OceanPal Inc. announces time charter contract with Louis Dreyfus

April 13 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 Louis Dreyfus Company Freight Asia Pte Ltd, for one of its Panamax dry bulk vessels, the m/v Melia.

The gross charter rate is US$14,000 per day minus a 5% commission paid to third parties, for a period of minimum one hundred twenty days to about one hundred eighty days. The charter commenced on April 9, 2023.

The “Melia” is a 76,225 dwt Panamax dry bulk vessel built in 2005.

The employment of “Melia” is anticipated to generate approximately US$1.68 million of gross revenue for the minimum scheduled period of the time charter.