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Summary Small, Greece-based tanker operator continues to grow the company to the detriment of common shareholders. Discussing ugly terms of the most recent equity offerings and updating net asset value estimates. Company has used the offering proceeds to acquire two additional...
Diana Shipping used to be one of the most conservative companies in the shipping space. However, it lost its way. Management lost credibility by engaging with Kalani, through Diana Containerships, and the new "Diana Group" is becoming more and more complicated. There used to be on...
Company reports less-than-stellar Q2 results and perplexed market participants with the disclosure of an ugly related-party deal for a pair of Handysize dry bulk carriers. The transaction resulted in Vafias family-controlled entity Brave Maritime extracting $39 million of the company'...
OceanPal press release ( NASDAQ: OP ): Q2 GAAP EPS of $0.01. Revenue of $4.57M. For further details see: OceanPal GAAP EPS of $0.01, revenue of $4.57M
Navios Maritime Partners bails out debt-laden former parent Navios Maritime Holdings in a $835 million deal thus adding another 36 dry bulk carriers to its fleet. While one can discuss the suboptimal capital allocation, the transaction won't result in additional dilution to common uni...
Penny stocks are well-known for their high-risk profiles. But you also can’t ignore their potential for massive gains, either. Over the last few months, while the stock market crashed, plenty of stocks under $5 experienced explosive moves to as much as 1,000%+. Are those gains normal...
OceanPal ( NASDAQ: OP ) has announced that it has entered into a time charter contract with ETG Commodities Ltd for its Panamax dry bulk vessel, the m/v Calipso. The gross charter rate is $19,600/day minus a 5% commission paid to third parties, for a period of about ninety...
Discussing proposed spin-off of United Maritime Corporation. Transaction is based on the successful blueprints provided by Imperial Petroleum and OceanPal. Given United Maritime's tiny initial share count of just 1.5 million common shares, momentum traders are likely to chase the ...
Company reports uninspiring first quarter results as earnings remained impacted by unfavorable legacy charter rates. Cash generation should increase going forward as vessels commence new employment at vastly improved charter rates. Discussing fairly unusual terms of this week's ag...
Shipping company OceanPal (NASDAQ:OP) signed a memorandum of agreement to acquire the capesize dry bulk vessel m/v Baltimore from Diana Shipping (DSX), a related party of the company, for $22.0M. The acquisition was approved by a committee of independent members of the OP's board. 2...
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ATHENS, Greece, July 16, 2024 (GLOBE NEWSWIRE) -- OceanPal Inc. (NASDAQ:OP) (“OceanPal” or the “Company”), a global shipping company specializing in the ownership of vessels, today announced that it has signed, through a separate wholly-owned subsidiary, a Memorandum o...
ATHENS, Greece, June 06, 2024 (GLOBE NEWSWIRE) -- OceanPal Inc. (NASDAQ: OP) (the “Company”), a global shipping company specializing in the ownership of vessels, today reported time charter revenues of $5.7 million, net loss of $1.3 million and net loss attributed to common stockhol...
ATHENS, Greece, May 17, 2024 (GLOBE NEWSWIRE) -- OceanPal Inc. (NASDAQ: OP) (the “Company”), a global shipping company specializing in the ownership of vessels, today announced that the Company’s Annual Meeting of Shareholders (the “Meeting”) was duly held on Ma...