<SEC-DOCUMENT>0001140361-22-043485.txt : 20221129
<SEC-HEADER>0001140361-22-043485.hdr.sgml : 20221129
<ACCEPTANCE-DATETIME>20221129164128
ACCESSION NUMBER:		0001140361-22-043485
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20221129
FILED AS OF DATE:		20221129
DATE AS OF CHANGE:		20221129

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:		221433290

	BUSINESS ADDRESS:	
		STREET 1:		373 SYNGROU AVE.
		STREET 2:		17564 PALAIO FALIRO
		CITY:			ATHENS
		STATE:			J3
		ZIP:			00000
		BUSINESS PHONE:		302166002400

	MAIL ADDRESS:	
		STREET 1:		373 SYNGROU AVE.
		STREET 2:		17564 PALAIO FALIRO
		CITY:			ATHENS
		STATE:			J3
		ZIP:			00000

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Diana Containerships Inc.
		DATE OF NAME CHANGE:	20100115
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>brhc10044835_6k.htm
<DESCRIPTION>6-K
<TEXT>
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      <div style="text-align: center; margin-right: 29.1pt; margin-left: 27.5pt; font-size: 18pt; font-weight: bold;">FORM 6-K</div>
      <div><br>
      </div>
      <div style="text-align: center; margin-right: 29.1pt; margin-left: 27.5pt; font-size: 14pt;">SECURITIES AND EXCHANGE COMMISSION</div>
      <div style="text-align: center; margin-right: 29.1pt; margin-left: 27.5pt; font-size: 12pt;">Washington, D.C. 20549</div>
      <div><br>
      </div>
      <div style="text-align: center; margin-right: 29.1pt; margin-left: 27.5pt; font-weight: bold;">Report of Foreign Private Issuer</div>
      <div style="text-align: center; margin-right: 29.1pt; margin-left: 27.5pt; font-weight: bold;">Pursuant to Rule 13a-16 or 15d-16 of</div>
      <div style="text-align: center; margin-right: 29.1pt; margin-left: 27.5pt; font-weight: bold;">the Securities Exchange Act of 1934</div>
      <div><br>
      </div>
      <div style="text-align: center; margin-right: 29.1pt; margin-left: 27.5pt; font-weight: bold;">For the month of November 2022</div>
      <div><br>
      </div>
      <div style="text-align: center; margin-right: 29.1pt; margin-left: 27.5pt;">Commission File Number: 001-35025</div>
      <div style="margin-right: 29.1pt; margin-left: 27.5pt;"> <br>
        </div>
      <div style="text-align: center; margin-right: 29.1pt; margin-left: 27.5pt; font-size: 24pt; font-weight: bold;">PERFORMANCE SHIPPING INC.</div>
      <div style="text-align: center; margin-right: 29.1pt; margin-left: 27.5pt;">(Translation of registrant's name into English)</div>
      <div><br>
      </div>
      <div style="text-align: center; margin-right: 29.1pt; margin-left: 27.5pt; color: rgb(0, 0, 0);">373 Syngrou Avenue</div>
      <div style="text-align: center; margin-right: 29.1pt; margin-left: 27.5pt; color: rgb(0, 0, 0);">175 64 Palaio Faliro</div>
      <div style="text-align: center; margin-right: 29.1pt; margin-left: 27.5pt;">Athens, Greece</div>
      <div style="text-align: center; margin-right: 29.1pt; margin-left: 27.5pt;">(Address of principal executive office)</div>
      <div style="margin-right: 29.1pt; margin-left: 27.5pt;"> <br>
        </div>
      <div>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: center; font-weight: bold;">Form 20-F [X] Form 40-F [ ]</div>
      <div><br>
      </div>
      <div>Indicate by check mark if the registrant is submitting the Form 6-K in paper as</div>
      <div>permitted by Regulation S-T Rule 101(b)(1): ___</div>
      <div><br>
      </div>
      <div>Note: 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>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: ___</div>
      <div><br>
      </div>
      <div>Note: 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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        <hr align="center" style="border: none; border-bottom: 4px solid black; border-top: 1px solid black; height: 10px; color: #ffffff; background-color: #ffffff; text-align: center; margin-left: auto; margin-right: auto;"></div>
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      <div style="text-align: center; margin-right: 29.1pt; margin-left: 27.5pt; color: rgb(0, 0, 0); font-weight: bold;">INFORMATION CONTAINED IN THIS FORM 6-K REPORT</div>
      <div><br>
      </div>
      <div style="text-align: justify; color: rgb(0, 0, 0);">Attached to this Report on Form 6-K as <a href="brhc10044835_ex99-1.htm">Exhibit 99.1</a> is a copy of the press release of the Company dated November 29, 2022 titled &#8220;Performance Shipping Inc.
        Announces Commitment Letter from Alpha Bank A.E.&#8221;.</div>
      <div><br>
      </div>
      <div style="text-align: justify; color: rgb(0, 0, 0);">The information contained in this Report on Form 6-K 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 &#8220;SEC&#8221;) with an effective date of August 13, 2014, and the Company&#8217;s registration statement on Form F-3 (File No. 333-237637), filed with the SEC with an
        effective date of April 23, 2020.</div>
      <div><br>
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      <div style="text-align: center; margin-right: 12.6pt; margin-left: 27.5pt; color: rgb(0, 0, 0); font-weight: bold;">SIGNATURES</div>
      <div><br>
      </div>
      <div style="text-align: justify; color: rgb(0, 0, 0);">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>
      <table cellspacing="0" cellpadding="0" id="z7888093e62ac42f7a1fc7d9b13902e3b" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

          <tr>
            <td style="width: 49.55%; vertical-align: top;"><br>
            </td>
            <td style="width: 50.45%; vertical-align: top;">
              <div style="font-weight: bold;">PERFORMANCE SHIPPING INC.</div>
              <div>(Registrant)</div>
            </td>
          </tr>
          <tr>
            <td style="width: 49.55%; vertical-align: top;" rowspan="1"><br>
            </td>
            <td style="width: 50.45%; vertical-align: top;" rowspan="1"><br>
            </td>
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            <td style="width: 49.55%; vertical-align: top;">
              <div>Dated: November 29, 2022</div>
            </td>
            <td style="width: 50.45%; vertical-align: top;"><br>
            </td>
          </tr>
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            <td style="width: 49.55%; vertical-align: top;" rowspan="1"><br>
            </td>
            <td style="width: 50.45%; vertical-align: top;" rowspan="1"><br>
            </td>
          </tr>
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            </td>
            <td style="width: 50.45%; vertical-align: top;">
              <div><u>/s/ Andreas Michalopoulos</u></div>
            </td>
          </tr>
          <tr>
            <td style="width: 49.55%; vertical-align: top;" rowspan="1"><br>
            </td>
            <td style="width: 50.45%; vertical-align: top;" rowspan="1">By: Andreas Michalopoulos</td>
          </tr>
          <tr>
            <td style="width: 49.55%; vertical-align: top;" rowspan="1"><br>
            </td>
            <td style="width: 50.45%; vertical-align: top;" rowspan="1">Chief Executive Officer</td>
          </tr>

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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>brhc10044835_ex99-1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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      <div style="text-align: right;"> <font style="color: rgb(0, 0, 0); font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 700; letter-spacing: normal; text-indent: 0px; text-transform: none; white-space: normal; word-spacing: 0px; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; display: inline ! important; float: none;">Exhibit 99.1</font></div>
      <div><font style="color: rgb(0, 0, 0); font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 700; letter-spacing: normal; text-indent: 0px; text-transform: none; white-space: normal; word-spacing: 0px; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; display: inline ! important; float: none;"> <br>
        </font></div>
      <table cellspacing="0" cellpadding="0" border="0" id="zfb8674270f1a4be3b5346a924683bec3" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

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              <div style="font-style: italic; font-weight: bold;">Corporate Contact:</div>
            </td>
          </tr>
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            <td style="width: 50%; vertical-align: top;"><br>
            </td>
            <td style="width: 50%; vertical-align: top;">
              <div>Andreas Michalopoulos</div>
            </td>
          </tr>
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            <td style="width: 50%; vertical-align: top;"><br>
            </td>
            <td style="width: 50%; vertical-align: top;">
              <div>Chief Executive Officer, Director and Secretary</div>
            </td>
          </tr>
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            <td style="width: 50%; vertical-align: top;"><br>
            </td>
            <td style="width: 50%; vertical-align: top;">
              <div>Telephone: +30-216-600-2400</div>
            </td>
          </tr>
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            <td style="width: 50%; vertical-align: top;"><br>
            </td>
            <td style="width: 50%; vertical-align: top;">
              <div>Email: <u>amichalopoulos@pshipping.com</u></div>
            </td>
          </tr>
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            </td>
            <td style="width: 50%; vertical-align: top;">
              <div>Website: <u>www.pshipping.com</u></div>
            </td>
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              <div>For Immediate Release</div>
            </td>
            <td style="width: 50%; vertical-align: top;"><br>
            </td>
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              <div style="font-style: italic; font-weight: bold;">Investor and Media Relations:</div>
            </td>
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            </td>
            <td style="width: 50%; vertical-align: top;">
              <div>Edward Nebb</div>
            </td>
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            </td>
            <td style="width: 50%; vertical-align: top;">
              <div>Comm-Counsellors, LLC</div>
            </td>
          </tr>
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            </td>
            <td style="width: 50%; vertical-align: top;">
              <div>Telephone: + 1-203-972-8350</div>
            </td>
          </tr>
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            <td style="width: 50%; vertical-align: top;"><br>
            </td>
            <td style="width: 50%; vertical-align: top;">
              <div>Email: <u>enebb@optonline.net</u></div>
            </td>
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      <div><br>
      </div>
      <div style="text-align: center; font-weight: bold;">PERFORMANCE SHIPPING INC. ANNOUNCES COMMITMENT LETTER</div>
      <div style="text-align: center; font-weight: bold;">FROM ALPHA BANK A.E.</div>
      <div><br>
      </div>
      <div style="text-align: justify;">ATHENS, GREECE, November 29, 2022 &#8211; Performance Shipping Inc. (NASDAQ: PSHG), (&#8220;we&#8221; or the &#8220;Company&#8221;), a global shipping company specializing in the ownership of
        tanker vessels, today announced that it has accepted a commitment letter whereby it intends to enter into an agreement for a new term loan facility of up to US$22,000,000.00 with Alpha Bank A.E. (the &#8220;Facility&#8221;) through a separate wholly-owned
        subsidiary of the Company. This Facility is subject to the completion of customary closing conditions and the execution of a final loan agreement by the Company and its lenders. Proceeds from this Facility will be used to finance up to about 50% of
        the purchase price of the previously announced 2013 built LR2 tanker vessel the Company has agreed to acquire, the M/T Fos Hamilton, to be renamed P. Long Beach. This Facility shall bear interest at the rate of SOFR plus 2.35% per annum.</div>
      <div>&#160;</div>
      <div style="text-align: justify;">The Facility will be repayable in twenty (20) consecutive quarterly installments of US$550,000.00 each, and concurrent with the twentieth quarterly installment, the
        Company will owe a balloon payment of US$11,000,000.00.</div>
      <div>&#160;</div>
      <div style="text-align: justify;">Commenting on this commitment letter, Andreas Michalopoulos, the Company&#8217;s Chief Executive Officer, stated:</div>
      <div>&#160;</div>
      <div style="text-align: justify;">&#8220;We are pleased to announce that we are expanding our relationship with Alpha Bank, established with the first loan facility of US$18.25 million secured by the M/T P.
        Aliki. This commitment letter is indicative of the continued confidence in our Company demonstrated by our new lender with another long-term loan facility at attractive terms. We expect to drawdown this Facility upon delivery of our eighth vessel,
        the LR2 Aframax tanker, M/T P. Long Beach in December 2022. With a recently expanded and renewed fleet, we look forward to further enhancing our fixed revenues of approximately US$85 million with lucrative spot charter rates secured mainly through
        our pool agreements thereby capturing the strong prevailing market conditions and generating significant cash flow.&#8221;</div>
      <div>&#160;</div>
      <div style="text-align: justify; font-weight: bold;">About the Company</div>
      <div>&#160;</div>
      <div style="text-align: justify;">Performance Shipping Inc. is a global provider of shipping transportation services through its ownership of tanker vessels. The Company&#8217;s current fleet is employed on
        spot voyages, through pool arrangements and on time charters.</div>
      <div style="text-align: justify;"> <br>
      </div>
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      <div style="text-align: justify; font-weight: bold;">Cautionary Statement Regarding Forward-Looking Statements</div>
      <div><br>
      </div>
      <div style="text-align: justify;">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, but are not limited to, statements concerning plans, objectives, goals,
        strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts, including with respect to the delivery of the vessel we have agreed to acquire.</div>
      <div><br>
      </div>
      <div style="text-align: justify;">The words &#8220;believe,&#8221; &#8220;anticipate,&#8221; &#8220;intends,&#8221; &#8220;estimate,&#8221; &#8220;forecast,&#8221; &#8220;project,&#8221; &#8220;plan,&#8221; &#8220;potential,&#8221; &#8220;will,&#8221; &#8220;may,&#8221; &#8220;should,&#8221; &#8220;expect,&#8221; &#8220;targets,&#8221; &#8220;likely,&#8221; &#8220;would,&#8221;
        &#8220;could,&#8221; &#8220;seeks,&#8221; &#8220;continue,&#8221; &#8220;possible,&#8221; &#8220;might,&#8221; &#8220;pending&#8221; and similar expressions, terms or phrases may identify forward-looking statements.</div>
      <div><br>
      </div>
      <div style="text-align: justify;">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&#8217;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;">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, but are not limited to: the strength of world economies, fluctuations in currencies and interest rates, general market conditions, including fluctuations in charter rates and vessel values, changes in demand in
        the tanker shipping industry, changes in the supply of vessels, changes in worldwide oil production and consumption and storage, changes in our operating expenses, including bunker prices, crew costs, drydocking and insurance costs, our future
        operating or financial results, availability of financing and refinancing including with respect to the vessel we have agreed to acquire, 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, the length and severity of epidemics and pandemics, including the ongoing outbreak of the 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 or events, including &#8220;trade wars&#8221;, armed conflicts including the war in Ukraine, the imposition of new international sanctions, acts by terrorists or acts of piracy on ocean-going vessels, potential disruption of shipping
        routes due to accidents, labor disputes or political events, vessel breakdowns and instances of off-hires and other important factors. Please see our filings with the U.S. Securities and Exchange Commission for a more complete discussion of these
        and other risks and uncertainties.</div>
      <div><br>
      </div>
      <div><br>
      </div>
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