OceanPal Inc. provides ocean-going transportation services worldwide. It owns and operates dry bulk carriers that transport major bulks, such as iron ore, ...
OceanPal Inc. (NASDAQ: OP) is a shipping transportation company focused on the ownership and operation of vessels used to move commodities by sea. The company operates across the marine shipping sector, primarily serving dry bulk and, through its tanker assets, product tanker market needs. According to its business description, OceanPal ...OceanPal Inc. (NASDAQ: OP) is a shipping transportation company focused on the ownership and operation of vessels used to move commodities by sea. The company operates across the marine shipping sector, primarily serving dry bulk and, through its tanker assets, product tanker market needs. According to its business description, OceanPal owns and operates dry bulk carriers that transport major bulks such as iron ore, coal, and grains, along with minor bulks including steel products, cement, and fertilizers. In addition, it has a product tanker vessel that supports the transportation of refined petroleum products.
From a business model perspective, OceanPal is structured to generate revenue from vessel deployment—typically through chartering arrangements—where the fundamental drivers include freight rates, utilization levels, charter contract terms, and the cost of vessel operation (e.g., crew, maintenance, insurance, and fuel-related or voyage-related expenses depending on charter type). Vessel ownership also exposes the company to cyclical market conditions in bulk shipping and tanker markets, as well as to capital allocation and refinancing considerations that are common to asset-heavy transportation businesses.
On the asset side, the provided description states that, as of December 31, 2023, OceanPal’s fleet consisted of three Panamax dry bulk carriers with a total cargo carrying capacity of approximately 223,546 DWT and one MR2 product tanker vessel with a carrying capacity of 49,999 DWT. The company’s fleet size and vessel types suggest a targeted strategy rather than a diversified large-scale fleet, which can make performance more sensitive to the operating environment for these specific vessel classes.
Financially, the provided market/TTM metrics indicate profitability pressure consistent with early-stage or capital-intensive shipping operations, where cash flows can be affected by operating costs, leverage/financing structure, and fleet acquisition timing. In shipping, balance sheet items and performance metrics can also be influenced by depreciation and impairment accounting for long-lived vessels, working capital dynamics tied to billing and charter settlement timing, and the need for ongoing maintenance capex (even when reported capex may appear limited in some datasets).
Key people include Salvatore Ternullo as CEO (as provided). OceanPal is incorporated in 2021 (the company is based in Athens, Greece, with a principal executive office address provided) and participates in public markets while maintaining a vessel-focused operating footprint.
Overall, OceanPal’s “wish” as an investment and operating proposition is typical for shipping owners: to maintain vessel utilization, secure favorable charter coverage, manage operational and financing costs effectively, and grow or optimize its fleet in line with market cycles while controlling downside risk from volatility in freight markets.
YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength.
QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes.
RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three).
$14.1M
-45.1%
0.0%
Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day.
$-65.2M
-265.0%
0.0%
Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials.
-9.9%
-210.6%
0.0%
Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on).
-202.8%
-188.9%
0.0%
Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales.
-462.4%
-565.4%
0.0%
Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock.
$0
+100.0%
—
FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine.
0.0%
+100.0%
—
Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe.
0.0%
—
—
Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking.
13.35x
+381.6%
0.0%
Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground.
