Performance Shipping Inc (OQ:PSHG)
Business Focus: Deep Sea Freight
| Sector: Industrials | Industry: Marine Freight & Logistics |
| See Regulatory Filings on SEC | |
| Company Contact | |
| Address: | 373 Syngrou Ave., Palaio Faliro ATHINA 175 64 |
| Tel: | 1-203-9728350 |
| Website: | www.pshipping.com |
| IR: | See website |
| Key People | ||
| Aliki Paliou Chairman of the Board | Andreas Michalopoulos Chief Executive Officer, Secretary, Director | Anthony Argyropoulos Chief Financial Officer |
| Business Overview |
| Performance Shipping Inc is a Greece-based global provider of shipping transportation services. It owns containerships and focuses on providing sourcing opportunities for vessel purchases and sales, newbuilding acquisitions, chartering and financing arrangements. The Company's vessels are employed primarily on charters with liner companies carrying containerized cargo along worldwide shipping routes. The Company owns and operates vessels such as Panamax container vessel and Aframax tanker vessel. The Company's fleet is managed by Unitized Ocean Transport Limited, a wholly owned subsidiary. The Company's customers include national, regional and international companies. |
| Financial Overview |
| For the fiscal year ended 31 December 2023, Performance Shipping Inc revenues increased 45% to $108.9M. Net income applicable to common stockholders increased from $12M to $56.9M. Revenues reflect an increase in demand for the Company's products and services due to favorable market conditions. Net income benefited from Gain on vessels sale increase of 64% to $15.7M (income), Interest Income increase from $284K to $3.3M (income). |
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