Performance Shipping (NASDAQ:PSHG) is a Marshall Islands–incorporated company engaged in the seaborne transportation of drybulk commodities. The company provides marine shipping services through a fleet of modern drybulk carriers that are primarily chartered-in from third parties and chartered-out to customers under long-term and spot contracts. Performance Shipping delivers coal, grains, iron ore and other bulk raw materials to industrial and agricultural markets worldwide, catering to energy producers, mining houses and agricultural exporters.
The company’s fleet consists of Panamax, Supramax and Kamsarmax class vessels, each equipped with on-board cranes and cargo handling systems that enhance loading and unloading efficiency at ports with limited shore infrastructure. By employing a balanced mix of long-term time charters and period charters, Performance Shipping seeks to optimize fleet utilization, manage exposure to daily charter rate fluctuations and maintain flexibility to capitalize on favorable market conditions.
Performance Shipping began trading on the Nasdaq Stock Market under the ticker symbol PSHG following its spin-off from Scorpio Bulkers Inc. in 2017. Since its inception, the company has pursued a disciplined growth strategy focused on acquiring and chartering vessels that meet stringent regulatory, environmental and safety standards. In recent years, Performance Shipping has advanced its fleet renewal program by adding vessels with fuel-efficient engine designs and complying with International Maritime Organization (IMO) emissions regulations.
The company’s leadership team comprises seasoned maritime professionals from the Scorpio Group, with extensive backgrounds in marine operations, chartering and vessel finance. Under the guidance of Chairman Emanuele A. Lauro and Chief Executive Officer Zein Obaid, Performance Shipping continues to strengthen its position in the drybulk market. The firm’s governance framework and operational protocols are designed to promote safety, environmental stewardship and reliability for a global customer base spanning Asia, Europe, the Americas and beyond.
