OceanPal Enters Time Charter Contract For Calipso Vessel

OceanPal Inc OP has entered into a time charter contract with Crystal Sea Shipping Co., Limited for its Panamax dry bulk vessel, the m/v Calipso.
The gross charter rate is $22,500 per day for about three months up to a maximum of July 10, 2022. The charter is expected to commence on February 13, 2022.
The 2005-built Calipso vessel is currently chartered at a gross charter rate of $13,850 per day.
The company expects the employment to generate ~$1.69 million of gross revenue for the minimum scheduled period.
Price Action: OP shares are trading higher 16.3% at $0.50 on the last check Friday.