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Benzinga
Benzinga
Business
Akanksha Bakshi

OceanPal Enters Time Charter Contract For M/V Calipso Vessel

Panamax
  • OceanPal Inc (NASDAQ:OP) has entered into a time charter contract with Tongli Shipping Pte. Ltd. for its 2005-built Panamax dry bulk vessel, the m/v Calipso.
  • The gross charter rate is $24,500 per day for a minimum of 90 days up to a maximum up to August 5, 2022.
  • The company expects the charter to commence on March 9, 2022, and the employment to generate ~$2.21 million of gross revenue for the minimum scheduled time charter period.
  • OceanPal's fleet consists of 3 dry bulk vessels (1 Capesize and 2 Panamax).
  • Price Action: OP shares are trading higher by 8.56% at $0.52 on the last check Wednesday.
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