OceanPal Inc. (NASDAQ: OP) is a global provider of shipping transportation services. We specialize in the ownership of vessels.
As of September 22, 2023 our fleet consists of 5 dry bulk vessels (3 Panamax and 2 Capesize).
Our fleet is managed by both Diana Wilhelmsen Management Limited and Steamship Shipbroking Enterprises Inc.
We believe that we possess a number of strengths that provide us with a competitive advantage in the dry bulk shipping industry:
We own a high quality fleet of dry bulk carriers. We believe that owning a high quality fleet reduces operating costs, improves safety and provides us with a competitive advantage in securing favorable charters.
We maintain the quality of our vessels by carrying out regular inspections, both while in port and at sea, and adopting a comprehensive maintenance program for each vessel.
We have an experienced management team. Our management team consists of experienced executives who have, on average, more than 20 years of operating experience in the shipping industry and has demonstrated ability in managing the commercial, technical and financial areas of our business.
We benefit from the relationship with Wilhelmsen Ship Management through Diana Wilhelmsen Management Limited.
We benefit from strong relationships with members of the shipping and financial industries. We have developed strong relationships with major international charterers, shipbuilders and financial institutions that we believe are the result of the quality of our operations, the strength of our management team and our reputation for dependability.
We have a strong balance sheet and no current indebtedness. We believe that our strong balance sheet and no current indebtedness enable us to use cash flow that would otherwise be dedicated to debt service for fleet growth and other purposes.
The Board of Directors of OceanPal Inc. (the “Company”) has adopted this Code of Ethics (the “Code”) for all of the Company’s employees, directors, officers and agents (“Employees”). All Employees are required to be familiar with the Code, comply with its provisions and report any suspected violations as described below in the section entitled “Internal Reporting”.
Our Board of Directors consists of 7 members and will be elected annually on a staggered basis.
As of September 22, 2023 our fleet consists of five dry bulk carriers, of which three are Panamaxes and two are Capesize vessels.