The “Salt Lake City” is a 171,810 dwt Capesize dry bulk vessel built in 2005.
The employment of “Salt Lake City” is anticipated to generate approximately US$1.52 million of gross revenue for the minimum scheduled period of the time charter.
OceanPal Inc.’s fleet currently consists of 5 dry bulk vessels (2 Capesize and 3 Panamax). A table describing the current OceanPal Inc. fleet can be found on the Company’s website, www.oceanpal.com. Information contained on the Company’s website does not constitute a part of this press release.
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 continuing impacts of
the COVID-19 pandemic; 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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