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Performance Shipping ( (PSHG) ) has provided an update.
On March 17, 2026, Performance Shipping Inc. said it had secured a sale and leaseback agreement with an unaffiliated financier for its LR1 newbuilding tanker M/T P. San Francisco, now under construction in China and scheduled for delivery in early 2027. The US$37.8 million bareboat facility will run for 10 years with monthly payments equal to US$5,451 per day and a balloon of about US$18.1 million, and includes options for the company to repurchase the vessel after the second year.
The deal finances roughly 70% of the tanker’s contract price, keeping leverage moderate and setting a cashflow breakeven at US$22,200 per day, according to the company. With the ship already fixed to Mercuria Energy Trading S.A. for a firm four-year charter at US$23,750 per day plus extension options, the structure locks in earnings above breakeven and supports Performance Shipping’s broader strategy of fleet renewal, disciplined deployment and conservative balance sheet management.
The most recent analyst rating on (PSHG) stock is a Buy with a $6.50 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. is a global provider of shipping transportation services focused on tanker vessels, listed on Nasdaq under the ticker PSHG. The Athens-based company deploys its fleet on spot voyages, through pool arrangements and on time charters, targeting demand for seaborne transportation of petroleum and related products.
Average Trading Volume: 118,402
Technical Sentiment Signal: Sell
Current Market Cap: $25.86M
Find detailed analytics on PSHG stock on TipRanks’ Stock Analysis page.