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Performance Shipping ( (PSHG) ) has provided an update.
On March 2, 2026, Performance Shipping Inc. announced it has signed shipbuilding contracts via two wholly owned subsidiaries with China Shipbuilding Trading Co. and Shanghai Waigaoqiao Shipbuilding for two 158,000 DWT Suezmax tankers. The vessels, priced at $81.5 million each, are scheduled for delivery in October 2028 and May 2029, with payments staggered across construction milestones and final delivery.
The deal will double the company’s Suezmax exposure, complementing a fleet currently concentrated in Aframax/LR2 vessels and two existing Suezmaxes. Management highlighted favorable long-term market fundamentals, an aging and largely non-eco global Suezmax fleet, and its established relationship with SWS, noting that the Tier III, scrubber-fitted, fuel-efficient ships should bolster the company’s competitive positioning and long-term earnings potential.
The most recent analyst rating on (PSHG) stock is a Buy with a $5.00 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. is a Greece-based global shipping company focused on the transportation of petroleum products through its ownership of tanker vessels. The company primarily operates Aframax/LR2 and Suezmax tankers, employing its fleet on spot voyages, in pooling arrangements and under time charter contracts in international energy trade routes.
Average Trading Volume: 92,706
Technical Sentiment Signal: Sell
Current Market Cap: $29.46M
Learn more about PSHG stock on TipRanks’ Stock Analysis page.