Strong profitability in 2025 for Performance Shipping – net income $50m

Greek tanker owner Performance Shipping, led-by chairperson of its board Aliki Paliou, reported net income of $7.6m for the fourth quarter of 2025, compared to a net income of $9.7m for the same period in 2024.

The company’s revenue stood at $26.2m for the fourth quarter of 2025, compared to $21.7m for the same period in 2024. The shipowner explains that this increase was mainly attributable to the increase in ownership days following the delivery of the newbuilding vessels P. Massport and P. Tokyo in July and September 2025, respectively.

Fleetwide, the average time charter equivalent (TCE) rate for the fourth quarter of 2025 was $32,221, compared with an average rate of $32,652 for the same period in 2024.

The net income for the year ended December 31, 2025, amounted to $50m, compared to a net income of $43.7m for the year ended December 31, 2024.

Commenting on the results of the fourth quarter of 2025, Andreas Michalopoulos, Performance Shipping chief executive officer, stated:

“Fiscal year 2025 represented another solid year for our company. We generated revenues of $84.2 million, with a daily time