OceanPal Inc. announces time charter contract for m/v Baltimore with Koch

February 09 2023 Print This Article

OceanPal Inc., a global shipping company specializing in the ownership of vessels, announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Koch Shipping Pte. Ltd., Singapore, for its Capesize dry bulk vessel, the m/v Baltimore.

The gross charter rate is US$13,300 per day minus a 5% commission paid to third parties, for a period of minimum five (5) months to about eight months.

The charter is expected to commence on February 9, 2023. The m/v Baltimore is currently chartered to Enesel Bulk Logistics DMCC at a gross charter rate of US$12,900 per day, minus a 5% commission paid to third parties.

The “Baltimore” is a 177,243 dwt Capesize dry bulk vessel built in 2005.

The employment of “Baltimore” is anticipated to generate approximately US$2.0 million of gross revenue for the scheduled period of the time charter.