OceanPal continues to grow bulker fleet
Published by Oliver Kleinschmidt,
Assistant Editor
Dry Bulk,
OceanPal Inc. has 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 15 September 2024 up to maximum 15 November 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.
The Baltimore is a 177 243 DWT capesize dry bulk vessel built in 2005.
The employment of Baltimore is anticipated to generate approximately US$2.64 million of gross revenue for the scheduled period of the time charter.
The company also announced that it has signed, through the same wholly-owned subsidiary, a Memorandum of Agreement to sell to a third party, the 2005-built vessel Baltimore, with delivery to the buyer latest by 20 November 2024, for a sale price of US$18.25 million before commissions.
Upon completion of the aforementioned sale, OceanPal Inc.’s fleet will consist of four dry bulk vessels including one capsize vessel and three panamax vessels.
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Read the article online at: https://www.drybulkmagazine.com/shipping/01052024/oceanpal-continues-to-grow-bulker-fleet/
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