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OceanPal Inc. announces time charter contract with Koch

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Dry Bulk,

OceanPal Inc., a global shipping company specialising in the ownership of vessels, has entered into a time charter contract with Koch Shipping Pte. Ltd, Singapore for its capesize dry bulk vessel, the m/v Salt Lake City. The gross charter rate is US$29 750/d minus a 5% commission paid to third parties, for a period of minimum four months up to maximum seven months. The charter is expected to commence on 8 June 2022. The m/v Salt Lake City is currently chartered to C Transport Maritime Ltd., Bermuda at a gross charter rate of US$13 000/d, minus a 5% commission paid to third parties.

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$3.57 million of gross revenue for the minimum scheduled period of the time charter (i.e. about 120 days).

OceanPal Inc.’s fleet currently consists of three dry bulk vessels (one capesize and two panamax).

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