XML 69 R18.htm IDEA: XBRL DOCUMENT
v3.25.1

Segment information | 12 Months Ended
--- | ---
Dec. 31, 2024
Segment information [Abstract] |
Segment information | 11. Segment information The Company has determined that it operates under two reportable segments from which it derives its revenues, the dry bulk segment and the tanker segment. The table below presents information about the Company’s reportable segments for the year ended December 31, 2024. The accounting policies followed in the preparation of the reportable segments are the same as those followed in the preparation of the Company’s consolidated financial statements. Segment results are evaluated based on income/(loss) from operations.
|  | December 31, 2024 |  |  | December 31, 2023 |  |  | December 31, 2022 |
|  | Dry Bulk segment |  |  | Tanker segment |  |  | Total |  |  | Dry Bulk segment |  |  | Dry Bulk segment |
-Time charter revenues |  | $ | 24,768 |  |  | $ | - |  |  | $ | 24,768 |  |  | $ | 18,957 |  |  | $ | 19,085 |
-Voyage charter revenues |  |  | - |  |  |  | 934 |  |  |  | 934 |  |  |  | - |  |  |  | - |
Vessel revenues, net |  | $ | 24,768 |  |  | $ | 934 |  |  | $ | 25,702 |  |  | $ | 18,957 |  |  | $ | 19,085 |
Voyage expenses |  |  | 3,104 |  |  |  | 606 |  |  |  | 3,710 |  |  |  | 1,940 |  |  |  | 3,680 |
Vessel operating expenses |  |  | 10,961 |  |  |  | 1,525 |  |  |  | 12,486 |  |  |  | 10,421 |  |  |  | 6,880 |
Management fees |  |  | 1,139 |  |  |  | 84 |  |  |  | 1,223 |  |  |  | 1,116 |  |  |  | 758 |
Impairment loss |  |  | 2,394 |  |  |  | 3,728 |  |  |  | 6,122 |  |  |  | - |  |  |  | - |
Loss on sale of vessel |  |  | 7 |  |  |  | - |  |  |  | 7 |  |  |  | - |  |  |  | - |
General and administrative expenses |  |  | 8 |  |  |  | 1 |  |  |  | 9 |  |  |  | 7 |  |  |  | 5 |
Depreciation and amortization of deferred charges |  |  | 6,368 |  |  |  | 830 |  |  |  | 7,198 |  |  |  | 7,670 |  |  |  | 4,896 |
Other operating (income)/loss |  |  | (81 | ) |  |  | - |  |  |  | (81 | ) |  |  | 125 |  |  |  | - |
Segments’ operating income/(loss) |  | $ | 868 |  |  | $ | (5,840 | ) |  | $ | (4,972 | ) |  | $ | (2,322 | ) |  | $ | 2,866 |
Less: Unallocated general and administrative expenses (1) |  |  | - |  |  |  | - |  |  |  | (6,203 | ) |  |  | (5,274 | ) |  |  | (3,078 | )
Less: Unallocated management fees (1) |  |  | - |  |  |  | - |  |  |  | (120 | ) |  |  | (120 | ) |  |  | (120 | )
Less: Unallocated support agreement costs (1) |  |  | - |  |  |  | - |  |  |  | (6,750 | ) |  |  | - |  |  |  | - |
Less: Unallocated other operating (loss)/gain (1) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (6 | ) |  |  | 6 |
Total consolidated operating loss |  |  |  |  |  |  |  |  |  | $ | (18,045 | ) |  | $ | (7,722 | ) |  | $ | (326 | )
(1) | Refers to general and administrative expenses, support agreement costs, management fees and other operating loss of the parent company, OceanPal Inc.
A reconciliation of total segment assets to total assets presented in the accompanying consolidated balance sheets of December 31, 2024, and December 31, 2023, is as follows:
|  | December 31, 2024 |  |  | December 31, 2023 |
Dry bulk segment |  | $ | 53,205 |  |  | $ | 78,480 |
Tanker segment |  |  | 26,873 |  |  |  | - |
Cash and cash equivalents (1) |  |  | 6,284 |  |  |  | 14,584 |
Equity method investment (1) |  |  | 2,970 |  |  |  | 1,645 |
Prepaid expenses and other current assets, net (1) |  |  | 130 |  |  |  | 136 |
Total consolidated assets |  | $ | 89,462 |  |  | $ | 94,845 |
(1) | Refers to the assets of the parent company, OceanPal Inc.

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 48 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-48 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 270 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (i) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482964/270-10-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (ee) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 5: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 6: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 7: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 8: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 9: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 10: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 11: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-31 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-34 Reference 15: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26C -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26C Reference 16: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26B -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26B Reference 17: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-15 Reference 18: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-42 Reference 19: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-40 Reference 20: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/280/tableOfContent Reference 21: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26 Reference 22: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-41 Reference 23: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 24: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 25: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration