OceanPal Inc. Reports Financial Results for the Second Quarter and Six Months Ended June 30, 2023

Athens, Greece - August 8, 2023



OceanPal Inc. (NASDAQ: OP) (the "Company"), a global shipping company specializing in the ownership of vessels, today reported net income of $1.26 million and net income attributed to common stockholders of $483 thousand for the second quarter of 2023.

Time charter revenues for the same period were $5.4 million. This compares to net income of $648 thousand and net income attributed to common stockholders of $157 thousand for the second quarter of 2022. Time charter revenues for the same period were $4.6 million.

Net income for the six months ended June 30, 2023, amounted to $1.35 million and net income attributed to common stockholders amounted to $24 thousand. Time charter revenues for the same period were $9.3 million. This compares to net income for the six months ended June 30, 2022 of $1.1 million and net loss attributed to common stockholders of $277 thousand. Time charter revenues for the same period were $8.2 million.

Full report

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