Performance Shipping Inc. Announces the Sale of a Panamax Container Vessel, the M/V Pamina
August 27 2019 - 8:49AM
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.
Cautionary Statement Regarding
Forward-Looking Statements
Matters discussed in this press release may
constitute forward-looking statements. The Private Securities
Litigation Reform Act of 1995 provides safe harbor protections for
forward-looking statements in order to encourage companies to
provide prospective information about their business.
Forward-looking statements include statements concerning plans,
objectives, goals, strategies, future events or performance, and
underlying assumptions and other statements, which are other than
statements of historical facts. The Company desires to take
advantage of the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995 and is including this cautionary
statement in connection with this safe harbor legislation. The
words "believe," "anticipate," "intends," "estimate," "forecast,"
"project," "plan," "potential," "may," "should," "expect,"
"pending" and similar expressions identify forward-looking
statements. The forward-looking statements in this press release
are based upon various assumptions, many of which are based, in
turn, upon further assumptions, including without limitation, our
management's examination of historical operating trends, data
contained in our records and other data available from third
parties. Although we believe that these assumptions were reasonable
when made, because these assumptions are inherently subject to
significant uncertainties and contingencies which are difficult or
impossible to predict and are beyond our control, we cannot assure
you that we will achieve or accomplish these expectations, beliefs
or projections. In addition to these important factors, other
important factors that, in our view, could cause actual results to
differ materially from those discussed in the forward-looking
statements include the strength of world economies and currencies,
general market conditions, including fluctuations in charter rates
and vessel values, changes in demand for containership capacity,
changes in our operating expenses, including bunker prices,
drydocking and insurance costs, the market for our vessels,
availability of financing and refinancing, changes in governmental
rules and regulations or actions taken by regulatory authorities,
potential liability from pending or future litigation, general
domestic and international political conditions, potential
disruption of shipping routes due to accidents or political events,
vessel breakdowns and instances of off-hires and other factors.
Please see our filings with the Securities and Exchange Commission
for a more complete discussion of these and other risks and
uncertainties.
Corporate Contact:
Ioannis Zafirakis
Director, Chief Strategy Officer and Secretary
Telephone: +30-216-600-2400
Email: izafirakis@pshipping.com
Website: www.pshipping.com
Investor and Media Relations:
Edward Nebb
Comm-Counsellors, LLC
Telephone: + 1-203-972-8350
Email: enebb@optonline.net
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