Business
OceanPal Inc. Reports Financial Results for the Fourth Quarter and Year Ended December 31, 2023
ATHENS, Greece, April 11, 2024 (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, April 11, 2024 (GLOBE NEWSWIRE) -- OceanPal Inc. (NASDAQ: OP) (the “Company”), a global shipping company specializing in the ownership of vessels, today reported time charter revenues of $5.8 million, net income of $58 thousand and a net loss attributed to common stockholders of $2.8 million for the fourth quarter of 2023. This compares to time charter revenues of $5.7 million, a net loss of $2.5 million and net loss attributed to common stockholders of $3.0 million for the fourth quarter of 2022. For the year ended December 31, 2023, the Company reported time charter revenues of $19.0 million, a net loss of $2.0 million and a net loss attributed to common stockholders of $6.7 million. This compares to time charter revenues of $19.1 million, net loss for the year ended December 31, 2022, of $326 thousand, and net loss attributed to common stockholders of $2.7 million. Fleet Employment Profile (As of April 10, 2024) OceanPal Inc.’s fleet is employed as follows: VesselSister Ships*Gross Rate (USD/Day)Com**CharterersDelivery Date to Charterers***Redelivery Date to Owners****Notes BUILT DWT 3 Panamax Bulk Carriers 1PROTEFSA$10,5005.00%LOUIS DREYFUS COMPANY FREIGHT ASIA PTE LTD12-Sep-2309-Apr-241,2 2004 73,630 $13,0005.00%CHINA RESOURCE CHARTERTING LIMITED14-Apr-2413-Jul-243,42CALIPSOA$11,0005.00%OLDENDORFF CARRIERS DENMARK APS28-Sep-2305-Nov-23 2005 73,691$10,2505.00%COFCO INTERNATIONAL FREIGHT(S) PTE. LTD.05-Nov-2324-Feb-2024 $12,5005.00%HMM CO., LTD.24-Feb-202428-Mar-2024 $13,2505.00%COFCO INTERNATIONAL FREIGHT SA06-Apr-202405-Jul-2024 3MELIA $6,2505.00%ASL BULK SHIPPING LIMITED26-Aug-2309-Nov-23 2005 76,225 $9,5005.00%FORTUNE OCEAN MARINE PTE. LTD.09-Nov-2312-Dec-23 $11,8505.00%LOUIS DREYFUS COMPANY FREIGHT ASIA PTE LTD12-Dec-2306-Feb-2024 $12,1005.00%ASL BULK SHIPPING LIMITED06-Feb-2425-Apr-245,6 2 Capesize Bulk Carriers 4SALT LAKE CITY $14,5005.00%FIVE OCEAN CORPORATION26-Sep-2306-Feb-2024 2005 171,810 $15,1505.00%DEYESION SHIPPING & TRADING COMPANY LIMITED06-Feb-202405-May-24 – 05-Jul-24 5BALTIMORE $20,0005.00%RICHLAND BULK PTE. LTD.27-Sep-2318-Nov-23 2005 177,243 $13,5005.00%RICHLAND BULK PTE. LTD.18-Nov-2320-Apr-24 – 15-May-247 * 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 ...