<SEC-DOCUMENT>0000919574-20-003739.txt : 20200518
<SEC-HEADER>0000919574-20-003739.hdr.sgml : 20200518
<ACCEPTANCE-DATETIME>20200518140555
ACCESSION NUMBER:		0000919574-20-003739
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20200531
FILED AS OF DATE:		20200518
DATE AS OF CHANGE:		20200518

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Performance Shipping Inc.
		CENTRAL INDEX KEY:			0001481241
		STANDARD INDUSTRIAL CLASSIFICATION:	DEEP SEA FOREIGN TRANSPORTATION OF FREIGHT [4412]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			1T
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-35025
		FILM NUMBER:		20888786

	BUSINESS ADDRESS:	
		STREET 1:		PENDELIS 18
		STREET 2:		17564 PALAIO FALIRO
		CITY:			ATHENS
		STATE:			J3
		ZIP:			17564
		BUSINESS PHONE:		302166002400

	MAIL ADDRESS:	
		STREET 1:		PENDELIS 18
		STREET 2:		17564 PALAIO FALIRO
		CITY:			ATHENS
		STATE:			J3
		ZIP:			17564

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Diana Containerships Inc.
		DATE OF NAME CHANGE:	20100115
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>d8541179_6-k.htm
<TEXT>
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    <div style="text-align: center; font-family: 'Times New Roman', serif; font-weight: bold;">FORM 6-K</div>
    <div style="text-align: center; font-family: 'Times New Roman', serif; font-weight: bold;">SECURITIES AND EXCHANGE COMMISSION<br>
      <font style="font-family: 'Times New Roman Bold', 'Times New Roman', serif;">WASHINGTON</font>, D.C. 20549</div>
    <div><br>
    </div>
    <div style="text-align: center; font-family: 'Times New Roman', serif; font-weight: bold;">REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13A-16 OR 15D-16 OF THE SECURITIES EXCHANGE ACT OF 1934</div>
    <div><br>
    </div>
    <div style="text-align: center; font-family: 'Times New Roman', serif;">For the month of May 2020</div>
    <div style="text-align: center; font-family: 'Times New Roman', serif;">Commission File Number: 001-35025</div>
    <div><br>
    </div>
    <div style="text-align: center; font-family: 'Times New Roman', serif;"><font style="font-weight: bold;">PERFORMANCE SHIPPING INC.</font><br>
      (Translation of registrant's name into English)</div>
    <div style="text-align: center; font-family: 'Times New Roman', serif;">Pendelis 18, 175 64 Palaio Faliro, Athens, Greece<br>
      (Address of principal executive office)</div>
    <div><br>
    </div>
    <div style="text-align: justify; font-family: 'Times New Roman', serif;">Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.</div>
    <div><br>
    </div>
    <div style="text-align: justify; font-family: 'Times New Roman', serif;">Form 20-F [X]&#160; &#160; &#160;&#160; Form 40-F [&#160; ]</div>
    <div><br>
    </div>
    <div style="text-align: justify; font-family: 'Times New Roman', serif;">Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): [&#160; ].</div>
    <div><br>
    </div>
    <div style="text-align: justify; font-family: 'Times New Roman', serif;"><font style="font-weight: bold;">Note</font>: Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual
      report to security holders.</div>
    <div><br>
    </div>
    <div style="text-align: justify; font-family: 'Times New Roman', serif;">Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): [&#160; ].</div>
    <div><br>
    </div>
    <div style="text-align: justify; font-family: 'Times New Roman', serif;"><font style="font-weight: bold;">Note</font>: Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submitted to furnish a report or other document
      that the registrant foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant's "home country"), or under the rules of the home
      country exchange on which the registrant's securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant's security holders, and, if discussing a material
      event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR.</div>
    <div><br>
    </div>
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    <div style="text-align: center; font-family: 'Times New Roman', serif; font-weight: bold;">INFORMATION CONTAINED IN THIS FORM 6-K REPORT</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', serif;">Attached to this Report on Form 6-K as Exhibit 99.1 is a press release dated May 18, 2020 of Performance Shipping Inc. (the &#8220;Company&#8221;) announcing the Company's
      financial results for the first quarter ended March 31, 2020.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', serif;">The information contained in this Report on Form 6-K, excluding the included quote by Mr. Andreas Michalopoulos, is hereby incorporated by reference into the
      Company's registration statement on Form F-3 (File no. 333-197740), filed with the U.S. Securities and Exchange Commission (the "SEC") with an effective date of August 13, 2014, and the Company's registration statement on Form F-3 (File No.
      333-237637), filed with the SEC with an effective date&#160;of April 23, 2020.</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
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    <div style="background-color: #FFFFFF;">
      <div style="text-align: center; font-family: 'Times New Roman', serif; font-weight: bold;">SIGNATURES</div>
      <div><br>
      </div>
    </div>
    <div style="background-color: #FFFFFF;">
      <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif;">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned,
        thereunto duly authorized.</div>
      <div><br>
      </div>
    </div>
    <div><br>
    </div>
    <div style="text-align: center; font-family: 'Times New Roman', serif; font-weight: bold;">PERFORMANCE SHIPPING INC.</div>
    <div style="text-align: center; font-family: 'Times New Roman', serif;">(registrant)</div>
    <div><br>
    </div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z235e53f693d94ad6ac6d7e72afecd828">

        <tr>
          <td style="width: 53.99%; vertical-align: top;">
            <div style="text-align: justify; font-family: 'Times New Roman', serif;">Dated: May 18, 2020</div>
          </td>
          <td style="width: 6.36%; vertical-align: top;">
            <div style="text-align: justify; font-family: 'Times New Roman', serif;">By:</div>
          </td>
          <td style="width: 39.65%; vertical-align: top;">
            <div style="text-align: justify; font-family: 'Times New Roman', serif;"><u>/s/ </u><font style="background-color: #FFFFFF; color: #000000;"><u>Andreas Michalopoulos</u></font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 53.99%; vertical-align: top;">&#160;</td>
          <td style="width: 6.36%; vertical-align: top;">&#160;</td>
          <td style="width: 39.65%; vertical-align: top;">
            <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif;"><font style="background-color: #FFFFFF;">Andreas Michalopoulos</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 53.99%; vertical-align: top;">&#160;</td>
          <td style="width: 6.36%; vertical-align: top;">&#160;</td>
          <td style="width: 39.65%; vertical-align: top;">
            <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif;"><font style="background-color: #FFFFFF;">Chief Financial Officer</font></div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="text-align: right;"><br>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
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    </div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div style="text-align: right; font-family: 'Times New Roman', serif;"><u>Exhibit 99.1</u></div>
    <div>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z3ba6d3c438fa482681221ecf8c1f5f99">

          <tr>
            <td style="width: 50%; vertical-align: top;">&#160;</td>
            <td style="width: 50%; vertical-align: top;">
              <div style="text-align: justify; font-family: 'Times New Roman', serif; font-style: italic; font-weight: bold;">Corporate Contact:</div>
            </td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: top;">&#160;</td>
            <td style="width: 50%; vertical-align: top;">
              <div style="text-align: justify; font-family: 'Times New Roman', serif;">Andreas Michalopoulos</div>
            </td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: top;">&#160;</td>
            <td style="width: 50%; vertical-align: top;">
              <div style="text-align: justify; font-family: 'Times New Roman', serif;">Deputy Chief Executive Officer,</div>
            </td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: top;">&#160;</td>
            <td style="width: 50%; vertical-align: top;">
              <div style="text-align: justify; font-family: 'Times New Roman', serif;">Chief Financial Officer, Treasurer and Secretary</div>
            </td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: top;">&#160;</td>
            <td style="width: 50%; vertical-align: top;">
              <div style="text-align: justify; font-family: 'Times New Roman', serif;">Telephone: + 30-216-600-2400</div>
            </td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: top;">&#160;</td>
            <td style="width: 50%; vertical-align: top;">
              <div style="font-family: 'Times New Roman', serif;">Email: <font style="color: #0000FF;"><u>amichalopoulos@pshipping.com</u></font><br>
                Website: <font style="color: #0000FF;"><u>www.pshipping.com</u></font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: top;">
              <div style="text-align: justify; font-family: 'Times New Roman', serif;"><u>For Immediate Release</u></div>
            </td>
            <td style="width: 50%; vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: top;">&#160;</td>
            <td style="width: 50%; vertical-align: top;">
              <div style="text-align: justify; font-family: 'Times New Roman', serif; font-style: italic; font-weight: bold;">Investor and Media Relations:</div>
            </td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: top;">&#160;</td>
            <td style="width: 50%; vertical-align: top;">
              <div style="text-align: justify; font-family: 'Times New Roman', serif;">Edward Nebb</div>
            </td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: top;">&#160;</td>
            <td style="width: 50%; vertical-align: top;">
              <div style="text-align: justify; font-family: 'Times New Roman', serif;">Comm-Counsellors, LLC</div>
            </td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: top;">&#160;</td>
            <td style="width: 50%; vertical-align: top;">
              <div style="text-align: justify; font-family: 'Times New Roman', serif;">Telephone: + 1-203-972-8350</div>
            </td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: top;">&#160;</td>
            <td style="width: 50%; vertical-align: top;">
              <div style="text-align: justify; font-family: 'Times New Roman', serif;">Email: <font style="color: #0000FF;"><u>enebb@optonline.net</u></font></div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <div style="text-align: center; font-family: 'Times New Roman', serif; font-weight: bold;">PERFORMANCE SHIPPING INC. REPORTS FINANCIAL RESULTS</div>
      <div style="text-align: center; font-family: 'Times New Roman', serif; font-weight: bold;">FOR THE FIRST QUARTER ENDED MARCH 31, 2020</div>
      <div><br>
      </div>
      <div style="text-align: justify; margin-bottom: 10pt; font-family: 'Times New Roman', serif;">ATHENS, GREECE, May 18, 2020 &#8211; Performance Shipping Inc. (NASDAQ: PSHG) (the &#8220;Company&#8221;), a global shipping company specializing in the ownership of vessels,
        today reported net income of $1.3 million for the first quarter of 2020, compared to a net loss of $0.2 million for the same period in 2019. Net income attributable to common stockholders for the first quarter of 2020 amounted to $2.8 million, and
        earnings per common share, basic and diluted, for the same period were $0.06 (if adjusted for the effect of a one-time gain of $1.5 million derived from the repurchase of the Series C preferred shares, the earnings per share would have been $0.03).
        Net loss attributable to common stockholders for the first quarter of 2019 was $0.2 million, and loss per share for the same period was $0.01.</div>
      <div style="text-align: justify; margin-bottom: 10pt; font-family: 'Times New Roman', serif;">Voyage and time charter revenues were $13.5 million ($9.2 million net of voyage expenses) for the first quarter of 2020, compared to $5.5 million ($5.2
        million net of voyage expenses) for the same period in 2019. This increase was mainly attributable to the increased time-charter equivalent rates (TCE rates) contributed by the Company&#8217;s Aframax tanker vessels M/T Blue Moon, M/T Briolette and M/T
        P. Fos. Fleet-wide, the average time charter equivalent rate for the first quarter of 2020 was $21,386, compared with an average rate of $14,419 for the same period of 2019. As a result, during the first quarter of 2020, net cash provided by
        operating activities was $7.1 million, compared with $8,000 for the first quarter of 2019.</div>
      <div style="text-align: justify; margin-bottom: 10pt; font-family: 'Times New Roman', serif; font-weight: bold;"><u>Other First Quarter 2020 Developments:</u></div>
      <div style="text-align: justify;">
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zdb8b1f60f8724a9e9cbd4b7a99bab7b3">

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                <td style="width: 18pt;"><br>
                </td>
                <td style="width: 18pt; vertical-align: top; align: right;">&#8226;</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div style="font-family: 'Times New Roman', serif;">Delivery of the Aframax tanker M/T P. Fos in January 2020</div>
                </td>
              </tr>

          </table>
        </div>
      </div>
      <div style="text-align: justify;">
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z743f77bf01ff4499a5fe3634f729fe55">

              <tr>
                <td style="width: 18pt;"><br>
                </td>
                <td style="width: 18pt; vertical-align: top; align: right;">&#8226;</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div style="font-family: 'Times New Roman', serif;">Acquisition and delivery in March 2020 of the Aframax tanker M/T P. Kikuma</div>
                </td>
              </tr>

          </table>
        </div>
      </div>
      <div style="text-align: justify;">
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zb286faa1df3549cbb9166fa5ae11ddca">

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                <td style="width: 18pt;"><br>
                </td>
                <td style="width: 18pt; vertical-align: top; align: right;">&#8226;</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div style="font-family: 'Times New Roman', serif;">Agreement for the sale of the containership M/V Rotterdam in January 2020</div>
                </td>
              </tr>

          </table>
        </div>
      </div>
      <div style="text-align: justify;">
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z23fb9a5a9c444790aaf3ddfdc3739f3d">

              <tr>
                <td style="width: 18pt;"><br>
                </td>
                <td style="width: 18pt; vertical-align: top; align: right;">&#8226;</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div style="font-family: 'Times New Roman', serif;">Loan drawdown of $26.0 million in aggregate from Nordea Bank Abp, Filial i Norge to support the acquisition cost of the M/T P. Fos and the M/T P. Kikuma</div>
                </td>
              </tr>

          </table>
        </div>
      </div>
      <div style="text-align: justify;">
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zd7c1f571d37a487a9c075eea0f4f8354">

              <tr>
                <td style="width: 18pt;"><br>
                </td>
                <td style="width: 18pt; vertical-align: top; align: right;">&#8226;</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div style="font-family: 'Times New Roman', serif;">Establishment of a Share Repurchase Program for up to $6.0 million of common shares</div>
                </td>
              </tr>

          </table>
        </div>
      </div>
      <div style="text-align: justify;">
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z48dc9169a5ce49e9a9e014f741991b44">

              <tr>
                <td style="width: 18pt;"><br>
                </td>
                <td style="width: 18pt; vertical-align: top; align: right;">&#8226;</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div style="font-family: 'Times New Roman', serif;">Repurchase and cancellation of 452,768 common shares under the Share Repurchase Program</div>
                </td>
              </tr>

          </table>
        </div>
      </div>
      <div style="text-align: justify;">
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="ze8af1e183668410f8e29cbfbdd52163f">

              <tr>
                <td style="width: 18pt;"><br>
                </td>
                <td style="width: 18pt; vertical-align: top; align: right;">&#8226;</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div style="font-family: 'Times New Roman', serif;">Issuance of 1,352,152 common shares pursuant to conversions of Series B-2 preferred shares</div>
                </td>
              </tr>

          </table>
        </div>
      </div>
      <div style="text-align: justify;">
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z9e5f9882b1ce4dc78f73b54e6657e9bf">

              <tr>
                <td style="width: 18pt;"><br>
                </td>
                <td style="width: 18pt; vertical-align: top; align: right;">&#8226;</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div style="font-family: 'Times New Roman', serif;">Repurchase and cancellation of all outstanding Series C preferred voting shares.</div>
                </td>
              </tr>

          </table>
        </div>
      </div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
        <div style="page-break-after:always;" id="DSPFPageBreak">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <div style="margin-bottom: 10pt;"><br>
      </div>
      <div style="margin-bottom: 10pt;"><br>
      </div>
      <div style="text-align: justify; margin-bottom: 10pt; font-family: 'Times New Roman', serif; font-weight: bold;"><u>Subsequent Developments:</u></div>
      <div style="text-align: justify;">
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zd5a8b3cbd0e240fd8ee6858ef6a83057">

              <tr>
                <td style="width: 18pt;"><br>
                </td>
                <td style="width: 18pt; vertical-align: top; align: right;">&#8226;</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div style="font-family: 'Times New Roman', serif;">Delivery of the containership M/V Rotterdam to her new owners in April 2020</div>
                </td>
              </tr>

          </table>
        </div>
      </div>
      <div style="text-align: justify;">
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z40a769a3b7d944a689a354537cbaa195">

              <tr>
                <td style="width: 18pt;"><br>
                </td>
                <td style="width: 18pt; vertical-align: top; align: right;">&#8226;</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div style="font-family: 'Times New Roman', serif;">Issuance of 600,000 common shares pursuant to conversions of Series B-2 preferred shares</div>
                </td>
              </tr>

          </table>
        </div>
      </div>
      <div style="text-align: justify;">
        <div>
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                  <div style="font-family: 'Times New Roman', serif;">Repurchase and cancellation of all remaining Series B-2 preferred shares in April 2020</div>
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      <div style="text-align: justify; margin-bottom: 10pt; font-family: 'Times New Roman', serif;">Commenting on the results of the first quarter of 2020, Mr. Andreas Michalopoulos, the Company&#8217;s Deputy Chief Executive Officer stated:</div>
      <div style="text-align: justify; margin-bottom: 10pt; font-family: 'Times New Roman', serif;">&#8220;We are very excited about Performance Shipping Inc.&#8217;s tanker presence, which increased further during the first quarter and resulted in our second
        consecutive quarter of profitability on an adjusted net income basis. We started the year with two Aframax tankers and two containerships and moved into the second quarter with four Aframax tankers and one containership. During the first quarter of
        2020, we redeemed all of our Series C voting shares, and in April 2020, we canceled the outstanding Series B-2 convertible preferred shares. This marked an important step in simplifying our outstanding securities as we now only have shares of
        common stock outstanding. Following the delivery of the M/V Rotterdam to her buyer in April 2020, we now have approximately $30.5 million in cash, paving the way to acquire a fifth Aframax tanker and become a pure tanker owning company. We believe
        that our independent management team, transparent structure, and corporate governance, coupled with the adherence to our strategy, will, in time, result in our common shares trading in line with their intrinsic value.&#8221;</div>
      <div style="text-align: justify; margin-bottom: 10pt; font-family: 'Times New Roman', serif;">On March 11, 2020, the World Health Organization declared the recent novel coronavirus (&#8220;Covid-19&#8221;) outbreak a pandemic. In response to the outbreak, many
        countries, ports and organizations, including those where the Company conducts a large part of its operations, have implemented measures to combat the outbreak, such as quarantines and travel restrictions. Such measures have, and will likely
        continue to, negatively affect the global economy. Any prolonged restrictive measures in order to control the spread of Covid-19, or other adverse public health developments in Asia or in other geographies in which the Company&#8217;s vessels operate,
        may significantly impact the demand for the Company&#8217;s vessels. The extent to which Covid-19 will impact the Company&#8217;s results of operations and financial condition will depend on future developments, which are highly uncertain and cannot be
        predicted, including new information which may emerge concerning the severity of the virus and the actions to contain or treat its impact, among others. Accordingly, an estimate of the impact cannot be made at this time. However, if the Covid-19
        pandemic worsens, additional restrictions are imposed, or current restrictions are imposed for a longer period of time in response to the outbreak, it may have a material adverse effect on the Company&#8217;s future results of operation and financial
        condition.</div>
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
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            <td valign="bottom" style="vertical-align: bottom;">&#160;</td>
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              <div style="text-align: center; color: #000000; font-family: 'Times New Roman', serif; font-weight: bold;"> 2020</div>
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            <td valign="bottom" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
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            <td valign="bottom" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
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            <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-left: 1%; width: 76%; background-color: #CCEEFF;">
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            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
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            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
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            <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-left: 1%; width: 76%; background-color: #FFFFFF;">
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            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">4,308</div>
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">278</div>
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
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          <tr>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-left: 1%; width: 76%; background-color: #CCEEFF;">
              <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif;">Vessel operating expenses</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">3,096</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">2,647</div>
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
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          <tr>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-left: 1%; width: 76%; background-color: #FFFFFF;">
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            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">1,295</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">(181</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">)</div>
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          <tr>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-left: 1%; width: 76%; background-color: #CCEEFF;">
              <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif;">Net income / (loss) attributable to common stockholders</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">2,795</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">(181</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">)</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-left: 1%; width: 76%; background-color: #FFFFFF;">
              <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif;">Earnings / (Loss) per common share, basic</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">0.06</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">(0.01</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">)</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-left: 1%; width: 76%; background-color: #CCEEFF;">
              <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif;">Earnings / (Loss) per common share, diluted</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">0.06</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">(0.01</div>
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">)</div>
            </td>
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          <tr>
            <td valign="bottom" colspan="8" style="vertical-align: bottom; background-color: #FFFFFF;">
              <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-weight: bold;">FLEET DATA</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; background-color: #FFFFFF;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-left: 1%; width: 76%; background-color: #CCEEFF;">
              <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif;">Average number of vessels</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">4.7</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">4.0</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-left: 1%; width: 76%; background-color: #FFFFFF;">
              <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif;">Number of vessels</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">6.0</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">4.0</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-left: 1%; width: 76%; background-color: #CCEEFF;">
              <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif;">Ownership days</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">430</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">360</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-left: 1%; width: 76%; background-color: #FFFFFF;">
              <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif;">Available days</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">430</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">360</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-left: 1%; width: 76%; background-color: #CCEEFF;">
              <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif;">Operating days, excluding ballast leg (1)</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">314</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">356</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-left: 1%; width: 76%; background-color: #FFFFFF;">
              <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif;">Operating days, including ballast leg (2)</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">373</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">356</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-left: 1%; width: 76%; background-color: #CCEEFF;">
              <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif;">Fleet utilization, excluding ballast leg</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">73.0</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">%</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">98.9</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">%</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-left: 1%; width: 76%; background-color: #FFFFFF;">
              <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif;">Fleet utilization, including ballast leg</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">86.7</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">%</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">98.9</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">%</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" colspan="8" style="vertical-align: bottom; background-color: #CCEEFF;">
              <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-weight: bold;">AVERAGE DAILY RESULTS</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; background-color: #CCEEFF;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-left: 1%; width: 76%; background-color: #FFFFFF;">
              <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif;">Time charter equivalent (TCE) rate (3)</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">21,386</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">14,419</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-left: 1%; width: 76%; background-color: #CCEEFF;">
              <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif;">Daily vessel operating expenses (4)</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">7,200</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">7,353</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          </tr>

      </table>
      <div><br>
      </div>
      <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif;">_______________________</div>
      <div><br>
      </div>
      <div style="text-align: justify;">
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z6ea26fc001dc4d579859704ec1cde598">

              <tr>
                <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', serif;">(1)</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div style="font-family: 'Times New Roman', serif;">Operating days, excluding ballast leg, are the number of available days in a period less the aggregate number of days that our vessels are off-hire. The specific calculation counts the
                    ballast leg of spot voyages as off-hire days, even if a charter party exists, so as to be in line with the accounting guidelines of ASC 606 for the revenue recognition (&#8220;loading&#8221; to &#8220;discharging&#8221; accounting). The shipping industry uses
                    operating days to measure the aggregate number of days in a period during which vessels actually generate revenues.</div>
                </td>
              </tr>

          </table>
        </div>
      </div>
      <div><br>
      </div>
      <div style="text-align: justify;">
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z4a69d62685ef45c6bc75f2ba0fcfc998">

              <tr>
                <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', serif;">(2)</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div style="font-family: 'Times New Roman', serif;">Operating days, including ballast leg, are the number of available days in a period less the aggregate number of days that our vessels are off-hire. The specific calculation does not
                    count as off-hire the days of the ballast leg of the spot voyages, as long as a charter party is in place. The shipping industry uses operating days to measure the aggregate number of days in a period during which vessels actually
                    generate revenues.</div>
                </td>
              </tr>

          </table>
        </div>
      </div>
      <div><br>
      </div>
      <div style="text-align: justify;">
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z32d1e03ad0ea4b12bd6bcbda0aa92df0">

              <tr>
                <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', serif;">(3)</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div style="font-family: 'Times New Roman', serif;">Time charter equivalent rates, or TCE rates, are defined as our voyage and time charter revenues, less voyage expenses during a period divided by the number of our available days during
                    the period, which is consistent with industry standards.&#160; Voyage expenses include port charges, bunker (fuel) expenses, canal charges and commissions.&#160; TCE is a non-GAAP measure. TCE rate is a standard shipping industry performance
                    measure used primarily to compare daily earnings generated by vessels despite changes in the mix of charter types (i.e., voyage (spot) charters, time charters and bareboat charters).</div>
                </td>
              </tr>

          </table>
        </div>
      </div>
      <div><br>
      </div>
      <div style="text-align: justify;">
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zce9e3b58321d4738943c6484507f4c17">

              <tr>
                <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', serif;">(4)</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div style="font-family: 'Times New Roman', serif;">Daily vessel operating expenses, which include crew wages and related costs, the cost of insurance and vessel registry, expenses relating to repairs and maintenance, the costs of spares
                    and consumable stores, lubricant costs, tonnage taxes, regulatory fees, environmental costs, lay-up expenses and other miscellaneous expenses, are calculated by dividing vessel operating expenses by ownership days for the relevant
                    period.</div>
                </td>
              </tr>

          </table>
        </div>
      </div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
        <div style="page-break-after:always;" id="DSPFPageBreak">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <div style="margin-bottom: 10pt;"><br>
      </div>
      <div style="margin-bottom: 10pt;"><br>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z510c8f76bfab43f6850a897c8d00c53f">

          <tr>
            <td colspan="9" style="width: 100%; vertical-align: top;">
              <div style="text-align: justify; color: rgb(0, 0, 0); font-family: 'Times New Roman',serif; font-weight: bold;">Fleet Employment Profile (As of May 18, 2020)</div>
            </td>
          </tr>
          <tr>
            <td colspan="9" style="width: 100%; vertical-align: top;">
              <div style="text-align: justify; color: rgb(0, 0, 0); font-family: 'Times New Roman',serif;">Performance Shipping Inc.&#8217;s fleet is employed as follows:</div>
            </td>
          </tr>
          <tr>
            <td style="width: 10.71%; vertical-align: bottom; border-bottom: #000000 2px solid;">&#160;</td>
            <td style="width: 6.4%; vertical-align: bottom; border-bottom: #000000 2px solid;">&#160;</td>
            <td style="width: 10.71%; vertical-align: bottom; border-bottom: #000000 2px solid;">&#160;</td>
            <td style="width: 15.72%; vertical-align: bottom; border-bottom: #000000 2px solid;">&#160;</td>
            <td style="width: 11.13%; vertical-align: bottom; border-bottom: #000000 2px solid;">&#160;</td>
            <td style="width: 8.76%; vertical-align: bottom; border-bottom: #000000 2px solid;">&#160;</td>
            <td style="width: 10.43%; vertical-align: bottom; border-bottom: #000000 2px solid;">&#160;</td>
            <td style="width: 13.63%; vertical-align: bottom; border-bottom: #000000 2px solid;">&#160;</td>
            <td style="width: 12.52%; vertical-align: bottom; border-bottom: #000000 2px solid;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 10.71%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',serif; font-weight: bold;">Vessel</div>
            </td>
            <td style="width: 6.4%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',serif; font-weight: bold;">Year of Built</div>
            </td>
            <td style="width: 10.71%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',serif; font-weight: bold;">Capacity</div>
            </td>
            <td style="width: 15.72%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',serif; font-weight: bold;">Builder</div>
            </td>
            <td style="width: 11.13%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',serif; font-weight: bold;">Gross Rate (USD Per Day)</div>
            </td>
            <td style="width: 8.76%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',serif; font-weight: bold;">Com*</div>
            </td>
            <td style="width: 10.43%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',serif; font-weight: bold;">Charterers</div>
            </td>
            <td style="width: 13.63%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',serif; font-weight: bold;">Delivery Date to</div>
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',serif; font-weight: bold;">Charterers</div>
            </td>
            <td style="width: 12.52%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',serif; font-weight: bold;">Redelivery Date to Owners**</div>
            </td>
          </tr>
          <tr>
            <td colspan="9" style="width: 100%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',serif; font-weight: bold;">4 Aframax Tanker Vessels</div>
            </td>
          </tr>
          <tr>
            <td style="width: 10.71%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: justify; color: rgb(0, 0, 0); font-family: 'Times New Roman',serif;">BLUE MOON</div>
            </td>
            <td style="width: 6.4%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',serif;">2011</div>
            </td>
            <td style="width: 10.71%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',serif;">104,623 DWT</div>
            </td>
            <td style="width: 15.72%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',serif;">Sumitomo Heavy Industries Marine &amp; Engineering Co., LTD.</div>
            </td>
            <td style="width: 11.13%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',serif;">Spot</div>
            </td>
            <td style="width: 8.76%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',serif;">-</div>
            </td>
            <td style="width: 10.43%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',serif;">-</div>
            </td>
            <td style="width: 13.63%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',serif;">-</div>
            </td>
            <td style="width: 12.52%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',serif;">- - -</div>
            </td>
          </tr>
          <tr>
            <td style="width: 10.71%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: justify; color: rgb(0, 0, 0); font-family: 'Times New Roman',serif;">BRIOLETTE</div>
            </td>
            <td style="width: 6.4%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',serif;">2011</div>
            </td>
            <td style="width: 10.71%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',serif;">104,588 DWT</div>
            </td>
            <td style="width: 15.72%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',serif;">Sumitomo Heavy Industries Marine &amp; Engineering Co., LTD.</div>
            </td>
            <td style="width: 11.13%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',serif;">Spot</div>
            </td>
            <td style="width: 8.76%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',serif; font-weight: bold;">-</div>
            </td>
            <td style="width: 10.43%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',serif; font-weight: bold;">-</div>
            </td>
            <td style="width: 13.63%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',serif; font-weight: bold;">-</div>
            </td>
            <td style="width: 12.52%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',serif;">- - -</div>
            </td>
          </tr>
          <tr>
            <td style="width: 10.71%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: justify; color: rgb(0, 0, 0); font-family: 'Times New Roman',serif;">P. FOS</div>
            </td>
            <td style="width: 6.4%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',serif;">2007</div>
            </td>
            <td style="width: 10.71%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',serif;">104,577 DWT</div>
            </td>
            <td style="width: 15.72%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',serif;">Sasebo Heavy Industries Co. Ltd</div>
            </td>
            <td style="width: 11.13%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',serif;">Spot</div>
            </td>
            <td style="width: 8.76%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',serif; font-weight: bold;">-</div>
            </td>
            <td style="width: 10.43%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',serif; font-weight: bold;">-</div>
            </td>
            <td style="width: 13.63%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',serif; font-weight: bold;">-</div>
            </td>
            <td style="width: 12.52%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',serif;">- - -</div>
            </td>
          </tr>
          <tr>
            <td style="width: 10.71%; vertical-align: bottom;">
              <div style="text-align: justify; color: rgb(0, 0, 0); font-family: 'Times New Roman',serif;">P. KIKUMA</div>
            </td>
            <td style="width: 6.4%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',serif;">2007</div>
            </td>
            <td style="width: 10.71%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',serif; text-indent: -9pt; margin-left: 9pt;">104,915 DWT</div>
            </td>
            <td style="width: 15.72%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',serif;">Samsung Heavy Industries Co Ltd.,</div>
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',serif;">Geoje, South Korea</div>
            </td>
            <td style="width: 11.13%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',serif;">Spot</div>
            </td>
            <td style="width: 8.76%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',serif; font-weight: bold;">-</div>
            </td>
            <td style="width: 10.43%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',serif; font-weight: bold;">-</div>
            </td>
            <td style="width: 13.63%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',serif; font-weight: bold;">-</div>
            </td>
            <td style="width: 12.52%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',serif;">- - -</div>
            </td>
          </tr>
          <tr>
            <td colspan="9" style="width: 100%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',serif; font-weight: bold;">1 Panamax Container Vessel</div>
            </td>
          </tr>
          <tr>
            <td style="width: 10.71%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0);">
              <div style="text-align: justify; color: rgb(0, 0, 0); font-family: 'Times New Roman',serif;">DOMINGO</div>
            </td>
            <td style="width: 6.4%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',serif;">2001</div>
            </td>
            <td style="width: 10.71%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',serif;">3,739 TEU</div>
            </td>
            <td rowspan="2" style="width: 15.72%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',serif;">Samsung Heavy Industries Co Ltd., Koje, South Korea</div>
            </td>
            <td style="width: 11.13%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',serif;">$11,850</div>
            </td>
            <td style="width: 8.76%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',serif;">3.50%</div>
            </td>
            <td rowspan="2" style="width: 10.43%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',serif;">CMA CGM</div>
            </td>
            <td style="width: 13.63%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',serif;">15-Jan-20</div>
            </td>
            <td style="width: 12.52%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',serif;">6-Apr-20</div>
            </td>
          </tr>
          <tr>
            <td style="width: 10.71%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 6.4%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 10.71%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 11.13%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',serif;">$10,500</div>
            </td>
            <td style="width: 8.76%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',serif;">3.50%</div>
            </td>
            <td style="width: 13.63%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',serif;">6-Apr-20</div>
            </td>
            <td style="width: 12.52%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',serif;">29-Jun-20</div>
            </td>
          </tr>
          <tr>
            <td style="width: 10.71%; vertical-align: bottom;">&#160;</td>
            <td style="width: 6.4%; vertical-align: bottom;">&#160;</td>
            <td style="width: 10.71%; vertical-align: bottom;">&#160;</td>
            <td style="width: 15.72%; vertical-align: bottom;">&#160;</td>
            <td style="width: 11.13%; vertical-align: bottom;">&#160;</td>
            <td style="width: 8.76%; vertical-align: bottom;">&#160;</td>
            <td style="width: 10.43%; vertical-align: bottom;">&#160;</td>
            <td style="width: 13.63%; vertical-align: bottom;">&#160;</td>
            <td style="width: 12.52%; vertical-align: bottom;">&#160;</td>
          </tr>

      </table>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="ze082db469a834055a2ce963d7ad6d0da">

          <tr>
            <td style="width: 100%; vertical-align: bottom;">
              <div style="text-align: justify; color: rgb(0, 0, 0); font-family: 'Times New Roman',serif;">* Total commission paid to third parties.</div>
            </td>
          </tr>
          <tr>
            <td style="width: 100%; vertical-align: bottom;">
              <div style="text-align: justify; color: rgb(0, 0, 0); font-family: 'Times New Roman',serif;">** Range of redelivery dates, with the actual date of redelivery being at the Charterers&#8217; option, but subject to the terms, conditions, and
                exceptions of the particular charterparty.</div>
            </td>
          </tr>

      </table>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
        <div style="page-break-after:always;" id="DSPFPageBreak">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <div style="text-align: justify; margin-bottom: 10pt; font-family: 'Times New Roman', serif; font-weight: bold;">About the Company</div>
      <div style="text-align: justify; font-family: 'Times New Roman', serif;">Performance Shipping Inc. is a global provider of shipping transportation services through its ownership of vessels. The Company&#8217;s vessels are employed primarily on spot
        charters with leading charterers.&#160;</div>
      <div><br>
      </div>
      <div style="text-align: justify; margin-bottom: 10pt; font-family: 'Times New Roman', serif; font-weight: bold;">Cautionary Statement Regarding Forward-Looking Statements</div>
      <div style="text-align: justify; font-family: 'Times New Roman', serif;">Matters discussed in this press release may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for
        forward-looking statements in order to encourage companies to provide prospective information about their business. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and
        underlying assumptions and other statements, which are other than statements of historical facts.</div>
      <div><br>
      </div>
      <div style="text-align: justify; font-family: 'Times New Roman', serif;">The Company desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in
        connection with this safe harbor legislation. The words "believe," "anticipate," "intends," "estimate," "forecast," "project," "plan," "potential," "may," "should," "expect," "pending" and similar expressions identify forward-looking statements.</div>
      <div><br>
      </div>
      <div style="text-align: justify; font-family: 'Times New Roman', serif;">The forward-looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without
        limitation, our management's examination of historical operating trends, data contained in our records and other data available from third parties. Although we believe that these assumptions were reasonable when made, because these assumptions are
        inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond our control, we cannot assure you that we will achieve or accomplish these expectations, beliefs or projections.</div>
      <div><br>
      </div>
      <div style="text-align: justify; font-family: 'Times New Roman', serif;">In addition to these important factors, other important factors that, in our view, could cause actual results to differ materially from those discussed in the forward-looking
        statements include the strength of world economies and currencies, general market conditions, including fluctuations in charter rates and vessel values, changes in demand for our vessels, changes in our operating expenses, including bunker prices,
        drydocking and insurance costs, the market for our vessels, availability of financing and refinancing, the length and severity of the recent novel coronavirus (COVID-19) and its impact on the demand for seaborne transportation of petroleum and
        other types of products, changes in governmental rules and regulations or actions taken by regulatory authorities, potential liability from pending or future litigation, general domestic and international political conditions, potential disruption
        of shipping routes due to accidents or political events, vessel breakdowns and instances of off-hires and other factors. Please see our filings with the Securities and Exchange Commission for a more complete discussion of these and other risks and
        uncertainties.</div>
      <div><br>
      </div>
      <div style="text-align: center; font-family: 'Times New Roman', serif;">(See financial tables attached)</div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
        <div style="page-break-after:always;" id="DSPFPageBreak">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <table cellspacing="0" cellpadding="0" id="zb5b7699f9b2a4c6ca3c5904269fdc890" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000; width: 100%;">

          <tr>
            <td valign="bottom" colspan="8" style="vertical-align: bottom;">
              <div style="text-align: center; color: #000000; font-family: 'Times New Roman', serif; font-weight: bold;">PERFORMANCE SHIPPING INC.</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" colspan="8" style="vertical-align: bottom;">
              <div style="text-align: center; color: #000000; font-family: 'Times New Roman', serif; font-weight: bold;">FINANCIAL TABLES</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" colspan="8" style="vertical-align: bottom;">
              <div style="text-align: center; color: #000000; font-family: 'Times New Roman', serif;">Expressed in thousands of U.S. Dollars, except for share and per share data</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" colspan="8" style="vertical-align: bottom;">
              <div style="text-align: center; color: #000000; font-family: 'Times New Roman', serif; font-weight: bold;">UNAUDITED INTERIM CONSOLIDATED STATEMENTS OF OPERATIONS</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="6" style="vertical-align: bottom;">
              <div style="text-align: center; color: #000000; font-family: 'Times New Roman', serif; font-weight: bold;">For the three months ended March 31,</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
              <div style="text-align: center; color: #000000; font-family: 'Times New Roman', serif; font-weight: bold;"> 2020</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
              <div style="text-align: center; color: #000000; font-family: 'Times New Roman', serif; font-weight: bold;"> 2019</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" colspan="1" style="vertical-align: bottom;">
              <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-weight: bold;">REVENUES:</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-left: 1%; width: 76%; background-color: #CCEEFF;">
              <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif;">Voyage and time charter revenues</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">13,504</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">5,469</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;">
              <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-weight: bold;">EXPENSES:</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-left: 1%; width: 76%; background-color: #FFFFFF;">
              <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif;">Voyage expenses</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
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            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
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            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
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            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
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            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
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            <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-left: 1%; width: 76%; background-color: #CCEEFF;">
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            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
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            <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-left: 1%; width: 76%; background-color: #FFFFFF;">
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            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">1,908</div>
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
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            <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-left: 1%; width: 76%; background-color: #CCEEFF;">
              <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif;">Impairment losses</div>
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            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">339</div>
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">-</div>
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
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            <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-left: 1%; width: 76%; background-color: #FFFFFF;">
              <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif;">Provision for doubtful receivables</div>
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            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">86</div>
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">-</div>
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
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            <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-left: 1%; width: 76%; padding-bottom: 2px; background-color: #CCEEFF;">
              <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif;">Foreign currency losses</div>
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            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">21</div>
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">5</div>
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
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            <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-left: 1%; width: 76%; padding-bottom: 2px; background-color: #FFFFFF;">
              <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-weight: bold;">Operating income / (loss)</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">$</div>
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            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">1,749</div>
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">$</div>
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            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">(235</div>
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">)</div>
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          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
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            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 76%; background-color: #FFFFFF;">
              <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-weight: bold;">OTHER INCOME / (EXPENSES):</div>
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            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
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          <tr>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-left: 1%; width: 76%; background-color: #CCEEFF;">
              <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif;">Interest and finance costs</div>
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            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">(527</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">)</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">-</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-left: 1%; width: 76%; background-color: #FFFFFF;">
              <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif;">Interest income</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">73</div>
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">54</div>
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-left: 1%; width: 76%; padding-bottom: 2px; background-color: #CCEEFF;">
              <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-weight: bold;">Total other income /(expenses), net</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">$</div>
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            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">(454</div>
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">)</div>
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            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">54</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 76%; padding-bottom: 4px; background-color: #CCEEFF;">
              <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-weight: bold;">Net income / (loss)</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">$</div>
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            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">1,295</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">(181</div>
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">)</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">&#160;</td>
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            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
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          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
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            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 76%; padding-bottom: 4px; background-color: #CCEEFF;">
              <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-weight: bold;">Net income / (loss) attributable to common stockholders</div>
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            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">$</div>
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            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">2,795</div>
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">$</div>
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            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">(181</div>
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">)</div>
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          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
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          <tr>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 76%; padding-bottom: 4px; background-color: #CCEEFF;">
              <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-weight: bold;">Earnings / (Loss) per common share, basic</div>
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            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">$</div>
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            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">0.06</div>
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">$</div>
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            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">(0.01</div>
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">)</div>
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            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 76%; padding-bottom: 4px; background-color: #FFFFFF;">
              <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-weight: bold;">Earnings / (Loss) per common share, diluted</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">$</div>
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            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">0.06</div>
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">(0.01</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">)</div>
            </td>
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          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
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          <tr>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 76%; padding-bottom: 4px; background-color: #FFFFFF;">
              <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-weight: bold;">Weighted average number of common shares, basic</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">46,967,727</div>
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">18,423,674</div>
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">&#160;</td>
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          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
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          <tr>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 76%; padding-bottom: 4px; background-color: #FFFFFF;">
              <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-weight: bold;">Weighted average number of common shares, diluted</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">47,883,387</div>
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">18,423,674</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
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          <tr>
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              <div style="text-align: center; color: #000000; font-family: 'Times New Roman', serif; font-weight: bold;">UNAUDITED INTERIM CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME / (LOSS)</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
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          <tr>
            <td valign="bottom" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
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              <div style="text-align: center; color: #000000; font-family: 'Times New Roman', serif; font-weight: bold;">For the three months ended March 31,</div>
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
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          <tr>
            <td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
              <div style="text-align: center; color: #000000; font-family: 'Times New Roman', serif; font-weight: bold;"> 2020</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
              <div style="text-align: center; color: #000000; font-family: 'Times New Roman', serif; font-weight: bold;"> 2019</div>
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">&#160;</td>
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          <tr>
            <td valign="bottom" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;">
              <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-weight: bold;">Net income / (loss)</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">1,295</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">(181</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">)</div>
            </td>
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          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
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            <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #FFFFFF;">&#160;</td>
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            <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
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            <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
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            <td valign="bottom" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
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            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
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            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
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            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 76%; background-color: rgb(255, 255, 255);">
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            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
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              <div style="color: #000000; font-family: 'Times New Roman', serif;">18,130</div>
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
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            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255);">
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            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">-</div>
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">11,017</div>
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
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              <div style="text-align: justify; color: rgb(0, 0, 0); font-family: 'Times New Roman',serif;">&#160;Vessels, net</div>
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            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">115,601</div>
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">82,871</div>
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
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            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255);">
              <div style="text-align: justify; color: rgb(0, 0, 0); font-family: 'Times New Roman',serif;">&#160;Other fixed assets, net</div>
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            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">1,009</div>
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">993</div>
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
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          <tr>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 76%; padding-bottom: 2px; background-color: rgb(255, 255, 255);">
              <div style="text-align: justify; color: rgb(0, 0, 0); font-family: 'Times New Roman',serif;">&#160;Other assets</div>
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            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">5,814</div>
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
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              <div style="color: #000000; font-family: 'Times New Roman', serif;">9,325</div>
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
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          <tr>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 76%; padding-bottom: 4px; background-color: rgb(204, 238, 255);">
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            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">$</div>
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            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">154,746</div>
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;">&#160;</td>
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              <div style="color: #000000; font-family: 'Times New Roman', serif;">$</div>
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            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">130,569</div>
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;">&#160;</td>
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          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
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          <tr>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255);">
              <div style="text-align: justify; color: rgb(0, 0, 0); font-family: 'Times New Roman',serif; font-weight: bold;"><u>LIABILITIES AND STOCKHOLDERS' EQUITY</u></div>
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            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
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          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
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          <tr>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255);">
              <div style="text-align: justify; color: rgb(0, 0, 0); font-family: 'Times New Roman',serif;">&#160;Long-term debt, net of unamortized deferred financing costs</div>
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            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">$</div>
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            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">56,230</div>
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
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            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
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            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 76%; background-color: rgb(255, 255, 255);">
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            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
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            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
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            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">94,701</div>
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            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">94,238</div>
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            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 76%; padding-bottom: 4px; background-color: rgb(255, 255, 255);">
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            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">154,746</div>
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            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">130,569</div>
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            <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
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            <td valign="bottom" colspan="8" style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: justify; color: rgb(0, 0, 0); font-family: 'Times New Roman',serif;">* The balance sheet data as of December 31, 2019 has been derived from the audited consolidated financial statements at that date.</div>
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            <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
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            <td valign="bottom" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
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            <td valign="bottom" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
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            <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
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              <div style="text-align: center; color: #000000; font-family: 'Times New Roman', serif; font-weight: bold;"> 2020</div>
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
              <div style="text-align: center; color: #000000; font-family: 'Times New Roman', serif; font-weight: bold;"> 2019</div>
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            <td valign="bottom" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
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            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
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              <div style="color: #000000; font-family: 'Times New Roman', serif;">$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">7,094</div>
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">8</div>
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
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            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 76%; background-color: #FFFFFF;">
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            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">(41,272</div>
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">)</div>
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            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">443</div>
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
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            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;">
              <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif;">&#160;Net Cash provided by Financing Activities</div>
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            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">22,007</div>
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif;">6,452</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
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