Performance Shipping Inc. (NASDAQ: PSHG) (“Performance Shipping” or the “Company”), a global shipping company specializing in the ownership of tanker vessels, today announced that, through a separate wholly-owned subsidiary, it has completed the previously announced sale of the 2009-built, 105,071 dwt Aframax tanker vessel M/T P. Sophia, with the successful delivery of the vessel to her new owners. The M/T P. Sophia was debt-free at the time of her delivery to the new owners.
As previously announced on February 17, 2026, the gross sale price of the vessel was US$35.65 million. The Company acquired the M/T P. Sophia in the third quarter of 2022 for a gross purchase price of approximately US$27.6 million.
Commenting on the delivery, Andreas Michalopoulos, the Company’s Chief Executive Officer, stated:
“The completion of this vessel sale, capitalizing on strong asset values, represents another important step in our fleet renewal strategy. This sale represents an increase of approximately 30% above the vessel’s acquisition price paid four years ago and further strengthens our liquidity position. Together with our recent corporate developments, this transaction reduces our pro forma average fleet age to approximately six years.”
