OceanPal Inc. announces delivery of capsize vessel: m/v Baltimore

Published by Joe Toft, Editorial Assistant
Dry Bulk, Tuesday, 27 September 2022 11:00

OceanPal Inc., a global shipping company specialising in the ownership of vessels, has announced that, through a separate wholly-owned subsidiary, it has taken delivery of the m/v Baltimore, a 2005 built capesize dry bulk vessel of 177 243 dwt that the company entered into an agreement to purchase in June 2022.

The company also announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Hyundai Glovis Co. Ltd, for m/v Baltimore, for a trip of about 35 days, with an agreed gross charter rate of US$15 000 per day, minus a 5% commission paid to third parties. In the event that the trip duration exceeds 40 days, the gross charter rate will be US$18 000 per day, minus a 5% commission paid to third parties, for each additional day. The charter commenced on 21 September 2022.

The employment of 'Baltimore' is anticipated to generate approximately US$600 000 of gross revenue for the scheduled period of the time charter. OceanPal Inc.’s fleet currently consists of four dry bulk vessels (two capesize and two panamax).

Read the article online at: https://www.drybulkmagazine.com/shipping/27092022/oceanpal-inc-announces-delivery-of-capsize-vessel-mv-baltimore/

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