Performance Shipping Inc. Announces Signing of Refinancing Agreement With Alpha Bank S.A.

ATHENS, Greece, July 24, 2025 (GLOBE NEWSWIRE) -- Performance Shipping Inc. (NASDAQ:PSHG), ("we" or the "Company"), a global shipping company specializing in the ownership of tanker vessels, today announced that it has signed an agreement for the refinancing of its existing loan facility with Alpha Bank S.A. (the "Facility") through two separate wholly-owned subsidiaries of the Company. This facility refinances the full outstanding loan balance of US$29,750,000 previously secured by the M/T P. Long Beach and the M/T P. Aliki. This agreement follows the acceptance of a commitment letter from Alpha Bank, as previously announced on June 24, 2025.

The Facility bears interest at the rate of SOFR plus 1.90% per annum and will be repayable in twenty (20) consecutive quarterly installments of US$1,050,000 each, with a balloon payment of US$8,750,000 payable concurrent with the twentieth quarterly installment in mid-2030.

About the Company

Performance Shipping Inc. is a global provider of shipping transportation services through its ownership of tanker vessels. The Company employs its fleet on spot voyages, through pool arrangements and on time charters.

Cautionary Statement Regarding Forward-Looking Statements

Matters discussed in this press release may constitute forward-looking statements. The Private Securities Litigation Reform ...