Oceanpal Inc. Announces Time Charter Contract for M/V Baltimore With Richland Bulk and the Sale of M/V Baltimore

April 30, 2024

https://www.globenewswire.com/news-release/2024/04/30/2872366/0/en/Oceanpal-Inc-Announces-Time-Charter-Contract-for-M-V-Baltimore-With-Richland-Bulk-and-the-Sale-of-M-V-Baltimore.html

ATHENS, Greece, April 30, 2024 (GLOBE NEWSWIRE) — OceanPal Inc. (NASDAQ:OP) (the “Company”), a global shipping company specializing in the ownership of vessels, today announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Richland Bulk Pte. Ltd., for its Capesize dry bulk vessel, the m/v Baltimore. The gross charter rate is US$22,000 per day minus a 5% commission paid to third parties, for a period until minimum September 15, 2024 up to maximum November 15, 2024. The charter is expected to commence in mid-May. The m/v Baltimore is currently chartered to Richland Bulk Pte. Ltd., at a gross charter rate of US$13,500 per day, minus a 5% commission paid to third parties.

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