OceanPal Inc. Announces Delivery of the Panamax Dry Bulk Vessel m/v Melia

Athens, Greece - February 9, 2023

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 taken delivery of the m/v Melia, a 2005 built Panamax dry bulk vessel of 76,225 dwt that the Company entered into an agreement to purchase in early February 2023.

OceanPal Inc.'s fleet currently consists of 5 dry bulk vessels (2 Capesize and 3 Panamax). A table describing the current OceanPal Inc. fleet can be found on the Company's website, www.oceanpal.com.

Information contained on the Company's website does not constitute a part of this press release.

About the Company
OceanPal Inc. is a global provider of shipping transportation services through its ownership of vessels.

The Company's vessels currently transport a range of dry bulk cargoes, including such commodities as iron ore, coal, grain and other materials along worldwide shipping routes and it is expected that the Company's vessels will be primarily employed on short term time and voyage charters following the completion of their current employments.

OceanPal Inc. press release