Business
OceanPal Inc. Reports Financial Results for the First Quarter Ended March 31, 2023
ATHENS, Greece, June 13, 2023 (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 13, 2023 (GLOBE NEWSWIRE) -- OceanPal Inc. (NASDAQ: OP) (the “Company”), a global shipping company specializing in the ownership of vessels, today reported net income of $88 thousand and net loss attributed to common stockholders of $472 thousand for the first quarter of 2023. Time charter revenues for the same period were $3.9 million. This compares to 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. Fleet Employment Profile (As of June 12, 2023) OceanPal Inc.’s fleet is employed as follows: VesselBUILT DWTSister Ships*Gross Rate (USD/Day)Com**CharterersDelivery Date to Charterers***Redelivery Date to Owners****Notes 3 Panamax Bulk Carriers1PROTEFSA$7,0005.00%GUO LONG XIANG LIMITED18-Dec-2224-Jan-23 2004 73,630$11,6405.00%LOUIS DREYFUS COMPANY FREIGHT ASIA PTE LTD24-Jan-2330-May-231 $7,0005.00%REFINED SUCCESS LIMITED30-May-2329-Jun-23 - 3-Aug-23 2CALIPSOA$15,2505.00%Al Ghurair Resources International LLC03-Nov-2225-Jan-23 2005 73,691$8,0005.00%NORVIC SHIPPING ASIA PTE. LTD.26-Jan-2302-Mar-232 $11,0005.00%LIANYI SHIPPING LIMITED26-Mar-2326-Apr-23 $11,0005.00%CAMBRIAN BULK LIMITED26-Apr-2307-Jun-23 $6,2505.00%ORIENTAL PAL SHIPPING PTE., LTD07-Jun-2307-Jul-23 - 12-Jul-2333MELIA $6,3005.00%GUO LONG XIANG LIMITED10-Feb-2318-Mar-23 2005 76,225 $13,8005.00%TRANSPOWER MARINE PTE. LTD.18-Mar-2309-Apr-23 $14,0005.00%LOUIS DREYFUS COMPANY FREIGHT ASIA PTE LTD09-Apr-2307-Aug-23 - 24-Oct-23 2 Capesize Bulk Carriers4SALT LAKE CITY $10,0005.00%Oldendorff GmbH & Co. KG20-Dec-2226-Feb-23 2005 171,810 $5,1005.00%RICHLAND BULK PTE. LTD.26-Feb-2324-Apr-23 $15,4005.00%PACBULK SHIPPING PTE. LTD.24-Apr-2323-Jun-23 - 29-Jul-23 5BALTIMORE $12,9005.00%Enesel Bulk Logistics DMCC03-Nov-2207-Feb-23 2005 177,243 $13,3005.00%Koch Shipping Pte. LTD., Singapore08-Feb-2308-Jul-23 - 23-Oct-23 * 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.*** In case of newly acquired vessel with new time charter attached, this date refers to the expected/actual date of delivery of the vessel to the Company.**** Range of redelivery dates, with the actual date of redelivery being at the Charterers’ option,...