Overview
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- TickerPSHG on Nasdaq1
- IndustryDeep Sea Foreign Transportation of Freight1
- Headquarters1T1
- Incorporated inMarshall Islands3
- Business address373 Syngrou Ave., 17564 Palaio Faliro, Athens3
- Filer categoryNon-accelerated filer3
- Legal formCorporation
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On February 22, 2023, the re-election of Andreas Michalopoulos and Loïsa Ranunkel, each as a Class I director was approved by the requisite vote at our 2023 Annual Meeting.4 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Other costs33¢$27.4M
- Interest8¢$6.8M
- Profit59¢$50.0M
Out of $84.2M in revenue.2
Where each dollar of operating cash went, fiscal 2025
- Kept or used elsewhere100¢$50.1M
Out of $50.1M of cash from operations.2
Financial statements
No quarterly figures reported.
Every line of the income statement as filed: the last 3 fiscal years, latest first.2
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Revenue (Note 3) | $84.2M | $87.4M | $108.9M |
| Voyage expenses | $5.2M | $4.2M | $4.4M |
| Vessel operating expenses | $21.6M | $19.8M | $21.9M |
| Depreciation and amortization of deferred charges (Note 6) | $15.1M | $13.3M | $14.8M |
| General and administrative expenses (Notes 4, 8 and 9) | $9.7M | $8.3M | $8.0M |
| Gain on vessel's sale (Note 6) | -$19.5M | $0 | -$15.7M |
| Provision for / (Reversal of) credit losses (Note 3) | $27.0K | -$7.0K | -$37.0K |
| Foreign currency losses | $100.0K | $1.0K | $64.0K |
| Operating income | $51.9M | $41.8M | $75.5M |
| Interest and finance costs (Notes 5, 7 and 10) | -$6.8M | -$1.3M | -$9.6M |
| Loss from debt extinguishment | $0 | $0 | -$387.0K |
| Interest income | $4.8M | $3.3M | $3.3M |
| Changes in fair value of warrants' liability (Note 9) | -$4.0K | $6.0K | $561.0K |
| Total other income / (expenses), net | -$2.0M | $1.9M | -$6.1M |
| Net income | $50.0M | $43.7M | $69.4M |
| Income allocated to participating securities (Note 11) | $0 | $0 | -$2.0K |
| Deemed dividend to the Series C preferred stockholders due to triggering of a down-round feature (Notes 9 and 11) | $0 | $0 | -$9.8M |
| Deemed dividend to the July and August 2022 warrants' holders due to triggering of a down-round feature (Notes 9 and 11) | $0 | $0 | -$789.0K |
| Dividends on preferred stock (Note 11) | -$1.8M | -$1.8M | -$1.9M |
| Net income attributable to common stockholders | $48.1M | $41.9M | $56.9M |
| Earnings per common share, basic (Note 11) (in dollars per share) | $3.87 | $3.39 | $5.43 |
| Earnings per common share, diluted (Note 11) (in dollars per share) | $1.28 | $1.11 | $1.91 |
| Weighted average number of common shares, basic (Note 11) (in shares) | 12.4M shares | 12.4M shares | 10.5M shares |
| Weighted average number of common shares, diluted (Note 11) (in shares) | 38.9M shares | 39.2M shares | 35.5M shares |
No quarter-by-quarter statement was filed.
No quarterly figures reported.
Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.2
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Cash and cash equivalents | $48.2M | $70.3M | ||
| Accounts receivable, net (Note 3) | $6.3M | $5.8M | ||
| Inventories | $949.0K | $549.0K | ||
| EU allowances (Note 3) | $198.0K | $0 | ||
| Prepaid expenses and other assets | $2.4M | $2.0M | ||
| Total current assets | $58.0M | $78.7M | ||
| Advances for vessels under construction and other vessels' costs (Note 5) | $48.7M | $58.5M | $11.3M | |
| Vessels, net (Note 6) | $449.7M | $189.6M | ||
| Property and equipment, net | $58.0K | $34.0K | ||
| Total fixed assets | $498.5M | $248.1M | ||
| Restricted cash, non-current (Note 7) | $1.1M | $1.0M | ||
| Right of use asset under operating leases | $67.0K | $50.0K | ||
| Deferred charges, net | $2.2M | $2.4M | ||
| Other non-current assets | $0 | $226.0K | ||
| Total non-current assets | $3.4M | $3.7M | ||
| Total assets | $559.9M | $330.4M | ||
| Current portion of long-term debt, net of unamortized deferred financing costs (Note 7) | $12.4M | $7.4M | ||
| Accounts payable, trade and other | $3.4M | $2.2M | ||
| Due to related parties (Note 4) | $17.0K | $615.0K | ||
| Accrued liabilities (Note 7) | $9.2M | $2.8M | ||
| Deferred revenue (Note 3) | $0 | $930.0K | ||
| Lease liabilities, current | $67.0K | $50.0K | ||
| EU allowances liability (Note 3) | $1.1M | $789.0K | ||
| Total current liabilities | $26.2M | $14.9M | ||
| Long-term debt, net of unamortized deferred financing costs (Note 7) | $114.8M | $40.0M | ||
| Bonds, net of unamortized discounts and deferred financing costs (Note 7) | $95.1M | $0 | ||
| Other liabilities, non-current | $262.0K | $246.0K | ||
| Fair value of warrants' liability (Note 9) | $30.0K | $27.0K | ||
| Total long-term liabilities | $210.2M | $40.3M | ||
| Preferred stock, $0.01 par value; 25,000,000 shares authorized, 50,726 and 50,726 Series B, and 1,423,912 and 1,423,912 Series C issued and outstanding as at December 31, 2025 and 2024, respectively (Note 9) | $15.0K | $15.0K | ||
| Common stock, $0.01 par value; 500,000,000 shares authorized; 12,432,158 and 12,432,158 issued and outstanding as at December 31, 2025 and 2024, respectively (Note 9) | $124.0K | $124.0K | ||
| Additional paid-in capital (Note 9) | $534.3M | $534.3M | ||
| Other comprehensive income | $102.0K | $53.0K | ||
| Accumulated deficit | -$211.1M | -$259.2M | ||
| Total stockholders' equity | $323.4M | $275.2M | $233.2M | $155.7M |
| Total liabilities and stockholders' equity | $559.9M | $330.4M | ||
| Preferred stock, par value (in dollars per share) | $0.01 | $0.01 | ||
| Preferred stock, shares authorized (in shares) | 25.0M shares | 25.0M shares | ||
| Common stock, par value (in dollars per share) | $0.01 | $0.01 | ||
| Common stock, shares authorized (in shares) | 500.0M shares | 500.0M shares | ||
| Common stock, shares issued (in shares) | 12.4M shares | 12.4M shares | ||
| Common stock, shares outstanding (in shares) | 12.4M shares | 12.4M shares |
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Cash and cash equivalents | $48.2M | $70.3M | ||
| Accounts receivable, net (Note 3) | $6.3M | $5.8M | ||
| Inventories | $949.0K | $549.0K | ||
| EU allowances (Note 3) | $198.0K | $0 | ||
| Prepaid expenses and other assets | $2.4M | $2.0M | ||
| Total current assets | $58.0M | $78.7M | ||
| Advances for vessels under construction and other vessels' costs (Note 5) | $48.7M | $58.5M | $11.3M | |
| Vessels, net (Note 6) | $449.7M | $189.6M | ||
| Property and equipment, net | $58.0K | $34.0K | ||
| Total fixed assets | $498.5M | $248.1M | ||
| Restricted cash, non-current (Note 7) | $1.1M | $1.0M | ||
| Right of use asset under operating leases | $67.0K | $50.0K | ||
| Deferred charges, net | $2.2M | $2.4M | ||
| Other non-current assets | $0 | $226.0K | ||
| Total non-current assets | $3.4M | $3.7M | ||
| Total assets | $559.9M | $330.4M | ||
| Current portion of long-term debt, net of unamortized deferred financing costs (Note 7) | $12.4M | $7.4M | ||
| Accounts payable, trade and other | $3.4M | $2.2M | ||
| Due to related parties (Note 4) | $17.0K | $615.0K | ||
| Accrued liabilities (Note 7) | $9.2M | $2.8M | ||
| Deferred revenue (Note 3) | $0 | $930.0K | ||
| Lease liabilities, current | $67.0K | $50.0K | ||
| EU allowances liability (Note 3) | $1.1M | $789.0K | ||
| Total current liabilities | $26.2M | $14.9M | ||
| Long-term debt, net of unamortized deferred financing costs (Note 7) | $114.8M | $40.0M | ||
| Bonds, net of unamortized discounts and deferred financing costs (Note 7) | $95.1M | $0 | ||
| Other liabilities, non-current | $262.0K | $246.0K | ||
| Fair value of warrants' liability (Note 9) | $30.0K | $27.0K | ||
| Total long-term liabilities | $210.2M | $40.3M | ||
| Preferred stock, $0.01 par value; 25,000,000 shares authorized, 50,726 and 50,726 Series B, and 1,423,912 and 1,423,912 Series C issued and outstanding as at December 31, 2025 and 2024, respectively (Note 9) | $15.0K | $15.0K | ||
| Common stock, $0.01 par value; 500,000,000 shares authorized; 12,432,158 and 12,432,158 issued and outstanding as at December 31, 2025 and 2024, respectively (Note 9) | $124.0K | $124.0K | ||
| Additional paid-in capital (Note 9) | $534.3M | $534.3M | ||
| Other comprehensive income | $102.0K | $53.0K | ||
| Accumulated deficit | -$211.1M | -$259.2M | ||
| Total stockholders' equity | $323.4M | $275.2M | $233.2M | $155.7M |
| Total liabilities and stockholders' equity | $559.9M | $330.4M | ||
| Preferred stock, par value (in dollars per share) | $0.01 | $0.01 | ||
| Preferred stock, shares authorized (in shares) | 25.0M shares | 25.0M shares | ||
| Common stock, par value (in dollars per share) | $0.01 | $0.01 | ||
| Common stock, shares authorized (in shares) | 500.0M shares | 500.0M shares | ||
| Common stock, shares issued (in shares) | 12.4M shares | 12.4M shares | ||
| Common stock, shares outstanding (in shares) | 12.4M shares | 12.4M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 3 fiscal years, latest first.2
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net income | $50.0M | $43.7M | $69.4M |
| Depreciation and amortization of deferred charges (Note 6) | $15.1M | $13.3M | $14.8M |
| Amortization of deferred financing costs and bonds discounts (Note 10) | $809.0K | $107.0K | $244.0K |
| Financing costs | $0 | $0 | $340.0K |
| Changes in fair value of warrants' liability | $4.0K | -$6.0K | -$561.0K |
| Amortization of prepaid charter revenue | $0 | $0 | $54.0K |
| Gain on vessel's sale (Note 6) | -$19.5M | $0 | -$15.7M |
| Compensation cost on restricted stock and stock option awards (Note 9) | $0 | $0 | $52.0K |
| Loss from debt extinguishment | $0 | $0 | $387.0K |
| Actuarial gain / (loss) | $49.0K | $4.0K | -$17.0K |
| Accounts receivable | -$293.0K | $3.2M | $830.0K |
| Deferred voyage expenses | $0 | $0 | $20.0K |
| Inventories | -$400.0K | $1.7M | $834.0K |
| EU allowances | -$86.0K | $0 | $0 |
| Prepaid expenses and other assets | -$419.0K | $413.0K | $406.0K |
| Right of use asset under operating leases | -$17.0K | $49.0K | $64.0K |
| Other non-current assets | $0 | -$226.0K | $72.0K |
| Accounts payable, trade and other | $934.0K | -$2.7M | $16.0K |
| Due to related parties | -$598.0K | $370.0K | -$90.0K |
| Accrued liabilities | $6.3M | -$244.0K | $87.0K |
| Deferred revenue | -$930.0K | $930.0K | -$1.4M |
| Other liabilities, non-current | $16.0K | $32.0K | $58.0K |
| Lease liabilities under operating leases | $17.0K | -$49.0K | -$64.0K |
| Drydock costs | -$888.0K | -$769.0K | -$1.9M |
| Net Cash provided by Operating Activities | $50.1M | $59.9M | $68.0M |
| Advances for vessels under construction and other vessel costs (Note 5) | -$26.9M | -$47.2M | -$11.3M |
| Vessel acquisitions and other vessels' costs (Note 6) | -$254.6M | $0 | -$64.0K |
| Proceeds from sale of vessels, net of expenses (Note 6) | $36.9M | $0 | $37.6M |
| Payments for vessels' improvements (Note 6) | $0 | -$231.0K | -$510.0K |
| Property and equipment additions | -$54.0K | -$17.0K | -$38.0K |
| Net Cash (used in) / provided by Investing Activities | -$244.6M | -$47.4M | $25.7M |
| Proceeds from long-term debt (Note 7) | $119.4M | $0 | $2.1M |
| Proceeds from bonds, net of discounts (Note 7) | $97.0M | $0 | $0 |
| Repayments / Prepayments of long-term debt (Note 7) | -$38.4M | -$7.5M | -$75.4M |
| Issuance of common stock and warrants, net of issuance costs (Note 9) | $0 | $0 | $11.4M |
| Proceeds from exercise of Series A and B warrants (Note 9) | $0 | $158.0K | $330.0K |
| Issuance of preferred stock, net of expenses (Note 9) | $0 | $0 | $482.0K |
| Common shares re-purchase and retirement, including expenses (Note 9) | $0 | $0 | -$2.7M |
| Issuance of common stock under ATM program, net of issuance costs (Note 9) | $0 | $0 | $673.0K |
| Payments of financing costs (Note 7) | -$3.7M | -$226.0K | -$140.0K |
| Cash dividends (Note 11) | -$1.8M | -$1.8M | -$1.9M |
| Net Cash provided by / (used in) Financing Activities | $172.5M | -$9.4M | -$65.1M |
| Net (decrease) / increase in cash, cash equivalents and restricted cash | -$22.1M | $3.0M | $28.5M |
| Alternative cashless exercise of Series A warrants | $0 | $0 | $3.4M |
| Non-cash investing activities | $368.0K | $0 | $0 |
| Interest payments, net of capitalized amounts | $4.2M | $3.5M | $9.1M |
No quarter-by-quarter statement was filed.
Corporate structure
Performance Shipping Inc. sits at the top of its group. 1 entity on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of Performance Shipping Inc.
- Mango Shipping Corp. Filed SC 13D/A on Performance Shipping Inc., latest Mar 20, 2024 (5 filings since Feb 11, 2022)
- INTRACOASTAL CAPITAL, LLC Filed SC 13G/A on Performance Shipping Inc., latest Feb 6, 2024 (4 filings since Jul 27, 2022)
- George Economou Filed SC 13D/A on Performance Shipping Inc., latest Oct 11, 2023 (5 filings since Aug 25, 2023)
- MITZELA CORP. Filed SC 13D on Performance Shipping Inc., latest Sep 1, 2023
- Funicular Funds, LP Filed SC 13G/A on Performance Shipping Inc., latest Aug 31, 2023 (4 filings since Jul 22, 2022)
- Lind Global Fund II LP Filed SC 13G/A on Performance Shipping Inc., latest Feb 13, 2023 (2 filings since Jul 22, 2022)
- L1 Capital Global Opportunities Master Fund, Ltd. Filed SC 13G/A on Performance Shipping Inc., latest Feb 9, 2023 (2 filings since Jul 22, 2022)
- Performance Shipping Inc. 1T
Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What Performance Shipping Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Property and equipment
| Item | Latest | A year before | Change |
|---|---|---|---|
| Property and equipment, net | $498.5M2 Dec 31, 2025 | $248.1M2 Dec 31, 2024 | +100.9% |
| Operating-lease assets (leased space) | $67.0K2 Dec 31, 2025 | $50.0K2 Dec 31, 2024 | +34.0% |
Investments
| Item | Latest | A year before | Change |
|---|---|---|---|
| Cash and cash equivalents | $48.2M2 Dec 31, 2025 | $70.3M2 Dec 31, 2024 | −31.5% |
Inventory
Leadership
Who has led Performance Shipping Inc., and when. Pick a name to see everywhere that person has worked.
Chief executive
Chief financial officer
- Chief executive officerAndreas Nikolaos Michalopoulos Apr 1, 2026 to now11
- Chief financial officerAnthony Constantine Argyropoulos Apr 8, 2026 to now12
Board members and other officers (5)
- Board memberAliki Paliou Apr 1, 2026 to now13
- Board memberAndreas Nikolaos Michalopoulos Apr 1, 2026 to now11
- Board memberMichail Boutaris Apr 1, 2026 to now14
- Board memberPapadopoulos Alexandros Papageorgiou Apr 1, 2026 to now15
- Board memberRanunkel Loisa Marie Anita Catrice Apr 1, 2026 to now16
Former names
- Diana Containerships Inc.Apr 15, 2010 to Feb 25, 20193
Timeline
- Apr 1, 2026New chief executive Andreas Nikolaos Michalopoulos becomes CEO11
Calendar
Coming up
- Nov 24, 2026Reports results for the quarter ending Sep/202617
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
Filings
232 filings to the SEC since October 2021: 5 annual reports, 6 insider forms, 37 large holders, 1 private raises, 183 other. The latest 20:
- Oct 6, 20266-K EDGAR
- Jul 31, 20266-K EDGAR
- Jul 15, 20266-K EDGAR
- Jul 8, 20266-K EDGAR
- Jul 6, 20266-K EDGAR
- Jun 29, 20266-K EDGAR
- Jun 12, 2026CB EDGAR
- Jun 12, 2026F-X EDGAR
- May 26, 20266-K EDGAR
- May 21, 2026EFFECT EDGAR
- May 19, 2026CORRESP EDGAR
- May 15, 2026UPLOAD EDGAR
- May 4, 2026F-3 EDGAR
- Apr 27, 202620-F EDGAR
- Apr 16, 20266-K EDGAR
- Apr 14, 20266-K EDGAR
- Apr 8, 20263 EDGAR
- Apr 1, 20263 EDGAR
- Apr 1, 20263 EDGAR
- Apr 1, 20263 EDGAR
The 232 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- Mango Shipping Corp.SC 13D/A, 5 filings Feb 11, 2022 to Mar 20, 202418
- INTRACOASTAL CAPITAL, LLCSC 13G/A, 4 filings Jul 27, 2022 to Feb 6, 202419
- George EconomouSC 13D/A, 5 filings Aug 25, 2023 to Oct 11, 202320
- MITZELA CORP.SC 13D, 1 filing Sep 1, 202321
- Funicular Funds, LPSC 13G/A, 4 filings Jul 22, 2022 to Aug 31, 202322
- Lind Global Fund II LPSC 13G/A, 2 filings Jul 22, 2022 to Feb 13, 202323
- L1 Capital Global Opportunities Master Fund, Ltd.SC 13G/A, 2 filings Jul 22, 2022 to Feb 9, 202324
Funding
Where the company's money came from, by calendar year: private offerings filed with the SEC, federal grants, loans, contracts and other assistance from USAspending.gov, and PPP loans from the SBA. Each bar links to the records below.
Private raises
Private offerings the company reported to the SEC on Form D. The amount is what the latest filing says was sold so far, charted in the year of the first sale. Covers filings since Oct 1, 2021.
SEC filer profile
How Performance Shipping Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGARPerformance Shipping Inc.1
- CIK0001481241
- Filer statusNon-accelerated filer not an emerging growth company; not a shell company4
- Incorporated inMarshall Islands4
- Fiscal year endsDecember 311
- Industry code (SIC)4412 Deep Sea Foreign Transportation of Freight1
- SEC reviewing officeOffice of Energy & Transportation, Division of Corporation Finance1
- Business address373 Syngrou Ave., 17564 Palaio Faliro, Athens, Greece1
- Phone3021660024001
- Shares outstanding12,432,158 Common Stock shares; 50,726 Series B Preferred Stock shares; 1,423,912 Series C Preferred Stock shares as of Dec 31, 20254
- AuditorErnst & Young (Hellas) Certified Auditors Accountants S.A., Athens, Greece PCAOB ID 1457; no auditor attestation of internal control over financial reporting4
- On EDGAR sinceApr 15, 20101
- Filings648 in all: 6-K (392), SC 13D/A (43), 424B3 (28), CORRESP (23), 20-F (16), UPLOAD (16), SC 13G (15), SC 13G/A (15)1
All 36 form types
EFFECT (12), SC 13D (10), 424B5 (9), F-3 (9), 3 (7), F-1/A (7), F-3/A (5), SC 14D9/A (5), 6-K/A (4), IRANNOTICE (4), SC TO-I/A (4), FWP (3), 20-F/A (2), 4 (2), 8-A12B (2), D (2), F-1 (2), 424B1 (1), 424B4 (1), 8-A12B/A (1), ARS (1), CB (1), CERTNAS (1), F-4 (1), F-4/A (1), F-X (1), SC 14D9 (1), SC TO-I (1)
- Latest filingsAnnual report (20-F) Apr 27, 2026
Securities registered for trading
| Class | Symbol | Exchange |
|---|---|---|
| Common shares, $0.01 par value, including the Preferred stock purchase rights | PSHG | Nasdaq |
From the cover page of the 20-F filed Apr 27, 2026 (Section 12(b) of the Exchange Act).4
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1
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- 6
- 7
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- 13SEC EDGARAliki Paliou, Board member
- 14SEC EDGARMichail Boutaris, Board member
- 15
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- 17NasdaqNasdaq calendar
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