m/v Pamina. Image by Performance Shipping Inc.

Performance Shipping Inc. Announces the Sale of a Panamax Container Vessel, the m/v Pamina

Athens, Greece - August 27, 2019

Performance Shipping Inc. (NASDAQ: DCIX), (the “Company”), a global shipping company specializing in the ownership of vessels, today announced that it has signed, through a separate wholly-owned subsidiary, a Memorandum of Agreement to sell to an unaffiliated third party the 2005-built vessel “Pamina”, with delivery to the buyer latest by November 15, 2019, for a sale price of US$9.125 million before commissions.

Upon completion of the aforementioned sale, Performance Shipping Inc.’s fleet will consist of 3 container vessels (2 Post-Panamax and 1 Panamax) and one Aframax tanker vessel. The Company also expects to take delivery of one Aframax tanker vessel by the beginning of November 2019. 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 are employed primarily on time charters with leading charterers.

Performance Shipping Inc. press release