Performance Shipping Inc. (NASDAQ: PSHG) (“we” or the “Company”), a global shipping company specializing in the ownership of tanker vessels, announced that, through a separate wholly-owned subsidiary, it has taken delivery of the M/T P. Bel Air (formerly “Eco Bel Air”), a 2019-built Suezmax tanker of 157,286 dwt that the Company entered into an agreement to purchase in October 2025.

As previously announced, the M/T P. Bel Air is the first of two 2019-built Suezmax tankers to be delivered to the Company, with the sister vessel expected to be delivered by the end of December. With this delivery, the Company’s fleet consists of a total of twelve (12) tanker vessels, including two newbuild tankers under construction, with nine currently operating on the water.

Commenting on this delivery, Andreas Michalopoulos, the Company’s Chief Executive Officer, stated: “We are pleased to take delivery of our first Suezmax tanker earlier than initially expected, reflecting significant steps in the Company’s expansion. The vessel will immediately commence its previously-announced three-year time charter with Repsol Trading S.A. at a rate of US$36,500 per day, representing both a solid commercial achievement and our first partnership with this highly reputable charterer. Looking ahead, we expect to take delivery of our second Suezmax tanker by year-end, completing the early integration of our modern, eco-design and fuel efficient Suezmax fleet, further strengthening our operational capabilities and enhancing our long-term earnings visibility.”

Performance Shipping Inc. press release