Performance Shipping highlights $535 million secured revenue backlog in investor presentation
PSHG•Performance Shipping reported $535 million in secured charter revenue as of June 30, 2026, with 3.4 years of average remaining employment. Remaining newbuilding capital expenditures totaled $175.3 million, and committed financing totaled $172.4 million for four of six newbuilds.
1. Backlog and coverage
Performance Shipping reported $535 million in secured charter revenue as of June 30, 2026, with 3.4 years of average remaining employment. Fixed charter coverage is approximately 100% for the remaining six months of 2026 and full-year 2027, falling to approximately 90% in 2028.
2. Newbuild funding and deliveries
Remaining newbuilding capital expenditures totaled $175.3 million, covered approximately 3.1 times by secured revenue. Committed financing totals $172.4 million for four of six newbuilds; financing for two Suezmax tankers remains to be arranged. The remaining LR1 tanker is scheduled for delivery in January 2027, followed by Suezmax deliveries in October 2028 and May 2029.
