Business
OceanPal Inc. Reports Financial Results for the Fourth Quarter and Year Ended December 31, 2024
ATHENS, Greece, April 09, 2025 (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 09, 2025 (GLOBE NEWSWIRE) -- OceanPal Inc. (NASDAQ: OP) (the “Company”), a global shipping company specializing in the ownership of vessels, today reported vessel revenues of $5.8 million, a net loss of $8.2 million and net loss attributed to common stockholders of $8.8 million for the fourth quarter of 2024. This compares to vessel revenues of $5.8 million, a net income of $58 thousand and net loss attributed to common stockholders of $2.8 million for the fourth quarter of 2023. For the year ended December 31, 2024, the Company reported vessel revenues of $25.7 million, a net loss of $17.9 million and net loss attributed to common stockholders of $19.7 million. This compares to vessel revenues of $19.0 million, a net loss of $2.0 million and net loss attributed to common stockholders of $6.7 million for the year ended December 31, 2023. Fleet Employment Profile (As of April 9, 2025) OceanPal Inc.’s fleet is employed as follows: Dry Bulk VesselsGross Rate (USD/Day)Com*CharterersDelivery Date to Charterers**Redelivery Date to Owners***Notes BUILT DWT 3 Panamax Bulk Carriers 1PROTEFS$9,4005.00% JOINT VISION SHIPPING CO., LIMITED12-Sep-2403-Oct-24 2004 73,630$11,7505.00% ORIENTAL PAL SHIPPING PTE. LTD.03-Oct-2421-Oct-24 $10,0005.00% 21-Oct-2415-Nov-24 $9,0005.00% PASSSPARTOUT SHIPPING LIMED15-Nov-2413-Dec-24 $4,1505.00% TONGLI SHIPPING PTE. LTD.13-Dec-2406-Jan-25 $1,7505.00% 06-Jan-2524-Jan-25 $4,2505.00% PASSSPARTOUT SHIPPING LIMITED30-Jan-2515-Feb-25 $3,2005.00% FULLINKS MARINE COMPANY LIMITED15-Feb-2516-Mar-25 $6,2505.00% ITG SHIPPING PTE. LTD.16-Mar-2508-Apr-25 $8,5005.00% TONGLI SHIPPING PTE. LTD.08-Apr-2528-Apr-2512CALIPSO$10,1505.00% ASL BULK SHIPPING LIMITED03-Sep-2408-Jan-25 2005 73,691$2,8504.75% CARGILL INTERNATIONAL S.A.08-Jan-2519-Mar-25 $9,0005.00% FULLINKS MARINE COMPANY LIMITED19-Mar-2512-Apr-2523MELIA$11,7505.00% CHINA RESOURCE CHARTERING LIMITED04-Aug-2407-Dec-243 2005 76,225$7,1005.00% CHINA RESOURCE CHARTERING LIMITED09-Jan-2525-May-25 - 24-Aug-254 2 Capesize Bulk Carriers 4SALT LAKE CITY$26,8505.00% RICHLAND BULK PTE. LTD. 21-Sep-2406-Nov-24 2005 171,810$15,6005.00% 06-Nov-2419-Dec-24 $6,0005.00% DEYESION SHIPPING & TRADING COMPANY LIMITED19-Dec-2430-Jan-2555BALTIMORE$22,0005.00% RICHLAND BULK PTE. LTD.09-May-2418-Nov-246 2005 177,243 Tanker VesselEmploymentCom*CharterersDelivery Date to C...