Business
OceanPal Inc. Reports Financial Results for the First Quarter Ended March 31, 2022; Declares a Cash Dividend of 1 Cent Per Share
ATHENS, Greece, June 03, 2022 (GLOBE NEWSWIRE) -- OceanPal Inc. (NASDAQ: OP) (the “Company”), a global shipping company specializing in the ownership of
About this update from Oceanpal Inc.
[{"type":"text","content":"ATHENS, Greece, June 03, 2022 (GLOBE NEWSWIRE) -- OceanPal Inc. (NASDAQ: OP) (the “Company”), a global shipping company specializing in the ownership of vessels, today reported net income of $414 thousand and net loss attributed to common stockholders of $510 thousand for the first quarter of 2022. Time charter revenues for the same period were $3.7 million. Dividend Declaration The Company declared a cash dividend on its common stock of $0.01 per share for the first quarter ended March 31, 2022. The cash dividend will be payable on or about June 21, 2022 to all common shareholders of record as of June 14, 2022. The Company has 29.83 million shares of common stock issued and outstanding. Holders of the Company’s Class A Warrants as of June 14, 2022 will also receive a cash payment in the amount of $0.01 for each common share that such holder would be entitled to receive upon exercise of their Class A Warrants. As of June 02, 2022, there are Class A Warrants exercisable for an aggregate of 14.47 million common shares. Fleet Employment Profile (As of June 03, 2022) OceanPal Inc.’s fleet is employed as follows: VesselSisterShips*Gross Rate(USD Per Day)Com**CharterersDelivery Dateto Charterers***Redelivery Dateto Owners****Notes BUILT DWT 2 Panamax Bulk Carriers1PROTEFSA$10,6505.00%Reachy International (HK) Co., Limited08-Feb-2104-Jun-221,2 2004 73,630 2CALIPSO2005 73,691A$17,1005.00%Contango Shipping Pte Ltd.28-Dec-2121-Jan-22 $13,8505.00%Hengdeli Deyesion International Shipping Limited24-Jan-2216-Feb-22 $17,8505.00%Atlantic Coal And Bulk Pte. Ltd.18-Feb-2210-Mar-2022 $24,5005.00%Tongli Shipping Pte. Ltd.10-Mar-202210-Jun-22 - 05-Jul-221 1 Capesize Bulk Carrier3SALT LAKE CITY $13,0005.00%C Transport Maritime Ltd., Bermuda09-Jan-215-Jun-2022 – 12-Jun-20221 2005 171,810 * Each dry bulk carrier is a \"sister ship\", or closely similar, to other dry bulk carriers that have the same letter.** Total commission percentage paid to third parties.*** The vessels were contributed to the Company following a spin-off transaction effected on November 29, 2021.**** Range of redelivery dates, with the actual date of redelivery being at the Charterers' option, but subject to the terms, conditions, and exceptions of the particular charterparty.1 Based on latest information.2 Charterers have agreed to compensate the owners for all the days over and a...