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OceanPal Inc. Reports Financial Results For The Second Quarter And Six Months Ended June 30, 2024
ATHENS, Greece, Aug. 07, 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, Aug. 07, 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 $6.7 million, a net loss of $8.2 million and net loss attributed to common stockholders of $8.6 million for the second quarter of 2024. This compares to time charter revenues of $5.4 million, a net income of $1.3 million and net income attributed to common stockholders of $483 thousand for the second quarter of 2023. For the six months ended June 30, 2024, the Company reported time charter revenues of $12.4 million, a net loss of $9.5 million and net loss attributed to common stockholders of $10.3 million. This compares to time charter revenues of $9.3 million, a net income of $1.3 million and net income attributed to common stockholders of $24 thousand for the six months ended June 30, 2023. Fleet Employment Profile (As of August 7, 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 2004 73,630 $13,0005.00%CHINA RESOURCE CHARTERING LIMITED14-Apr-2414-Jul-24 $8,6005.00%BG SHIPPING (SINGAPORE) PTE. LTD.14-Jul-2414-Aug-2422CALIPSO 2005 73,691 A$13,2505.00%COFCO INTERNATIONAL FREIGHT SA06-Apr-2403-Aug-2433MELIA $15,2505.00%OLDENDORFF CARRIERS GMBH & CO. KG01-May-2404-Aug-24 2005 76,225 $11,7505.00%CHINA RESOURCE CHARTERING LIMITED04-Aug-2412-Nov-244 2 Capesize Bulk Carriers 4SALT LAKE CITY $15,1505.00%DEYESION SHIPPING & TRADING COMPANY LIMITED06-Feb-2401-Jun-24 2005 171,810 $23,0005.00%01-Jun-2427-Jul-24 $19,0005.00%27-Jul-2405-Sep-2455BALTIMORE $13,5005.00%RICHLAND BULK PTE. LTD.18-Nov-2302-May-246 2005 177,243 $22,0005.00%09-May-2415-Sep-24 – 15-Nov-247 1 MR2 Tanker6ZEZE START 2009 49,999 -- ---8 *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 Charte...