<SEC-DOCUMENT>0001140361-25-010426.txt : 20250326
<SEC-HEADER>0001140361-25-010426.hdr.sgml : 20250326
<ACCEPTANCE-DATETIME>20250326160534
ACCESSION NUMBER:		0001140361-25-010426
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20250326
FILED AS OF DATE:		20250326
DATE AS OF CHANGE:		20250326

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Performance Shipping Inc.
		CENTRAL INDEX KEY:			0001481241
		STANDARD INDUSTRIAL CLASSIFICATION:	DEEP SEA FOREIGN TRANSPORTATION OF FREIGHT [4412]
		ORGANIZATION NAME:           	01 Energy & Transportation
		EIN:				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:		25773167

	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>ef20046256_6k.htm
<DESCRIPTION>6-K
<TEXT>
<html>
  <head>
    <title></title>
    <!-- Licensed to: Broadridge Financial Solution Inc.
         Document created using Broadridge PROfile 25.3.1.5296
         Copyright 1995 - 2025 Broadridge -->
  </head>
<body bgcolor="#ffffff" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000;">


  <hr align="center" style="border: none; border-bottom: 1px solid black; border-top: 4px solid black; height: 10px; color: #ffffff; background-color: #ffffff; text-align: center; margin-left: auto; margin-right: auto;">
  <div>
    <div style="text-align: center; color: rgb(0, 0, 0); font-size: 18pt; font-weight: bold;">FORM 6-K</div>
    <div><br>
    </div>
    <div style="text-align: center; color: rgb(0, 0, 0); font-size: 14pt;">SECURITIES AND EXCHANGE COMMISSION</div>
    <div style="text-align: center; color: rgb(0, 0, 0); font-size: 12pt;">Washington, D.C. 20549</div>
    <div><br>
    </div>
    <div style="text-align: center; color: #000000; font-weight: bold;">Report of Foreign Private Issuer</div>
    <div style="text-align: center; color: #000000; font-weight: bold;">Pursuant to Rule 13a-16 or 15d-16 of</div>
    <div style="text-align: center; color: #000000; font-weight: bold;">the Securities Exchange Act of 1934</div>
    <div><br>
    </div>
    <div style="text-align: center; color: #000000; font-weight: bold;">For the month of March 2025</div>
    <div><br>
    </div>
    <div style="text-align: center; color: #000000;">Commission File Number: 001-35025</div>
    <div><br>
    </div>
    <div style="text-align: center; color: rgb(0, 0, 0); font-size: 24pt; font-weight: bold;">PERFORMANCE SHIPPING INC.</div>
    <div style="text-align: center; color: #000000;">(Translation of registrant's name into English)</div>
    <div><font style="color: #000000;"> </font><br>
      </div>
    <div style="text-align: center; color: #000000;">373 Syngrou Avenue</div>
    <div style="text-align: center; color: #000000;">175 64 Palaio Faliro</div>
    <div style="text-align: center; color: #000000;">Athens, Greece</div>
    <div style="text-align: center; color: #000000;">(Address of principal executive office)</div>
    <div><br>
    </div>
    <div style="color: #000000;">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; color: #000000; font-weight: bold;">Form 20-F &#9746; Form 40-F &#9744;</div>
    <div><br>
    </div>
    <div>
      <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>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div class="BRPFPageBreak" style="page-break-after: always;">
        <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: center; color: #000000; font-weight: bold;">INFORMATION CONTAINED IN THIS FORM 6-K REPORT</div>
    <div><br>
    </div>
    <div>
      <div style="text-align: justify; text-indent: 27pt; color: #000000;">Attached to this report (this &#8220;Report&#8221;) on Form 6-K as <a href="ef20046256_ex99-1.htm">Exhibit 99.1</a> is a copy of the press release of Performance Shipping Inc. (the &#8220;Company&#8221;) dated March 24, 2025, titled
        &#8220;Performance Shipping Inc. Announces Sale of 2011-Built Aframax Vessel M/T P. Yanbu for US$39 Million and Completion of Delivery to Her New Owners.&#8221;</div>
      <div><br>
      </div>
    </div>
    <div style="text-align: justify; text-indent: 36pt; color: #000000;">The information contained in this Report on Form 6-K, excluding the statement in Exhibit 99.1 attributed to the Company&#8217;s Chief
      Executive Officer, is hereby incorporated by reference into the Company&#8217;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, the
      Company&#8217;s registration statement on Form F-3 (File No. 333-266946), filed with the SEC with an effective date of August 29, 2022, and the Company&#8217;s registration statement on Form F-3 (File No. 333-271398), filed with the SEC with an effective date of
      May 4, 2023.</div>
    <div>
      <div><br>
      </div>
    </div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div class="BRPFPageBreak" style="page-break-after: always;">
        <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: center; color: #000000; font-weight: bold;">SIGNATURES</div>
    <div><br>
    </div>
    <div style="text-align: justify; color: #000000;">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" border="0" id="zfcd7cb0b1ad34ccdaeac1860cb148e41" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 50%; vertical-align: top;">
            <div style="color: rgb(0, 0, 0); font-weight: bold;">PERFORMANCE SHIPPING INC.</div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 50%; vertical-align: top;">
            <div style="color: rgb(0, 0, 0);">(Registrant)</div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">
            <div><font style="color: #000000;">Dated: </font>March 26, 2025</div>
          </td>
          <td style="width: 50%; vertical-align: top;">
            <div style="color: rgb(0, 0, 0);"><u>/s/ Andreas Michalopoulos</u></div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 50%; vertical-align: top;">
            <div style="color: rgb(0, 0, 0);">By: Andreas Michalopoulos</div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 50%; vertical-align: top;">
            <div style="color: rgb(0, 0, 0);">Chief Executive Officer</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div><br>
      <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"></div>
  </div>


</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>ef20046256_ex99-1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<html>
  <head>
    <title></title>
    <!-- Licensed to: Broadridge Financial Solution Inc.
         Document created using Broadridge PROfile 25.3.1.5296
         Copyright 1995 - 2025 Broadridge -->
  </head>
<body bgcolor="#ffffff" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000;">
  <hr noshade="noshade" align="center" style="height: 4px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;">
  <div style="text-align: right;"> <font style="font-weight: bold;">Exhibit 99.1</font><br>
  </div>
  <div> <br>
  </div>
  <div>
    <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z260d5128ad7e4a3d8b8b43f2d8ee1058">

        <tr>
          <td style="width: 99.92%; vertical-align: top;">
            <div style="font-style: italic; font-weight: bold; color: rgb(0, 0, 0);">Corporate Contact:</div>
          </td>
        </tr>
        <tr>
          <td style="width: 99.92%; vertical-align: top;">
            <div style="color: rgb(0, 0, 0);">Andreas Michalopoulos</div>
          </td>
        </tr>
        <tr>
          <td style="width: 99.92%; vertical-align: top;">
            <div style="color: rgb(0, 0, 0);">Chief Executive Officer, Director and Secretary <br>
            </div>
          </td>
        </tr>
        <tr>
          <td rowspan="1" style="width: 99.92%; vertical-align: top; color: rgb(0, 0, 0);">Telephone: +30-216-600-2400</td>
        </tr>
        <tr>
          <td style="width: 99.92%; vertical-align: top;">
            <div style="color: rgb(0, 0, 0);">Email: <u>amichalopoulos@pshipping.com</u></div>
          </td>
        </tr>
        <tr>
          <td style="width: 99.92%; vertical-align: top;">
            <div style="color: rgb(0, 0, 0);">Website: <u>www.pshipping.com</u></div>
          </td>
        </tr>
        <tr>
          <td style="width: 99.92%; vertical-align: top; color: rgb(0, 0, 0);">&#160;</td>
        </tr>
        <tr>
          <td style="width: 99.92%; vertical-align: top;">
            <div style="font-style: italic; font-weight: bold; color: rgb(0, 0, 0);">Investor and Media Relations:</div>
          </td>
        </tr>
        <tr>
          <td style="width: 99.92%; vertical-align: top;">
            <div style="color: rgb(0, 0, 0);">Edward Nebb</div>
          </td>
        </tr>
        <tr>
          <td style="width: 99.92%; vertical-align: top;">
            <div style="color: rgb(0, 0, 0);">Comm-Counsellors, LLC</div>
          </td>
        </tr>
        <tr>
          <td style="width: 99.92%; vertical-align: top;">
            <div style="color: rgb(0, 0, 0);">Telephone: + 1-203-972-8350</div>
          </td>
        </tr>
        <tr>
          <td style="width: 99.92%; vertical-align: top;">
            <div style="color: rgb(0, 0, 0);">Email: <u>enebb@optonline.net</u></div>
          </td>
        </tr>

    </table>
    <div> <br>
    </div>
    <div style="text-align: center; font-weight: bold;">PERFORMANCE SHIPPING INC. ANNOUNCES SALE OF 2011-BUILT AFRAMAX VESSEL M/T P. YANBU FOR US$39 MILLION AND COMPLETION OF DELIVERY TO HER NEW OWNERS</div>
    <div>&#160;</div>
    <div style="text-align: justify;">ATHENS, GREECE, March 24, 2025 &#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, through a separate
      wholly-owned subsidiary, it has signed a Memorandum of Agreement to sell the 2011-built, 105,400 dwt Aframax tanker vessel, <font style="font-style: italic;">M/T P. Yanbu,</font> to an unaffiliated third party for a gross sale price of US$39
      million. The vessel was successfully delivered to her new owner today. The vessel was debt free at the time of sale.</div>
    <div>&#160;</div>
    <div style="text-align: justify;">The Company acquired the <font style="font-style: italic;">M/T P. Yanbu</font> in the fourth quarter of 2020 for US$22 million. This sale is expected to generate a gain of approximately US$21.5 million in the first
      quarter of 2025, excluding any commissions and transaction related costs.</div>
    <div>&#160;</div>
    <div style="text-align: justify;">Commenting on this transaction, Andreas Michalopoulos, the Company&#8217;s Chief Executive Officer, stated:</div>
    <div>&#160;</div>
    <div style="text-align: justify;">&#8220;The sale of the M/T P. Yanbu marks yet another milestone in our fleet renewal strategy, focused on our commitment to modernizing our fleet through our newbuild program and expansion through selective second-hand
      vessel acquisitions. We pursue these transactions opportunistically when favorable market conditions arise. The sale of this mid-aged vessel enables us to capture significant value amid appreciated tanker vessel values. With cash proceeds from this
      transaction, our cash balance is expected to increase in excess of US$105 million, representing more than twice our year-end debt balance of US$47.7 million. Following this vessel sale and the delivery of our three newbuild LR2 Aframax tankers, as of
      January 2026, our fleetwide average age will improve considerably, decreasing from 14 to 10 years. With a robust balance sheet, we look forward to the delivery of our three newbuild LNG-ready LR2 Aframax tankers and our newbuild LR1 chemical/product
      oil tanker, beginning with the delivery of our first newbuild LR2 tanker around August 2025.&#8221;</div>
    <div>&#160;</div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div class="BRPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </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 employs its fleet on spot voyages, through pool arrangements, and on time
      charters. </div>
    <div>&#160;</div>
    <div style="text-align: justify; font-weight: bold;">Cautionary Statement Regarding Forward-Looking Statements </div>
    <div>&#160;</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 vessels we have agreed to acquire, future market conditions and the prospective financing and employment of our
      vessels. The words &#8220;believe," &#8220;anticipate," &#8220;intends," &#8220;estimate," &#8220;forecast," &#8220;project," &#8220;plan," &#8220;potential," &#8220;will," &#8220;may," &#8220;should," &#8220;expect," &#8220;targets," &#8220;likely," &#8220;would," &#8220;could," &#8220;seeks," &#8220;continue," &#8220;possible," &#8220;might," &#8220;pending&#8221; and similar
      expressions, terms or phrases may identify forward-looking statements. </div>
    <div>&#160;</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>&#160;</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 vessels we agree 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 COVID-19, and their 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, general domestic and international political conditions or events, including &#8220;trade wars&#8221;, armed conflicts including the war in Ukraine and the war between Israel and Hamas or related regional conflicts, 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 US Securities and Exchange Commission for a more complete discussion of these and other risks and uncertainties.</div>
    <div>&#160;</div>
    <div>&#160;<br>
      <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"></div>
  </div>
</body>
</html>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
