Performance Shipping (PSHG) has released an update.
Performance Shipping Inc. reports a profitable first quarter in 2024 with net income reaching $11.4 million, despite a decrease in revenue and time-charter equivalent rates compared to the previous year. The company cites a solid tanker market, supported by longer haul voyages and limited supply growth, as a key factor in their strong performance. Additionally, Performance Shipping announces its strategy for fleet expansion with new tanker constructions, aiming to enhance its participation in the energy transition.
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