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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.