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Performance Shipping ( (PSHG) ) just unveiled an update.
On April 16, 2026, Athens-based Performance Shipping Inc. announced it has signed long-term time charter agreements with Repsol Trading S.A. for two 158,000 dwt Suezmax tanker newbuildings under construction in China. The vessels, fitted with scrubbers and designed to be fuel-efficient and environmentally friendly, are scheduled for delivery in October 2028 and May 2029 and will begin their respective charters upon delivery.
The first tanker has been fixed for seven years at a daily hire rate of $35,000, while the second will trade for five years at $36,850 per day, both payable monthly in advance. These contracts are expected to cover the majority of the vessels’ acquisition cost and lift Performance Shipping’s total contracted fleetwide revenue to about $471 million, extending average contract duration to 2.8 years and securing a high percentage of chartered days through 2030, which enhances earnings visibility and reduces breakeven charter-rate requirements for remaining open days.
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 specializing in the ownership of tanker vessels. The company employs its fleet on spot voyages, through pool arrangements, and on time charters, focusing on seaborne transport of petroleum and related products across international markets.
Average Trading Volume: 134,182
Technical Sentiment Signal: Sell
Current Market Cap: $23.62M
Learn more about PSHG stock on TipRanks’ Stock Analysis page.