NEWS
OceanPal Inc. Announces Agreement to Acquire an MR2 Tanker Vessel
OceanPal Inc. (NASDAQ:OP) has announced an agreement to acquire an MR2 tanker vessel, the m/t Zeze Start, for $27.0 million. This strategic move marks the company's entry into the product tanker sector, diversifying its fleet. The purchase price will be paid with $18.9 million in cash and the remainder in Series D Preferred Stock. Of the cash component, $10.9 million will be paid after delivery, bearing a 5% annual interest. The 2009-built vessel has a capacity of 49,999 dwt. Upon completion of this acquisition and the previously announced sale of m/v Baltimore, OceanPal's fleet will consist of 5 vessels (1 MR2 tanker, 1 Capesize, and 3 Panamax dry bulk vessels).
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