1. PSHG delivered M/T P. Beverly Hills, enhancing its tanker fleet. 2. The acquisition signifies a milestone in fleet expansion for PSHG. 3. Employment with Repsol Trading ensures strong cash-flow visibility. 4. PSHG now operates twelve tankers, promoting efficiency and sustainability.
FAQ
Why Bullish?
The delivery of the M/T P. Beverly Hills enhances fleet size and operational capacity, historically leading to improved cash flow and market perception for shipping companies.
How important is it?
The strategic acquisition and positive cash flow visibility likely influence investor sentiment and stock prices.
Why Short Term?
Immediate employment with a reputable charterer like Repsol provides instant revenue, positively impacting short-term financial performance, similar to past acquisitions.
Performance Shipping Inc. Completes Acquisition with Delivery of M/T P. Beverly Hills
ATHENS, Greece, Dec. 22, 2025 (GLOBE NEWSWIRE) — Performance Shipping Inc. (NASDAQ: PSHG), a global shipping company focused on tanker vessel ownership, has announced the delivery of the M/T P. Beverly Hills, a 2019-built Suezmax tanker. This delivery marks the completion of a significant acquisition initiated in October 2025, solidifying the company’s operational capabilities in the tanker sector.
Details of the Delivery and Acquisition
The M/T P. Beverly Hills, previously known as Eco Beverly Hills, has a deadweight tonnage (dwt) of 157,286. With this vessel's addition, Performance Shipping Inc. increases its fleet size to a total of twelve (12) tanker vessels, which includes two newbuild tankers currently under construction. At present, the company operates ten tankers actively on the water.
CEO’s Insights on the Acquisition
Andreas Michalopoulos, Chief Executive Officer of Performance Shipping Inc., commented on this significant milestone, stating: “Following the previously announced delivery of our first Suezmax tanker, we are pleased to complete this transaction with the delivery of our second modern, eco-design Suezmax vessel. The acquisition of these two vessels represents an important milestone in our fleet expansion strategy, enhancing both the operational efficiency and environmental sustainability of our fleet.”
He also emphasized that these tankers will be immediately employed by Repsol Trading S.A., a well-known charterer, providing strong cash-flow visibility from the outset and highlighting the high quality and competitive nature of the PSHG fleet.
About Performance Shipping Inc.
Performance Shipping Inc. is a leading provider of shipping transportation services through its ownership of tanker vessels. The company employs its fleet on various operational arrangements such as spot voyages, pool arrangements, and time charters. This strategic positioning caters to the dynamic needs of the shipping industry.
Forward-Looking Statements
This announcement may include forward-looking statements as defined under the Private Securities Litigation Reform Act of 1995. Such statements may include various plans, goals, and strategies, as well as expectations regarding future performance and fleet employment. Terms like “believe,” “anticipate,” “estimate,” and “expect” are indicative of forward-looking statements.
While the management believes these statements reflect reasonable assumptions based on historical trends and available data, significant uncertainties may impact actual results. It is essential to consider various factors including global economic conditions, fluctuations in charter rates, regulatory changes, and other unforeseen events that may influence the tanker shipping industry.