Anzeige
Mehr »
Login
Montag, 02.12.2024 Börsentäglich über 12.000 News von 677 internationalen Medien
Eilmeldung: Goldshores aggressiver Winter-Explorationsplan nimmt Gestalt an
Anzeige

Indizes

Kurs

%
News
24 h / 7 T
Aufrufe
7 Tage

Aktien

Kurs

%
News
24 h / 7 T
Aufrufe
7 Tage

Xetra-Orderbuch

Fonds

Kurs

%

Devisen

Kurs

%

Rohstoffe

Kurs

%

Themen

Kurs

%

Erweiterte Suche

WKN: A3EJB9 | ISIN: MHY6430L2029 | Ticker-Symbol:
NASDAQ
29.11.24
15:30 Uhr
1,420 US-Dollar
0,000
0,00 %
Branche
Logistik/Transport
Aktienmarkt
Sonstige
1-Jahres-Chart
OCEANPAL INC Chart 1 Jahr
5-Tage-Chart
OCEANPAL INC 5-Tage-Chart
GlobeNewswire (Europe)
123 Leser
Artikel bewerten:
(0)

OceanPal Inc. Reports Financial Results For The Second Quarter And Six Months Ended June 30, 2024

Finanznachrichten News

ATHENS, Greece, Aug. 07, 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 $6.7 million, a net loss of $8.2 million and net loss attributed to common stockholders of $8.6 million for the second quarter of 2024. This compares to time charter revenues of $5.4 million, a net income of $1.3 million and net income attributed to common stockholders of $483 thousand for the second quarter of 2023.

For the six months ended June 30, 2024, the Company reported time charter revenues of $12.4 million, a net loss of $9.5 million and net loss attributed to common stockholders of $10.3 million. This compares to time charter revenues of $9.3 million, a net income of $1.3 million and net income attributed to common stockholders of $24 thousand for the six months ended June 30, 2023.

Fleet Employment Profile (As of August 7, 2024)

OceanPal Inc.'s fleet is employed as follows:

VesselSister Ships*Gross Rate
(USD/Day)
Com**CharterersDelivery Date to
Charterers***
Redelivery Date to
Owners****
Notes
BUILT DWT
3 Panamax Bulk Carriers
1PROTEFSA$10,5005.00%LOUIS DREYFUS COMPANY FREIGHT ASIA PTE LTD12-Sep-2309-Apr-241
2004 73,630 $13,0005.00%CHINA RESOURCE CHARTERING LIMITED14-Apr-2414-Jul-24
$8,6005.00%BG SHIPPING (SINGAPORE) PTE. LTD.14-Jul-2414-Aug-242
2CALIPSO

2005 73,691
A$13,2505.00%COFCO INTERNATIONAL FREIGHT SA06-Apr-2403-Aug-243
3MELIA $15,2505.00%OLDENDORFF CARRIERS GMBH & CO. KG01-May-2404-Aug-24
2005 76,225 $11,7505.00%CHINA RESOURCE CHARTERING LIMITED04-Aug-2412-Nov-244
2 Capesize Bulk Carriers
4SALT LAKE CITY $15,1505.00%DEYESION SHIPPING & TRADING COMPANY LIMITED06-Feb-2401-Jun-24
2005 171,810 $23,0005.00%01-Jun-2427-Jul-24
$19,0005.00%27-Jul-2405-Sep-245
5BALTIMORE $13,5005.00%RICHLAND BULK PTE. LTD.18-Nov-2302-May-246
2005 177,243 $22,0005.00%09-May-2415-Sep-24 - 15-Nov-247
1 MR2 Tanker
6ZEZE START
2009 49,999
-- ---8
*Each dry bulk carrier is a "sister ship", or closely similar, to other dry bulk carriers that have the same letter.
**Total commission percentage paid to third parties.
***In case of newly acquired vessel with new time charter attached, this date refers to the expected/actual date of delivery of the vessel to the Company.
****Range of redelivery dates, with the actual date of redelivery being at the Charterers' option, but subject to the terms, conditions, and exceptions of the particular charterparty.

1 Charterers compensated the Owners at a rate of 80% of the Baltic Panamax Index 5 TC average as published by the Baltic Exchange on a daily basis for the excess period commencing from March 25, 2024 until the actual redelivery date.
2 Redelivery date on an estimated time charter trip duration of about 31 days.
3 Currently without an active charterparty.
4 Redelivery date on an estimated time charter trip duration of about 100 days.
5 Redelivery date on an estimated time charter trip duration of about 40 days.
6 Vessel on scheduled maintenance during the period from May 2, 2024 to May 9, 2024.
7 Vessel has been sold and it is expected to be delivered to her new Owners by latest November 20, 2024.
8 Vessel is expected to be delivered to the Company by latest September 20, 2024.

Summary of Selected Financial & Other Data

Three months ended June 30, Six months ended June 30,
2024 2023 2024 2023
(unaudited) (unaudited) (unaudited) (unaudited)
STATEMENT OF OPERATIONS DATA (in thousands of US Dollars)
Time charter revenues$6,737 $5,395 $12,424 $9,283
Voyage expenses 826 704 1,417 1,276
Vessel operating expenses 2,859 2,485 5,580 5,036
Net (loss)/income and comprehensive (loss)/income (8,205) 1,259 (9,511) 1,347
Net (loss)/income and comprehensive (loss)/income attributed to common stockholders (8,623) 483 (10,321) 24
FLEET DATA
Average number of vessels 5.0 5.0 5.0 4.8
Number of vessels 5.0 5.0 5.0 5.0
Weighted average age of vessels 19.3 18.3 19.3 18.3
Ownership days 455 455 910 867
Available days 448 455 903 847
Operating days 433 455 884 840
Fleet utilization 96.7% 100.0% 97.9% 99.2%
AVERAGE DAILY RESULTS (in US Dollars)
Time charter equivalent (TCE) rate (1)$13,194 $10,310 $12,189 $9,453
Daily vessel operating expenses (2)$6,284 $5,462 $6,132 $5,809

Non-GAAP Measures

(1) Time charter equivalent rates, or TCE rates, are defined as time charter revenues less voyage expenses during a period divided by the number of Available days during the period, which is consistent with industry standards. Voyage expenses include port charges, bunker (fuel) expenses, canal charges and commissions. TCE is a non-GAAP measure. TCE rate is a standard shipping industry performance measure used primarily to compare daily earnings generated by vessels on time charters with daily earnings generated by vessels on voyage charters, because charter hire rates for vessels on voyage charters are generally not expressed in per day amounts while charter hire rates for vessels on time charters are generally expressed in such amounts.
(2) Daily vessel operating expenses, which include crew wages and related costs, the cost of insurance, expenses relating to repairs and maintenance, the costs of spares and consumable stores, tonnage taxes and other miscellaneous expenses, are calculated by dividing vessel operating expenses by ownership days for the relevant period.

About the Company

OceanPal Inc. is a global provider of shipping transportation services through its ownership of vessels. The Company's fleet currently consists of dry bulk vessels which currently transport a range of dry bulk cargoes, including such commodities as iron ore, coal, grain and other materials along worldwide shipping routes.

Forward Looking Statements

Matters discussed in this press release may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements.

The Company desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. The words "believe," "anticipate," "intends," "estimate," "forecast," "project," "plan," "potential," "may," "should," "expect," "pending" and similar expressions identify forward-looking statements.

The forward-looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, Company management's examination of historical operating trends, data contained in the Company's records and other data available from third parties. Although the Company believes that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies that are difficult or impossible to predict and are beyond the Company's control, the Company cannot assure you that it will achieve or accomplish these expectations, beliefs or projections.

In addition to these important factors, other important factors that, in the Company's view, could cause actual results to differ materially from those discussed in the forward-looking statements include the strength of world economies and currencies, general market conditions, including fluctuations in charter rates and vessel values, changes in demand for dry bulk shipping capacity, changes in the Company's operating expenses, including bunker prices, drydocking and insurance costs, the market for the Company's vessels, availability of financing and refinancing, changes in governmental rules and regulations or actions taken by regulatory authorities, potential liability from pending or future litigation, general domestic and international political conditions, including risks associated with the continuing conflict between Russia and Ukraine and related sanctions, potential disruption of shipping routes due to accidents or political events, including the escalation of the conflict in the Middle East, vessel breakdowns and instances of off-hires and other factors. Please see the Company's filings with the U.S. Securities and Exchange Commission for a more complete discussion of these and other risks and uncertainties. The Company undertakes no obligation to revise or update any forward-looking statement, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.

(See financial tables attached)
OCEANPAL INC.
FINANCIAL TABLES
Expressed in thousands of U.S. Dollars, except for share and per share data
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE (LOSS)/INCOME
Three months ended June 30, Six months ended June 30,
2024
2023 2024 2023
(unaudited) (unaudited) (unaudited) (unaudited)
REVENUES:
Time charter revenues$6,737 $5,395 $12,424 $9,283
EXPENSES:
Voyage expenses 826 704 1,417 1,276
Vessel operating expenses 2,859 2,485 5,580 5,036
Depreciation and amortization of deferred charges 1,561 2,149 3,444 4,042
General and administrative expenses 1,652 1,384 3,287 2,609
Management fees to related parties 315 315 630 606
Impairment loss 1,087 - 1,087 -
Other operating loss 6,761 14 6,746 17
Operating loss$ (8,324) $(1,656) $(9,767)$(4,303)
Change in fair value of warrants' liability - 2,757 - 6,335
Finance costs - 10 - (901)
Loss on equity method investment (10) - (15) -
Other income 8 - 15 -
Interest income 121 148 256 216
Net (loss)/income and comprehensive (loss)/income$ (8,205) $1,259 $(9,511)$1,347
Less: Deemed dividend upon redemption of Series D preferred stock - (154) (2) (154)
Less: Dividends on Series C preferred stock (177) (306) (327) (575)
Less: Dividends on Series D preferred stock (241) (301) (481) (592)
Less: Undistributed earnings on class A warrants - (15) - (2)
Net (loss)/income attributed to common stockholders$ (8,623) $483 $(10,321) $24
(Loss)/Earnings per common share, basic$ (1.16) $0.27 $(1.39)$0.02
Loss per common share, diluted$(1.16) $(1.12) $(1.39)$(4.49)
Weighted average number of common shares, basic 7,451,977 1,794,623 7,451,646 1,362,644
Weighted average number of common shares, diluted 7,451,977 1,875,149 7,451,646 1,405,001
CONDENSED CONSOLIDATED BALANCE SHEET DATA
(in thousands of U.S. Dollars)
June 30,
2024
December 31,
2023*
ASSETS (unaudited)
Cash and cash equivalents$10,801 $14,841
Other current assets 23,154 5,203
Vessels, net 49,452 71,100
Other non-current assets 3,034 3,701
Total assets $86,441 $94,845
LIABILITIES AND STOCKHOLDERS' EQUITY
Liabilities$2,742 $2,286
Total stockholders' equity 83,699 92,559
Total liabilities and stockholders' equity $86,441 $94,845

*The balance sheet data have been derived from the audited consolidated financial statements at that date.

OTHER FINANCIAL DATA
Three months ended
June 30,
Six months ended
June 30,
2024 2023 2024 2023
(unaudited) (unaudited) (unaudited) (unaudited)
Net cash (used in)/provided by operating activities$(4,219) $(91) $(3,299) $555
Net cash used in investing activities$- $(41) $- $(4,098)
Net cash (used in)/provided by financing activities$(391) $(622) $(741) $12,692


© 2024 GlobeNewswire (Europe)
Treibt Nvidias KI-Boom den Uranpreis?
In einer Welt, in der künstliche Intelligenz zunehmend zum Treiber technologischer Fortschritte wird, rückt auch der Energiebedarf, der für den Betrieb und die Weiterentwicklung von KI-Systemen erforderlich ist, in den Fokus.

Nvidia, ein Vorreiter auf dem Gebiet der KI, steht im Zentrum dieser Entwicklung. Mit steigender Nachfrage nach leistungsfähigeren KI-Anwendungen steigt auch der Bedarf an Energie. Uran, als Schlüsselkomponente für die Energiegewinnung in Kernkraftwerken, könnte dadurch einen neuen Stellenwert erhalten.

Dieser kostenlose Report beleuchtet, wie der KI-Boom potenziell den Uranmarkt beeinflusst und stellt drei aussichtsreiche Unternehmen vor, die von diesen Entwicklungen profitieren könnten und echtes Rallyepotenzial besitzen

Handeln Sie Jetzt!

Fordern Sie jetzt den brandneuen Spezialreport an und profitieren Sie von der steigenden Nachfrage, der den Uranpreis auf neue Höchststände treiben könnte.
Werbehinweise: Die Billigung des Basisprospekts durch die BaFin ist nicht als ihre Befürwortung der angebotenen Wertpapiere zu verstehen. Wir empfehlen Interessenten und potenziellen Anlegern den Basisprospekt und die Endgültigen Bedingungen zu lesen, bevor sie eine Anlageentscheidung treffen, um sich möglichst umfassend zu informieren, insbesondere über die potenziellen Risiken und Chancen des Wertpapiers. Sie sind im Begriff, ein Produkt zu erwerben, das nicht einfach ist und schwer zu verstehen sein kann.