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Stock impact report

Oceanpal Inc. Announces Time Charter Contract for M/V Baltimore With Richland Bulk and the Sale of M/V Baltimore

OceanPal Inc. (OP) 
Company Research Source: GlobeNewswire
ATHENS, Greece, April 30, 2024 (GLOBE NEWSWIRE) -- OceanPal Inc. (NASDAQ: OP) (the “Company”), a global shipping company specializing in the ownership of vessels, today announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Richland Bulk Pte. Ltd., for its Capesize dry bulk vessel, the m/v Baltimore. The gross charter rate is US$22,000 per day minus a 5% commission paid to third parties, for a period until minimum September 15, 2024 up to maximum November 15, 2024. The charter is expected to commence in mid-May. The m/v Baltimore is currently chartered to Richland Bulk Pte. Ltd., at a gross charter rate of US$13,500 per day, minus a 5% commission paid to third parties. The “Baltimore” is a 177,243 dwt Capesize dry bulk vessel built in 2005. The employment of “Baltimore” is anticipated to generate approximately US$2.64 million of gross revenue for the scheduled period of the time charter. The Company also announced that i Show less Read more
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