Performance Shipping (PSHG)

Entity not really on my radar. Company is affiliated with the Paliou family & Diana Shipping (DSX). Owned shares a long time ago, when it was spun-out of DSX, and at the time, was focused on container vessels. PSHG now focuses on the tanker market.

PSHG owns and operates 7 Aframax/LR2 vessels and has newbuild orders for 3 LR2 tankers.

What’s the catch with PSHG?
Probably the overhang of the two flavors of preferred shares (Slide 16). Further down the road will likely be financing for the newbuilds. But the latter can likely be addressed with sales of existing assets (3 vessels currently unencumbered)