Core Insights - Premarket trading is showing notable activity with significant price movements indicating potential opportunities for traders before the market opens [1] Premarket Gainers - Braze, Inc. (BRZE) is up 20% at $21.74 - Enliven Therapeutics, Inc. (ELVN) is up 17% at $36.50 - Kodiak AI, Inc. (KDK) is up 12% at $8.21 - VivoPower PLC (VIVO) is up 12% at $2.43 - Merlin, Inc. (MRLN) is up 9% at $13.47 - M-tron Industries, Inc. (MPTI) is up 8% at $69.00 - MKDWELL Tech Inc. (MKDW) is up 7% at $3.30 - Eve Holding, Inc. (EVEX) is up 6% at $2.65 - Terns Pharmaceuticals, Inc. (TERN) is up 5% at $52.60 - Performance Shipping Inc. (PSHG) is up 5% at $1.98 [3] Premarket Losers - Fitness Champs Holdings Limited (FCHL) is down 39% at $1.79 - Edible Garden AG Incorporated (EDBL) is down 15% at $1.16 - PMGC Holdings Inc. (ELAB) is down 10% at $2.59 - Battalion Oil Corporation (BATL) is down 9% at $8.24 - Sagtec Global Limited (SAGT) is down 9% at $2.00 - DigitalOcean Holdings, Inc. (DOCN) is down 7% at $78.51 - Velo3D, Inc. (VELO) is down 7% at $12.53 - Absci Corporation (ABSI) is down 7% at $2.79 - Phaos Technology Holdings (Caym) (POAS) is down 7% at $1.46 - 20/20 Biolabs, Inc. (AIDX) is down 6% at $1.53 [4]

Group 1 - Performance Shipping (PSHG) has entered into a sale and leaseback agreement for its newbuilding LR1 tanker vessel, M/T P. San Francisco, which is currently under construction and scheduled for delivery in early 2027 [1] - The total bareboat financing amount for the vessel is $37.8 million, with the company selling the vessel and then chartering it back on a bareboat basis for a ten-year period [1] - The bareboat charter includes 120 monthly installments of $5,451 per day, with an implied interest rate of Term SOFR plus 2.00% per annum, and a balloon payment of approximately $18.1 million due with the last installment [1] - The company has options to repurchase the vessel at predetermined rates after the second anniversary of the bareboat charter [1]

Core Viewpoint - Performance Shipping Inc. has entered into a sale and leaseback agreement for its new LR1 tanker vessel, M/T P. San Francisco, which is under construction and scheduled for delivery in early 2027 [1][2]. Financing Details - The total bareboat financing amount is US$37.8 million, with the vessel sold and chartered back for a ten-year period at a daily rate of US$5,451, implying an interest rate of Term SOFR plus 2.00% per annum [2]. - A balloon payment of approximately US$18.1 million is due with the last installment, and the company has options to repurchase the vessel at predetermined rates after the second anniversary of the charter [2]. Strategic Insights - The financing arrangement secures 70% of the vessel's contract price, reflecting a conservative cash flow breakeven level of US$22,200 per day [3]. - The vessel has been chartered to Mercuria Energy Trading S.A. for four years at a daily gross charter rate of US$23,750, providing coverage above the cash flow breakeven level, with options for three additional one-year extensions [4]. - This financing aligns with the company's strategy of fleet renewal, deployment, and balanced financial management [4].

Core Insights - Performance Shipping Inc. reported a net income of $7.6 million for Q4 2025, down from $9.7 million in Q4 2024, with earnings per share of $0.57 and $0.19 for basic and diluted shares respectively [1][2][3] - The company's total revenue for Q4 2025 was $26.2 million, an increase from $21.7 million in Q4 2024, primarily due to increased ownership days from new vessel deliveries [2][4] - For the full year 2025, net income rose to $50.0 million from $43.7 million in 2024, with earnings per share increasing to $3.87 from $3.39 [3][4] Financial Performance - Revenue for Q4 2025 was $26.2 million, net of voyage expenses, compared to $21.7 million in Q4 2024 [2][15] - The average Time Charter Equivalent (TCE) rate for Q4 2025 was $32,221, slightly lower than $32,652 in Q4 2024 [2][18] - Net cash provided by operating activities was $9.7 million in Q4 2025, down from $12.1 million in Q4 2024 [2][30] Operational Highlights - The company generated total revenues of $84.2 million for the fiscal year 2025, compared to $87.4 million in 2024 [4][15] - The fleet's average age is expected to decline to nine years following the delivery of new vessels and the sale of the oldest vessel [6][7] - The company has a revenue backlog of approximately $350 million, with fixed charter coverage of 88% for 2026 and 72% for 2027 [5][6] Market Outlook - The tanker market is expected to remain firm in 2026, driven by growth in seaborne oil trade and increased exports from the Middle East and Latin America [5][10] - Seaborne oil trade is projected to grow by approximately 0.7% in 2026 and 1.4% in 2027, while fleet supply is estimated to grow by 4.2% in 2026 and 5.5% in 2027 [10][12] - Daily spot charter rates for Aframax and Suezmax tankers have seen significant increases, with Aframax rates averaging $61,382 and Suezmax rates averaging $77,370 in Q4 2025 [16][10] Corporate Developments - The company completed a $50 million tap issuance under its Nordic bonds and is projected to increase its cash position to approximately $135 million [7][12] - The company has entered into several time-charter contracts for its vessels, including contracts with Repsol Trading SA and ExxonMobil [12][10] - The company has secured contracts for the construction of two new Suezmax tankers, expected to be delivered in 2028 and 2029 [6][12]

Core Viewpoint - Performance Shipping Inc. has signed contracts for the construction of two new Suezmax tanker vessels, expanding its fleet and market presence in a segment with positive long-term fundamentals [1][3]. Company Overview - Performance Shipping Inc. is a global shipping company specializing in tanker vessel ownership, employing its fleet on spot voyages, pool arrangements, and time charters [6]. Contract Details - The company has signed shipbuilding contracts with China Shipbuilding Trading Co. Ltd. and Shanghai Waigaoqiao Shipbuilding Co. Ltd. for two 158,000 DWT Suezmax tankers, with a contract price of US$81.5 million per vessel [1][2]. - Payment structure includes 15% upon receipt of a refund guarantee, 10% at each milestone (steel cutting, keel laying, launching), and 55% upon delivery [2]. Market Outlook - Upon delivery in 2028 and 2029, approximately 25% of the global Suezmax fleet will be over 20 years old, and nearly half will consist of non-eco vessels, indicating a favorable long-term supply outlook [4]. - The company anticipates securing attractive employment for the new vessels due to consistent growth in global energy demand and geopolitical developments affecting trade flows [4]. Strategic Partnerships - The company expresses confidence in its partnership with Shanghai Waigaoqiao Shipbuilding Co. Ltd., highlighting a strong track record of delivering technologically advanced vessels [5]. Vessel Specifications - The new vessels will be Tier III, scrubber-fitted, and compliant with the latest fuel-efficiency and environmental standards, enhancing their commercial competitiveness and long-term earnings capacity [6].

Core Viewpoint - Performance Shipping Inc. has signed a Memorandum of Agreement to sell its oldest vessel, the M/T P. Sophia, for a gross sale price of US$35.65 million, reflecting a strategic move to capitalize on the strong Aframax tanker market and enhance the company's fleet profile [1][2]. Group 1: Sale Details - The M/T P. Sophia, a 2009-built Aframax tanker with a deadweight tonnage of 105,071 dwt, is expected to be delivered to the new owners in mid-2026, subject to customary closing conditions [1]. - The vessel was acquired by the company in Q3 2022 for a gross purchase price of US$27,577,320, indicating a significant appreciation in value [2]. - The sale is projected to generate an approximate gain of US$8 million compared to the acquisition price, which will strengthen the company's liquidity position [4]. Group 2: Operational Impact - The M/T P. Sophia currently serves as collateral for the company's outstanding Nordic bond, and the net proceeds from the sale will be applied according to the bond agreement [2]. - The divestment of the M/T P. Sophia will reduce the fleetwide average age, enhancing operational efficiency and commercial competitiveness [3]. - The company will continue to operate the vessel until the expiration of the current charter, which is expected to conclude around late May 2026, at a rate of US$43,000 per day [3].

Core Viewpoint - Performance Shipping Inc. has secured a three-year time charter contract with PBF Holding Company for its M/T P. Monterey tanker, enhancing cash flow visibility and increasing the company's backlog to approximately US$349 million as of January 1, 2026 [2]. Company Overview - Performance Shipping Inc. is a global provider of shipping transportation services, specializing in the ownership of tanker vessels, and operates its fleet through time charters and spot voyages [3]. Charter Contract Details - The gross charter rate for the M/T P. Monterey is set at US$31,000 per day, with the charter expected to generate approximately US$33 million in gross revenue over the minimum duration [2]. - The charter is anticipated to commence in mid-February, with a duration of three years plus or minus 30 days at the option of the Charterer [2]. Strategic Focus - The company emphasizes a well-defined employment strategy that prioritizes medium and long-term time charter contracts with staggered maturities, aiming to generate steady revenues and provide renewal opportunities [2].

Core Viewpoint - Performance Shipping Inc. has successfully named and delivered the M/T P. Marseille, marking a significant milestone in its fleet expansion and renewal strategy [1][2]. Fleet Expansion and Newbuilding Program - The M/T P. Marseille is the third vessel in the company's newbuilding program, constructed at Shanghai Waigaoqiao Shipbuilding Co. Ltd. in China, and is a 114,000 DWT LNG-ready Tier III product/crude oil tanker [1][2]. - The company has completed its three-LR2-vessel newbuilding program, which includes the M/T P. Massport and M/T P. Tokyo, all of which have secured five-year time charter contracts with Clearlake Shipping Pte Ltd [2][3]. Operational Efficiency and Revenue Stability - The M/T P. Marseille has commenced operations under a five-year time charter contract with options for a sixth and seventh year, providing secured revenues and enhancing cash flow visibility [2][4]. - The addition of the modern, fuel-efficient vessel is expected to improve operational efficiency and reduce the company's environmental footprint [3]. Acknowledgments and Future Outlook - The company expressed gratitude to Shanghai Waigaoqiao Shipbuilding for their professionalism and quality workmanship during the construction process [4]. - One LR1 chemical/product tanker remains under construction and is scheduled for delivery in early 2027, indicating ongoing fleet development [3].

Core Viewpoint - Performance Shipping Inc. has successfully placed a USD 50 million tap issue in its outstanding senior secured bond, increasing the total outstanding amount to USD 150 million, with a fixed coupon of 9.875% per annum [1] Company Overview - Performance Shipping Inc. is a global provider of shipping transportation services, specializing in the ownership of tanker vessels, employing its fleet on spot voyages, pool arrangements, and time charters [3]

Core Viewpoint - Performance Shipping Inc. has successfully completed the acquisition of two 2019-built Suezmax tankers, enhancing its fleet and operational efficiency while ensuring strong cash-flow visibility through a reputable charterer [2]. Group 1: Company Overview - Performance Shipping Inc. is a global provider of shipping transportation services, specializing in the ownership of tanker vessels [3]. - The company operates a fleet that includes spot voyages, pool arrangements, and time charters [3]. Group 2: Fleet Expansion - The delivery of the M/T P. Beverly Hills marks the completion of the company's Suezmax acquisition, bringing the total fleet to twelve tanker vessels, including two newbuild tankers under construction and ten currently operating [2]. - The acquisition of the two Suezmax vessels is a significant milestone in the company's fleet expansion strategy, aimed at improving operational efficiency and environmental sustainability [2]. Group 3: Financial Implications - The immediate employment of the new vessels with Repsol Trading S.A. provides strong cash-flow visibility from the outset, highlighting the high quality and commercial competitiveness of the company's fleet [2].