SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13A-16 OR 15D-16 OF THE SECURITIES EXCHANGE ACT OF 1934
For the month of March 2020
Commission File Number: 001-35025
PERFORMANCE SHIPPING INC.
(Translation of registrant's name into English)
Pendelis 18, 175 64 Palaio Faliro, Athens, Greece
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F [X] Form 40-F [ ]
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): [ ].
Note: Regulation S-T Rule 101(b)(1) only permits the submission in
paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): [ ].
Note: Regulation S-T Rule 101(b)(7) only permits the submission in
paper of a Form 6-K if submitted to furnish a report or other document that the registrant foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized
(the registrant's "home country"), or under the rules of the home country exchange on which the registrant's securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to
the registrant's security holders, and, if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR.
INFORMATION CONTAINED IN THIS FORM 6-K REPORT
Attached to this Report on Form 6-K as Exhibit 99.1 is a press release dated March 30, 2020 of Performance Shipping Inc. (the “Company”)
announcing that, through a separate wholly-owned subsidiary, the Company has taken delivery of the M/T P. Kikuma (formerly “FSL Shanghai”), a 2007-built
Aframax tanker of 115,915 dwt that the Company entered into an agreement to purchase in February 2020.
The information contained in this Report on Form 6-K, excluding the included quote by Mr. Andreas Michalopoulos, is hereby
incorporated by reference into the Company's registration statement on Form F-3 (File no. 333-197740), filed with the U.S. Securities and Exchange Commission (the "SEC") with an effective date of August 13, 2014, and the Company's registration
statement on Form F-3 (File No. 333-216944), filed with the SEC with an effective date of May 11, 2017.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
PERFORMANCE SHIPPING INC.
(registrant)
|
Dated: March 30, 2020
|
By:
|
/s/ Andreas Michalopoulos
|
|
|
|
Andreas Michalopoulos
|
|
|
|
Secretary
|
Exhibit 99.1
|
|
Corporate Contact:
|
|
|
Andreas Michalopoulos
|
|
|
Director, Deputy Chief Executive Officer,
|
|
|
Chief Financial Officer, Treasurer and Secretary
|
|
|
Telephone: +30-216-600-2400
|
|
|
Email: amichalopoulos@pshipping.com
|
|
|
Website: www.pshipping.com
|
|
For Immediate Release
|
|
|
|
Investor and Media Relations:
|
|
|
Edward Nebb
|
|
|
Comm-Counsellors, LLC
|
|
|
Telephone: + 1-203-972-8350
|
|
|
Email: enebb@optonline.net
|
PERFORMANCE SHIPPING INC. ANNOUNCES DELIVERY OF THE AFRAMAX TANKER VESSEL “P. KIKUMA”
ATHENS, GREECE, March 30, 2020 – Performance Shipping Inc. (NASDAQ: PSHG), (the “Company”), a global shipping company specializing in the ownership of vessels,
today announced that, through a separate wholly-owned subsidiary, it has taken delivery of the M/T P. Kikuma (formerly “FSL Shanghai”), a 2007-built
Aframax tanker of 115,915 dwt that the Company entered into an agreement to purchase in February 2020.
Commenting on the delivery, Mr. Andreas Michalopoulos, the Company’s Deputy Chief Executive Officer, stated:
“The Company is pleased to have taken delivery of the M/T P. Kikuma, its fourth Aframax tanker vessel, which marks an additional step in becoming a pure tanker
owning company. While we remain cautious given the unprecedented global circumstances, we are currently benefiting from the development of a robust tanker market supported by increased oil production and the oil price contango resulting in floating
storage for trading purposes and the replenishment of Refineries and Strategic reserves. As previously announced, our ticker symbol has changed to ‘PSHG’ effective today.”
A table describing the current Performance Shipping Inc. fleet can be found on the Company’s website, www.pshipping.com. Information included on the Company’s website does not constitute a part of this press release.
About the Company
Performance Shipping Inc. is a global provider of shipping transportation services through its ownership of vessels. The Company’s current fleet of vessels is
employed primarily on spot charters with leading charterers.
Cautionary Statement Regarding Forward-Looking Statements
Matters discussed in this press release may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor
protections for forward-looking statements in order to encourage companies to provide prospective information about their business. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or
performance, and underlying assumptions and other statements, which are other than statements of historical facts.
The Company desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary
statement in connection with this safe harbor legislation. The words "believe," "anticipate," "intends," "estimate," "forecast," "project," "plan," "potential," "may," "should," "expect," "pending" and similar expressions identify forward-looking
statements.
The forward-looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including
without limitation, our management's examination of historical operating trends, data contained in our records and other data available from third parties. Although we believe that these assumptions were reasonable when made, because these
assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond our control, we cannot assure you that we will achieve or accomplish these expectations, beliefs or
projections.
In addition to these important factors, other important factors that, in our view, could cause actual results to differ materially from those discussed in the
forward-looking statements include the strength of world economies and currencies, general market conditions, including fluctuations in charter rates and vessel values, changes in demand for our vessels, changes in our operating expenses, including
bunker prices, dry-docking and insurance costs, the market for our vessels, availability of financing and refinancing, changes in governmental rules and regulations or actions taken by regulatory authorities, potential liability from pending or
future litigation, general domestic and international political conditions, potential disruption of shipping routes due to accidents or political events, vessel breakdowns and instances of off-hires and other factors. Please see our filings with the
Securities and Exchange Commission for a more complete discussion of these and other risks and uncertainties.
