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Posted On: 08/29/2023 10:47:55 AM
Post# of 145207
$OP 1.62 NEWS Becomes Strategic Partner
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OceanPal Inc. Becomes Strategic Partner In Two 6,600dwt Methanol-Ready Chemical Tanker Newbuildings
BENZINGA 8:34 AM ET 8/29/2023
Symbol Last Price Change
OP 1.62up +0.01 (+0.6211%)
QUOTES AS OF 10:44:21 AM ET 08/29/2023
OceanPal Inc. (NASDAQ:OP) (the "Company"
, a global shipping company specializing in the ownership of vessels, announced that the Company today agreed to become a strategic partner and invest in a Norwegian entity, RFSea Infrastructure II AS, that will construct, at Wuhu Shipyard Co., Ltd. (China), under two separate newbuilding contracts, two 6,600 dwt methanol-ready, stainless steel chemical tankers with expected deliveries during the fourth quarter of 2025 and the first quarter of 2026, respectively. The transaction remains subject to the satisfaction of customary closing conditions.
The Company is partnering with a private London-based alternative investment and commercial management firm focusing on the maritime industry and other partners and investors. Fearnley Securities AS acted as the project arranger.
Robert Perri, CEO of OceanPal Inc., stated, "We are pleased to invest in these state of the art, methanol-ready chemical tankers, in a chemical tanker market where we believe the fundamentals will improve in the next several years. In addition, this investment will improve our environmental footprint, as these newbuildings are expected to be 20-25% more fuel efficient than conventional chemical tankers."
All Content and Data provided by Third-Parties — Terms of Use
OceanPal Inc. Becomes Strategic Partner In Two 6,600dwt Methanol-Ready Chemical Tanker Newbuildings
BENZINGA 8:34 AM ET 8/29/2023
Symbol Last Price Change
OP 1.62up +0.01 (+0.6211%)
QUOTES AS OF 10:44:21 AM ET 08/29/2023
OceanPal Inc. (NASDAQ:OP) (the "Company"
, a global shipping company specializing in the ownership of vessels, announced that the Company today agreed to become a strategic partner and invest in a Norwegian entity, RFSea Infrastructure II AS, that will construct, at Wuhu Shipyard Co., Ltd. (China), under two separate newbuilding contracts, two 6,600 dwt methanol-ready, stainless steel chemical tankers with expected deliveries during the fourth quarter of 2025 and the first quarter of 2026, respectively. The transaction remains subject to the satisfaction of customary closing conditions. The Company is partnering with a private London-based alternative investment and commercial management firm focusing on the maritime industry and other partners and investors. Fearnley Securities AS acted as the project arranger.
Robert Perri, CEO of OceanPal Inc., stated, "We are pleased to invest in these state of the art, methanol-ready chemical tankers, in a chemical tanker market where we believe the fundamentals will improve in the next several years. In addition, this investment will improve our environmental footprint, as these newbuildings are expected to be 20-25% more fuel efficient than conventional chemical tankers."
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