OP CommonStock Quote
OceanPal Inc. (NASDAQ: OP) is a global provider
of shipping transportation services. We specialize in the ownership of vessels.
As of September 9, 2024, our fleet consists of 5
dry bulk vessels (3 Panamax and 2 Capesize), as well as 1 MR2 tanker vessel.
Our fleet benefits from the expertise of trusted
partners. Technical management is handled by Diana Wilhelmsen Management
Limited and Anglo-Eastern Shipmanagement (Singapore) Pte Ltd, ensuring the
highest standards of safety and efficiency. For commercial and administrative
services, we rely on the extensive experience of Steamship Shipbroking
Enterprises Inc. and Sea Transportation Inc. Additionally, our relationship
with Wilhelmsen Ship Management, through Diana Wilhelmsen Management Limited,
strengthens our operational capabilities.
We believe that we possess a number of strengths
that provide us with a competitive advantage in the shipping industry:
We own a high quality fleet of dry bulk carriers
and an MR2 tanker. 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 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 9, 2024 our fleet consists of five dry bulk carriers, of which three are Panamaxes and two are Capesize vessels and an MR2 tanker vessel.
