The origins of the predecessors of Unitized Ocean Transport Limited, or UOT, in ship management go back even before 1907 where a company was created, which eventually controlled nearly the entire fleet of Greek passenger ships that connected the Greek islands with the mainland.
In 1972, Simeon Palios set up a group of companies concentrated on the management of various types of dry cargo and refrigerated vessels for principals associated with the group as well as for third parties.
In 1986, Diana Shipping Services S.A., or DSS, was formed and until the mid-1990's the company focused on managing second hand ships. In 1996, it turned also to newbuilds and since then has managed several bulk carriers and containerships from Polish, South Korean and Chinese shipyards.
From the founding of Performance Shipping Inc., the commercial and technical management of its fleet was carried out by DSS. In November 2012, UOT was formed as a wholly owned subsidiary of Performance Shipping Inc. UOT at that time was able to employ substantially all the containership-related employees of DSS.
As of March 1, 2013, the responsibility for the commercial and technical management of the fleet owned by Performance Shipping Inc. was assumed by UOT.