OceanPal Enters Time Charter Contract For M/V Calipso Vessel

OceanPal Inc OP has entered into a time charter contract with Tongli Shipping Pte. Ltd. for its 2005-built Panamax dry bulk vessel, the m/v Calipso.
The gross charter rate is $24,500 per day for a minimum of 90 days up to a maximum up to August 5, 2022.
The company expects the charter to commence on March 9, 2022, and the employment to generate ~$2.21 million of gross revenue for the minimum scheduled time charter period.
OceanPal's fleet consists of 3 dry bulk vessels (1 Capesize and 2 Panamax).
Price Action: OP shares are trading higher by 8.56% at $0.52 on the last check Wednesday.