Performance Shipping Inc. is a global shipping company that owns and operates a fleet of tanker vessels for the transportation of crude oil, refined petroleum products, and other liquid cargoes. The company generates revenues through time charters (fixed-period contracts at agreed hire rates), spot charters (individual voyage contracts at specified freight rates), and pooling arrangements where the company earns a share of total revenues based on vessel performance. The company's customers consist of major oil companies, trading houses, and other charterers operating in international shipping markets worldwide.