ATHENS, GREECE, February 2, 2023 – OceanPal Inc. (NASDAQ: OP) (the “Company”), a global shipping company specializing in the ownership of vessels, today announced that it has appointed Robert Perri as the Company’s new Chief Executive Officer, effective as of February 2, 2023. Mr. Perri replaces Mr. Eleftherios Papatrifon, who has served as the Company’s Chief Executive Officer since November 2021 and who will continue to serve as a Class II director.
Mr. Perri has over fifteen years of shipping company experience, including five years as the Chief Financial Officer of two US-listed companies, and five years as the Chief Financial Officer of a private shipping company. In addition, Mr. Perri spent ten years in equity research for several investment banks covering various industries including shipping, technology and IT services. Mr. Perri received his Bachelor of Science degree in Accounting and Finance from Drexel University in 1995 and received his MBA with a focus on finance and banking from SDA Bocconi in 1999. He is also a member of the Chartered Financial Analyst (CFA) Institute and a CFA charterholder.
Mr. Perri stated: “I am excited to be joining OceanPal Inc. and believe the Company is well positioned for continued growth in the shipping sector during an opportune time in the cycle. I look forward to working with our strong team of dedicated professionals to execute on our business strategy.”
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.
Forward Looking Statements
Matters discussed in this press release may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements.
The Company desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. The words “believe,” “anticipate,” “intends,” “estimate,” “forecast,” “project,” “plan,” “potential,” “may,” “should,” “expect,” “pending” and similar expressions identify forward-looking statements.
The forward-looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, Company management’s examination of historical operating trends, data contained in the Company’s records and other data available from third parties. Although the Company believes that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies that are difficult or impossible to predict and are beyond the Company’s control, the Company cannot assure you that it will achieve or accomplish these expectations, beliefs or projections.
In
addition to these important factors, other important factors that, in the
Company’s view, could cause actual results to differ materially from those
discussed in the forward-looking statements include the severity, magnitude and
duration of the COVID-19 pandemic, including impacts of the pandemic and of
businesses’ and governments’ responses to the pandemic on our operations,
personnel, and on the demand for seaborne transportation of bulk products; the
strength of world economies and currencies, general market conditions,
including fluctuations in charter rates and vessel values, changes in demand
for dry bulk shipping capacity, changes in the Company’s operating expenses,
including bunker prices, drydocking and insurance costs, the market for the
Company’s vessels, availability of financing and refinancing, changes in governmental
rules and regulations or actions taken by regulatory authorities, potential
liability from pending or future litigation, general domestic and international
political conditions, including risks associated with the continuing conflict
between Russia and Ukraine and related sanctions, potential disruption of
shipping routes due to accidents or political events, vessel breakdowns and
instances of off-hires and other factors. Please see the Company’s filings with
the U.S. Securities and Exchange Commission for a more complete discussion of
these and other risks and uncertainties. The Company undertakes no obligation
to revise or update any forward-looking statement, or to make any other
forward-looking statements, whether as a result of new information, future
events or otherwise.
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