Business
OceanPal inc. Reports Financial Results for the Third Quarter and Nine Months Ended September 30, 2023
ATHENS, Greece, Dec. 06, 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, Dec. 06, 2023 (GLOBE NEWSWIRE) -- OceanPal Inc. (NASDAQ: OP) (the “Company”), a global shipping company specializing in the ownership of vessels, today reported a net loss of $3.4 million and a net loss attributed to common stockholders of $3.9 million for the third quarter of 2023. Time charter revenues for the same period were $3.9 million. This compares to net income of $1.1 million and net income attributed to common stockholders of $403 thousand for the third quarter of 2022. Time charter revenues for the same period were $5.1 million. Net loss for the nine months ended September 30, 2023, amounted to $2.0 million and net loss attributed to common stockholders amounted to $3.9 million. Time charter revenues for the same period were $13.1 million. This compares to net income for the nine months ended September 30, 2022, of $2.2 million and net income attributed to common stockholders of $216 thousand. Time charter revenues for the same period were $13.4 million. Fleet Employment Profile (As of December 4, 2023) OceanPal Inc.’s fleet is employed as follows: VesselSisterShips*Gross Rate(USD/Day)Com**CharterersDelivery Date toCharterers***Redelivery Date toOwners****Notes BUILTDWT 3 Panamax Bulk Carriers1PROTEFSA$7,0005.00%REFINED SUCCESS LIMITED30-May-2329-Jul-23 200473,630$3,0005.00%CHINALAND SHIPPING PTE. LTD.01-Aug-2312-Sep-23 $10,5005.00%LOUIS DREYFUS COMPANY FREIGHT ASIA PTE LTD12-Sep-2310-Jan-24 – 25-Mar-24 2CALIPSO A$6,2505.00%ORIENTAL PAL SHIPPING PTE., LTD07-Jun-2314-Jul-23 200573,691$6,3005.00%GUO LONG XIANG LIMITED14-Jul-2313-Aug-23 $6,0005.00%13-Aug-2328-Sep-23 $11,0005.00%Oldendorff Carriers Denmark ApS28-Sep-2305-Nov-23 $10,2505.00%COFCO INTERNATIONAL FREIGHT(S) PTE. LTD.05-Nov-2303-Feb-202413MELIA $14,0005.00%LOUIS DREYFUS COMPANY FREIGHT ASIA PTE LTD09-Apr-2326-Aug-23 200576,225 $6,2505.00%ASL BULK SHIPPING LIMITED26-Aug-2309-Nov-23 $9,5005.00%FORTUNE OCEAN MARINE PTE. LTD.09-Nov-2312-Dec-232 2 Capesize Bulk Carriers4SALT LAKE CITY $15,4005.00%PACBULK SHIPPING PTE. LTD.24-Apr-2326-Jul-233 2005171,810 $14,5005.00%FIVE OCEAN CORPORATION26-Sep-2309-Jan-24 – 8-Apr-24 5BALTIMORE $13,3005.00%Koch Shipping Pte. Ltd., Singapore08-Feb-2327-Sep-23 2005177,243 $20,0005.00%Richland Bulk Pte. Ltd.27-Sep-2318-Nov-23 $13,50018-Nov-2315-Mar-24 – 20-May/24 * Each dry bulk carrier is a \"sister ship\", or closely...