaq, is a global provider of shipping transportation services focused on tanker vessels. The company employs its fleet through a mix of time charters and spot voyages, including pool arrangements, serving energy-sector counterparties that require seaborne transport of petroleum and related products.

Average Trading Volume: 135,195

Technical Sentiment Signal: Sell

Current Market Cap: $25.49M

See more insights into PSHG stock on TipRanks’ Stock Analysis page.