m/v Pucon.   Image by Performance Shipping Inc.

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

Athens, Greece - September 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 2006-built vessel “Pucon”, with delivery to the buyer latest by December 5, 2019, for a sale price of US$20.215 million before commissions.

Upon completion of the aforementioned sale and the previously announced sale of a Panamax container vessel, the m/v Pamina, Performance Shipping Inc.’s fleet will consist of 2 container vessels (1 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.

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