<SEC-DOCUMENT>0000919574-22-001786.txt : 20220222
<SEC-HEADER>0000919574-22-001786.hdr.sgml : 20220222
<ACCEPTANCE-DATETIME>20220218173246
ACCESSION NUMBER:		0000919574-22-001786
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20220228
FILED AS OF DATE:		20220222
DATE AS OF CHANGE:		20220218

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			OceanPal Inc.
		CENTRAL INDEX KEY:			0001869467
		STANDARD INDUSTRIAL CLASSIFICATION:	DEEP SEA FOREIGN TRANSPORTATION OF FREIGHT [4412]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			1T
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-40930
		FILM NUMBER:		22654066

	BUSINESS ADDRESS:	
		STREET 1:		PENDELIS 26
		STREET 2:		PALAIO FALIRO
		CITY:			ATHENS
		STATE:			J3
		ZIP:			175 64
		BUSINESS PHONE:		30-210-9485-360

	MAIL ADDRESS:	
		STREET 1:		PENDELIS 26
		STREET 2:		PALAIO FALIRO
		CITY:			ATHENS
		STATE:			J3
		ZIP:			175 64
</SEC-HEADER>
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<TYPE>6-K
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<FILENAME>d937934_6-k.htm
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    <div style="text-align: center; line-height: 11.4pt; font-family: 'Times New Roman', serif; font-weight: bold;">FORM 6-K</div>
    <div style="line-height: 11.4pt;"><br style="line-height: 11.4pt;">
    </div>
    <div style="text-align: center; line-height: 11.4pt; font-family: 'Times New Roman', serif; font-weight: bold;">SECURITIES AND EXCHANGE COMMISSION</div>
    <div style="text-align: center; line-height: 11.4pt; font-family: 'Times New Roman', serif; font-weight: bold;">WASHINGTON, D.C.&#160; 20549</div>
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    </div>
    <div style="text-align: center; line-height: 11.4pt; font-family: 'Times New Roman', serif; font-weight: bold;">REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13A-16 OR 15D-16</div>
    <div style="text-align: center; line-height: 11.4pt; font-family: 'Times New Roman', serif; font-weight: bold;">OF THE SECURITIES EXCHANGE ACT OF 1934</div>
    <div style="line-height: 11.4pt;"><br style="line-height: 11.4pt;">
    </div>
    <div style="text-align: center; line-height: 11.4pt; font-family: 'Times New Roman', serif;">For the month of February 2022</div>
    <div style="text-align: center; line-height: 11.4pt; font-family: 'Times New Roman', serif;">Commission File Number:&#160; 001-40930</div>
    <div style="line-height: 11.4pt;"><br style="line-height: 11.4pt;">
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    <div style="text-align: center; line-height: 11.4pt; font-family: 'Times New Roman', serif; font-weight: bold;">OCEANPAL INC.</div>
    <div style="text-align: center; line-height: 11.4pt; font-family: 'Times New Roman', serif;">(Translation of registrant's name into English)</div>
    <div style="text-align: center; line-height: 11.4pt; font-family: 'Times New Roman', serif;">Pendelis 26, 175 64 Palaio Faliro, Athens, Greece</div>
    <div style="text-align: center; line-height: 11.4pt; font-family: 'Times New Roman', serif;">(Address of principal executive office)</div>
    <div style="line-height: 11.4pt;"><br style="line-height: 11.4pt;">
    </div>
    <div style="line-height: 11.4pt; font-family: 'Times New Roman', serif;">Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.</div>
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    </div>
    <div style="line-height: 11.4pt; font-family: 'Times New Roman', serif;">Form 20-F [X]&#160; &#160; &#160;&#160; Form 40-F [&#160; ]</div>
    <div style="line-height: 11.4pt;"><br style="line-height: 11.4pt;">
    </div>
    <div style="line-height: 11.4pt; font-family: 'Times New Roman', serif;">Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): [&#160; ].</div>
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    <div style="line-height: 11.4pt; font-family: 'Times New Roman', serif;"><font style="font-weight: bold;">Note</font>: Regulation S-T Rule 101(b)(1) only permits
      the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.</div>
    <div style="line-height: 11.4pt;"><br style="line-height: 11.4pt;">
    </div>
    <div style="line-height: 11.4pt; font-family: 'Times New Roman', serif;">Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): [&#160; ].</div>
    <div style="line-height: 11.4pt;"><br style="line-height: 11.4pt;">
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    <div style="line-height: 11.4pt; font-family: 'Times New Roman', serif;"><font style="font-weight: bold;">Note</font>: Regulation S-T Rule 101(b)(7) only permits
      the submission in paper of a Form 6-K if submitted to furnish a report or other document that the registrant foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or
      legally organized (the registrant's "home country"), or under the rules of the home country exchange on which the registrant's securities are traded, as long as the report or other document is not a press release, is not required to be and has not
      been distributed to the registrant's security holders, and, if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR.</div>
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    <div style="text-align: center; line-height: 11.4pt; font-family: 'Times New Roman', serif; font-weight: bold;">INFORMATION CONTAINED IN THIS FORM 6-K REPORT</div>
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    </div>
    <div style="line-height: 11.4pt; margin-top: 12pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif;">Attached to this Report on Form 6-K as Exhibit 99.1 is a press release dated February 18, 2022 of
      OceanPal Inc. (the "Company") announcing (i) the cancellation of the time charter contract with Crystal Sea Shipping Co., Limited for its Panamax dry bulk vessel, the m/v Calipso, and (ii) that, through a separate wholly-owned subsidiary, the Company
      has entered into a new time charter trip contract with Atlantic Coal And Bulk Pte. Ltd for the m/v Calipso.</div>
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    <div style="text-align: center; line-height: 11.4pt; font-family: 'Times New Roman', serif; font-weight: bold;">SIGNATURES</div>
    <div style="line-height: 11.4pt;"><br style="line-height: 11.4pt;">
    </div>
    <div style="line-height: 11.4pt; font-family: 'Times New Roman', serif;">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
      the undersigned, thereunto duly authorized.</div>
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            <div style="line-height: 11.4pt; font-family: 'Times New Roman', serif; font-weight: bold;">OCEANPAL INC.</div>
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        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
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            <div style="margin-left: 21.6pt; line-height: 11.4pt; font-family: 'Times New Roman', serif;">(registrant)</div>
          </td>
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          <td style="width: 50%; vertical-align: top;">&#160;</td>
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          <td style="width: 50%; vertical-align: top;" colspan="2">&#160;</td>
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            <div style="line-height: 11.4pt; font-family: 'Times New Roman', serif;">Dated: February 18, 2022</div>
          </td>
          <td style="width: 6.09%; vertical-align: top;">
            <div style="line-height: 11.4pt; font-family: 'Times New Roman', serif;">By:</div>
          </td>
          <td style="width: 43.91%; vertical-align: top;">
            <div style="line-height: 11.4pt; font-family: 'Times New Roman', serif;"><u>/s/ Eleftherios Papatrifon</u></div>
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          <td style="width: 6.09%; vertical-align: top;">&#160;</td>
          <td style="width: 43.91%; vertical-align: top;">
            <div style="line-height: 11.4pt; font-family: 'Times New Roman', serif;">Eleftherios Papatrifon</div>
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          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 6.09%; vertical-align: top;">&#160;</td>
          <td style="width: 43.91%; vertical-align: top;">
            <div style="line-height: 11.4pt; font-family: 'Times New Roman', serif;">Chief Executive Officer</div>
          </td>
        </tr>
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          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 6.09%; vertical-align: top;">&#160;</td>
          <td style="width: 43.91%; vertical-align: top;">&#160;</td>
        </tr>
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          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 6.09%; vertical-align: top;">&#160;</td>
          <td style="width: 43.91%; vertical-align: top;">&#160;</td>
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    <div style="text-align: right; line-height: 11.4pt; font-family: 'Times New Roman', serif; font-weight: bold;">Exhibit 99.1</div>
    <div style="line-height: 11.4pt;"><br style="line-height: 11.4pt;">
    </div>
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          <td style="width: 49%; vertical-align: top;">
            <div style="line-height: 11.4pt; font-family: 'Times New Roman', serif; font-style: italic; font-weight: bold;">Corporate Contact:</div>
          </td>
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          <td style="width: 51%; vertical-align: top;">&#160;</td>
          <td style="width: 49%; vertical-align: top;">
            <div style="line-height: 11.4pt; font-family: 'Times New Roman', serif;">Ioannis Zafirakis</div>
          </td>
        </tr>
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          <td style="width: 51%; vertical-align: top;">&#160;</td>
          <td style="width: 49%; vertical-align: top;">
            <div style="text-align: justify; line-height: 11.4pt; font-family: 'Times New Roman', serif;">Director, President, Interim Chief Financial Officer&#160; and Secretary</div>
          </td>
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          <td style="width: 51%; vertical-align: top;">&#160;</td>
          <td style="width: 49%; vertical-align: top;">
            <div style="line-height: 11.4pt; font-family: 'Times New Roman', serif;">Telephone: +30-210-9485-360</div>
          </td>
        </tr>
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          <td style="width: 51%; vertical-align: top;">&#160;</td>
          <td style="width: 49%; vertical-align: top;">
            <div style="line-height: 11.4pt; font-family: 'Times New Roman', serif;">Email: <font style="color: #0000FF;"><u>izafirakis@oceanpal.com</u></font></div>
          </td>
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          <td style="width: 49%; vertical-align: top;">
            <div style="line-height: 11.4pt; font-family: 'Times New Roman', serif;">Website: <font style="color: #0000FF;"><u>www.oceanpal.com</u></font></div>
          </td>
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          <td style="width: 49%; vertical-align: top;">
            <div style="line-height: 11.4pt; font-family: 'Times New Roman', serif;">Twitter: @OceanPal_Inc</div>
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          <td style="width: 49%; vertical-align: top;">&#160;</td>
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          <td style="width: 49%; vertical-align: top;">
            <div style="line-height: 11.4pt; font-family: 'Times New Roman', serif; font-style: italic; font-weight: bold;">Investor and Media Relations:</div>
          </td>
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          <td style="width: 51%; vertical-align: top;">&#160;</td>
          <td style="width: 49%; vertical-align: top;">
            <div style="line-height: 11.4pt; font-family: 'Times New Roman', serif;">Edward Nebb</div>
          </td>
        </tr>
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          <td style="width: 51%; vertical-align: top;">&#160;</td>
          <td style="width: 49%; vertical-align: top;">
            <div style="line-height: 11.4pt; font-family: 'Times New Roman', serif;">Comm-Counsellors, LLC</div>
          </td>
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          <td style="width: 51%; vertical-align: top;">&#160;</td>
          <td style="width: 49%; vertical-align: top;">
            <div style="line-height: 11.4pt; font-family: 'Times New Roman', serif;">Telephone: + 1-203-972-8350</div>
          </td>
        </tr>
        <tr>
          <td style="width: 51%; vertical-align: top;">&#160;</td>
          <td style="width: 49%; vertical-align: top;">
            <div style="line-height: 11.4pt; font-family: 'Times New Roman', serif;">Email: <font style="color: #0000FF;"><u>enebb@optonline.net</u></font></div>
          </td>
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    <div style="text-align: center; line-height: 11.4pt; font-family: 'Times New Roman', serif; font-weight: bold;">OCEANPAL INC. ANNOUNCES CANCELLATION OF TIME CHARTER CONTRACT AND NEW SHORT TERM CONTRACT</div>
    <div style="text-align: center; line-height: 11.4pt;"><font style="font-family: 'Times New Roman', serif; font-weight: bold;">FOR M/V CALIPSO<br>
        </font><br style="line-height: 11.4pt;">
    </div>
    <div style="text-align: justify; line-height: 11.4pt; font-family: 'Times New Roman', serif;">ATHENS, GREECE, February 18, 2022 &#8211; OceanPal Inc. (NASDAQ: OP) (the &#8220;Company&#8221;), a global shipping company specializing in the ownership of
      vessels, today announced the cancellation of the time charter contract with Crystal Sea Shipping Co., Limited for its Panamax dry bulk vessel, the m/v Calipso, as announced on February 11, 2022. Charterers have exercised their right to cancel the
      time charter contract since the vessel was not delivered, due to unforeseen delays during berthing and discharging operations, unrelated to the condition of the vessel, within the pre-agreed period.</div>
    <div style="line-height: 11.4pt;"><br style="line-height: 11.4pt;">
    </div>
    <div style="text-align: justify; line-height: 11.4pt; font-family: 'Times New Roman', serif;">The Company today also announced that, through a separate wholly-owned subsidiary, it has entered into a time charter trip contract with
      Atlantic Coal And Bulk Pte. Ltd. for the aforementioned vessel, at a gross charter rate of US$17,850 per day, minus a 5% commission paid to third parties, for about twenty-five (25) days. The charter commenced earlier today.</div>
    <div style="line-height: 11.4pt;"><br style="line-height: 11.4pt;">
    </div>
    <div style="text-align: justify; line-height: 11.4pt; font-family: 'Times New Roman', serif;">The &#8220;Calipso&#8221; is a 73,691 dwt Panamax dry bulk vessel built in 2005.</div>
    <div style="line-height: 11.4pt;"><br style="line-height: 11.4pt;">
    </div>
    <div style="text-align: justify; line-height: 11.4pt; font-family: 'Times New Roman', serif;">OceanPal Inc.&#8217;s fleet currently consists of 3 dry bulk vessels (1 Capesize and 2 Panamax). A table describing the current OceanPal Inc. fleet
      can be found on the Company&#8217;s website, www.oceanpal.com. Information contained on the Company&#8217;s website does not constitute a part of this press release.</div>
    <div style="line-height: 11.4pt;"><br style="line-height: 11.4pt;">
    </div>
    <div style="text-align: justify; line-height: 11.4pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif; font-weight: bold;">About the Company</div>
    <div style="text-align: justify; line-height: 11.4pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif;">OceanPal Inc. is a global provider of shipping transportation services through its ownership of vessels. The Company&#8217;s
      vessels currently transport a range of dry bulk cargoes, including such commodities as iron ore, coal, grain and other materials along worldwide shipping routes and it is expected that the Company&#8217;s vessels will be primarily employed on short term
      time and voyage charters following the completion of their current employments.</div>
    <div style="text-align: justify; line-height: 11.4pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif; font-weight: bold;">Forward Looking Statements</div>
    <div style="text-align: justify; line-height: 11.4pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif;">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.</div>
    <div style="text-align: justify; line-height: 11.4pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif;">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 &#8220;believe,&#8221; &#8220;anticipate,&#8221; &#8220;intends,&#8221; &#8220;estimate,&#8221; &#8220;forecast,&#8221; &#8220;project,&#8221; &#8220;plan,&#8221; &#8220;potential,&#8221; &#8220;may,&#8221; &#8220;should,&#8221; &#8220;expect,&#8221; &#8220;pending&#8221; and similar
      expressions identify forward-looking statements.</div>
    <div style="text-align: justify; line-height: 11.4pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif;">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&#8217;s examination of historical operating trends, data contained in the Company&#8217;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&#8217;s control, the Company cannot assure
      you that it will achieve or accomplish these expectations, beliefs or projections.</div>
    <div style="text-align: justify; line-height: 11.4pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif;">In addition to these important factors, other important factors that, in the Company&#8217;s view, could cause actual results
      to differ materially from those discussed in the forward-looking statements include the severity, magnitude and duration of the COVID-19 pandemic, including impacts of the pandemic and of businesses&#8217; and governments&#8217; responses to the pandemic on our
      operations, personnel, and on the demand for seaborne transportation of bulk products; 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&#8217;s operating expenses, including bunker prices, drydocking and insurance costs, the market for the Company&#8217;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, potential disruption of shipping routes due to accidents or political events,
      vessel breakdowns and instances of off-hires and other factors. Please see the Company&#8217;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.</div>
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