UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR

15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of November 2022

Commission File Number: 001-35025

PERFORMANCE SHIPPING INC.

(Translation of registrant’s name into English)

373 Syngrou Avenue

175 64 Palaio Faliro

Athens, Greece

(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F     ☒          Form 40-F     ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):  _______

Note: Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):  _______

Note: Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submitted to furnish a report or other document that the registrant foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant's "home country"), or under the rules of the home country exchange on which the registrant's securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant's security holders, and, if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR.

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INFORMATION CONTAINED IN THIS FORM 6-K REPORT

Attached to this Report on Form 6-K as Exhibit 99.1 is a copy of the press release of Performance Shipping Inc. (the “Company”) dated November 1, 2022 titled “Performance Shipping Inc. Announces New Loan Facility with Alpha Bank S.A. to Partially Finance the Acquisition of Seventh Vessel.”

The secured term loan facility of up to approximately US$18,250,000 with Alpha Bank S.A. (the “Facility”) was entered into through a separate wholly owned subsidiary of the Company. Proceeds from the Facility will be used to partially finance up to 50% of the purchase price of the previously announced acquisition of the Company’s seventh tanker vessel, and its first LR2, to be renamed M/T P. Aliki.

The Facility will be repayable in twenty consecutive quarterly installments of US$500,000 each, and a balloon installment of US$8,250,000 payable concurrent with the twentieth quarterly installment.  The Facility will carry an interest rate of SOFR plus 2.60% per annum. The Facility will be secured by, among other things, a guarantee of the Company and a first priority mortgage over the M/T P. Aliki.

The information contained in this Report on Form 6-K is hereby incorporated by reference into the Company's registration statement on Form F-3 (File No. 333-197740), filed with the U.S. Securities and Exchange Commission (the “SEC”) with an effective date of August 13, 2014, and the Company’s registration statement on Form F-3 (File No. 333-237637), filed with the SEC with an effective date of April 23, 2020.