OceanPal (NASDAQ:OP) (NASDAQ: OP) is a Bermuda‐incorporated shipping company focused on the ownership and operation of modern crude oil tankers on a long‐term time charter basis. The company’s fleet includes both very large crude carriers (VLCCs) and Suezmax vessels, constructed at leading shipyards and maintained to high technical and safety standards. By securing multi‐year charter agreements with major oil producers and trading houses, OceanPal aims to generate stable revenue streams and enhance predictability of cash flows.
The origins of OceanPal trace back to General Maritime Corp., which was established in 2005 and listed on the NASDAQ. In late 2017, following a strategic corporate restructuring and rebranding, the company adopted its current name and relocated its legal domicile to Bermuda. This transition was designed to provide greater flexibility in fleet financing and to align the company with jurisdictional frameworks favorable to international shipping operations.
OceanPal leverages partnerships with experienced third‐party technical and commercial managers to oversee day‐to‐day vessel operations, crewing, maintenance, and chartering. Its management team comprises maritime professionals with extensive backgrounds in tanker operations, financial structuring, and regulatory compliance, all aimed at promoting operational efficiency and environmental stewardship.
The company’s vessels operate on global trade routes, covering key load and discharge hubs across the Middle East, Asia, Europe, and the Americas. Through disciplined capital allocation, proactive vessel deployment, and a focus on high‐specification tonnage, OceanPal strives to deliver long‐term value to its stakeholders while adhering to the highest standards of safety and environmental responsibility.
