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OceanPal Inc ( (OP) ) has issued an announcement.
On January 21, 2025, OceanPal Inc. announced the signing of a Memorandum of Agreement to sell the 2005-built vessel ‘Salt Lake City’ through a wholly-owned subsidiary for $16.1 million before commissions, with delivery to the buyer by February 20, 2025. Upon completion of this sale, OceanPal’s fleet will consist of three Panamax dry bulk vessels and one MR2 tanker, which may impact the company’s operational capacity and market positioning.
More about OceanPal Inc
OceanPal Inc. is a global shipping company specializing in the ownership and operation of dry bulk vessels and product tankers. The company provides seaborne transportation services for bulk commodities such as iron ore, coal, and grain, as well as refined petroleum products. OceanPal’s fleet primarily operates on time charter trips with short to medium durations and spot charters, focusing on maximizing long-term shareholder value.
YTD Price Performance: -1.61%
Average Trading Volume: 18,208
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $9.09M
For a thorough assessment of OP stock, go to TipRanks’ Stock Analysis page.
