Business
OceanPal Inc. Reports Financial Results for the Year Ended December 31, 2025, and Introduces 2026 Guidance
ATHENS, Greece, March 26, 2026 /PRNewswire/ -- OceanPal Inc. (NASDAQ: SVRN) (the "Company" or "OP"), a global shipping company and digital asset treasury
About this update from Oceanpal Inc.
[{"type":"text","content":"ATHENS, Greece, March 26, 2026 /PRNewswire/ -- OceanPal Inc. (NASDAQ: SVRN) (the \"Company\" or \"OP\"), a global shipping company and digital asset treasury operator, today announced its financial results for the fiscal year ended December 31, 2025, alongside financial guidance for the fiscal year 2026. 2025 represented a defining milestone in the Company's evolution. During the year, OceanPal established SovereignAI Services LLC, a wholly-owned subsidiary through which the Company became the first publicly traded corporate treasury vehicle with exposure to NEAR Protocol. Since launching its new business, OceanPal has welcomed Richard Muirhead, Peter Marton, and James Gereghty to its board of directors, each contributing specialized knowledge in digital assets and regulatory affairs to bolster the Company's governance framework and oversight of its digital asset activities, which, coupled with the four remaining OceanPal directors, gives the Company a good balance of shipping and crypto expertise.\n2025 Financial Highlights($ in Millions USD)2025 (unaudited)2024ChangeVessel Revenues$13.4$25.7$(12.3)Staking Reward Income¹$0.7—N/ATotal Revenue and Other Income$14.1$25.7$(11.6)Operating Loss$(31.4)$(18.0)$(13.4)Net Loss$(65.2)$(17.9)$(47.3)Net Loss attributable to Common Stockholders$(70.0)$(19.7)$(50.3)AVERAGE DAILY RESULTS (in USD)Time charter equivalent (TCE) rate2$9,123$12,184$(3,061)Daily vessel operating expenses3$5,987$6,568$(581) Balance Sheet Highlights($ in Millions USD)Dec 31, 2025 (unaudited)Dec 31, 2024ChangeCash and Cash Equivalents$33.2$7.2+$26.0Digital Assets at Fair Value$77.5—N/AVessels, net$40.8$71.3$(30.5)Total Assets$165.5$89.5+$76.0Total Liabilities$8.9$5.1+$3.8Total Stockholders' Equity$156.6$84.4+$72.2(See financial tables attached) 2026 Financial Guidance($ in Millions USD, except for NEAR's token price)SHIPPING SEGMENTVessel Revenue8$13.0 - $14.0Shipping Operating Costs9$(11.5) - $(12.5)Shipping EBITDA$1.5 - $2.5SOVEREIGNAI SEGMENTCurrent Spot52025 Avg. Price62025 High Price7NEAR Price Assumption$1.30$2.73$6.23Staking Revenue10$3.6$7.6$17.1SovereignAI Opex11$(3.1)$(3.1)$(3.1)SovereignAI EBITDA$0.5$4.5$14.0CONSOLIDATED$1.30 NEAR$2.73 NEAR$6.23 NEARTotal Revenue$16.6 - $17.6$20.5 - $21.5$30.1 - $31.1Corporate G&A12$(2.1)$(2.1)$(2.1)Adjusted EBITDA4$(1.1) - $0.9$2.9 - $4.9$12.4 - $14.4Key Fundamentals:Total ...