Performance Shipping ( (PSHG) ) just unveiled an announcement.
On February 20, 2025, Performance Shipping Inc. announced its financial results for the fourth quarter and the year ending December 31, 2024. The company reported a net income of $9.7 million for the fourth quarter, a decrease from $25.0 million in the same period in 2023, primarily due to lower time-charter equivalent rates and fewer ownership days following the sale of a vessel. Despite the decline in revenue, the company maintained stable operations through efficient fleet management. The tanker market outlook for 2025 remains cautiously optimistic, with a projected growth in tonne-mile demand and a slight increase in fleet utilization, although challenges such as U.S. sanctions and trade flow shifts may impact market dynamics.
More about Performance Shipping
Performance Shipping Inc. is a global shipping company based in Athens, Greece, specializing in the ownership of tanker vessels. The company focuses on optimizing earnings and cash flow visibility through a balanced fleet deployment strategy that includes both spot market exposure and time charters.
YTD Price Performance: -12.63%
Average Trading Volume: 72,008
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $20.64M
Learn more about PSHG stock on TipRanks’ Stock Analysis page.