Oceanpal Inc Stock Price, News & Analysis

OceanPal Inc. (NASDAQ: OP) reported financial results for H1 2025, showing significant challenges. The company recorded time charter revenues of $6.2 million, down 50.4% from $12.4 million in H1 2024. The company's net loss widened to $10.4 million, with net loss attributed to common stockholders reaching $11.9 million.

The fleet performance metrics showed deterioration, with fleet utilization dropping to 92.40% from 97.90% year-over-year. The company's TCE rate declined substantially to $6,832 from $12,189 in the previous year, while daily vessel operating expenses increased to $6,747 from $6,132. The fleet size reduced to 3 vessels from 5 vessels in the comparable period.

OceanPal Inc. (NASDAQ: OP) has successfully completed an upsized public offering, raising approximately US$18.0 million in gross proceeds. The company sold 10,975,600 units at US$1.64 per unit, with each unit comprising one common share and one warrant to purchase an additional common share.

The offering was managed by Maxim Group LLC as the sole book-running manager. The company's registration statements on Form F-1 were declared effective by the SEC on July 21, 2025, and the final prospectus is available on the SEC's website.

OceanPal (NASDAQ: OP) has announced the pricing of its upsized public offering of 10,975,600 units at US$1.64 per unit, expected to raise approximately US$18.0 million in gross proceeds. Each unit includes one common share and one warrant to purchase an additional common share.

The warrants will have a three-year expiration period and will be immediately exercisable at an initial exercise price of 225% of the public offering price, with adjustment provisions and a zero-cash exercise option allowing exchange of each warrant for two common shares. The offering is expected to close on July 22, 2025, with Maxim Group LLC serving as the sole book-running manager.

OceanPal Inc. (NASDAQ: OP), a global shipping company, has successfully regained compliance with Nasdaq's minimum bid price requirement. The company received official notification from Nasdaq on June 30, 2025, confirming that its common shares maintained a closing bid price of $1.00 or higher for 10 consecutive trading days between June 13 and June 27, 2025. This development resolves the company's previous listing compliance issue with Nasdaq Listing Rule 5550(a)(2).

OceanPal Inc. (NASDAQ: OP) has announced the sale of its 2004-built dry bulk vessel M/V Protefs for US$7 million before commissions. The sale is expected to be completed by June 17, 2025, with delivery to an undisclosed third-party buyer. Following this divestment, OceanPal's fleet will be reduced to just three vessels: 2 Panamax dry bulk vessels and one MR2 tanker vessel. This transaction represents a significant fleet reduction for the global shipping company.

OceanPal Inc. (NASDAQ: OP) held its Annual Meeting of Shareholders virtually on May 20, 2025, where shareholders approved three key proposals. The meeting resulted in: (1) The election of three Class I Directors who will serve until 2028, (2) Authorization for the Board to implement one or more reverse stock splits with an aggregate ratio not exceeding 1-for-500, with the exact ratio to be determined by the Board, and (3) The appointment of Ernst & Young (Hellas) as the company's independent auditors for fiscal year 2025.

OceanPal Inc (NASDAQ: OP) has received a notification from Nasdaq dated April 17, 2025, indicating non-compliance with the minimum bid price requirement. The company's stock has traded below the required US$1.00 per share for 30 consecutive business days.

The shipping company has been granted a 180-day grace period until October 14, 2025 to regain compliance. To cure this deficiency, OP's closing bid price must reach US$1.00 or higher for at least ten consecutive business days. If unsuccessful, the company may be eligible for an additional 180-day extension if it meets other listing standards.

During this period, OP will continue trading on the Nasdaq Capital Market, and the company's business operations remain unaffected.

OceanPal Inc (NASDAQ: OP), a global shipping company focused on vessel ownership, has announced the filing of its 2024 Annual Report on Form 20-F with the United States Securities and Exchange Commission. The report is now accessible through the company's website at www.oceanpal.com and the SEC's website at www.sec.gov. Shareholders can request a complimentary hard copy of the complete Annual Report.

OceanPal Inc. (NASDAQ: OP) reported its Q4 and full-year 2024 financial results. In Q4 2024, the company recorded vessel revenues of $5.8 million and a net loss of $8.2 million, compared to revenues of $5.8 million and net income of $58,000 in Q4 2023.

For the full year 2024, vessel revenues increased to $25.7 million from $19.0 million in 2023, while net loss widened to $17.9 million from $2.0 million in 2023. The company's fleet utilization decreased to 96.8% in 2024 from 99.1% in 2023. Daily vessel operating expenses increased significantly to $6,568 in 2024 from $5,832 in 2023.

The company's fleet consists of 3 Panamax bulk carriers, 2 Capesize bulk carriers, and 1 MR2 tanker. Two vessels, the Salt Lake City and Baltimore, were sold and delivered to new owners in February and November 2024, respectively.