On March 2, 2026, Performance Shipping Inc. entered into two shipbuilding contracts with China Shipbuilding Trading Co. Ltd. and Shanghai Waigaoqiao Shipbuilding Co. Ltd. The agreements are for the construction of two 158,000 DWT Suezmax tanker vessels, with delivery scheduled for October 2028 and May 2029. Each vessel is priced at US$81.5 million, with staggered payments based on project milestones.