Welcome to our dedicated page for Oceanpal news (Ticker: OP), a resource for investors and traders seeking the latest updates and insights on Oceanpal stock.
OceanPal Inc. (historically Nasdaq: OP) generates news across both traditional shipping and newer digital asset and AI-related activities. Company press releases describe OceanPal as a global provider of shipping transportation services, specializing in the ownership and operation of dry bulk vessels and product tankers for the seaborne transportation of bulk commodities and refined petroleum products. At the same time, recent announcements highlight the launch of its wholly owned subsidiary SovereignAI Services LLC, focused on commercializing the NEAR Protocol and implementing a digital asset treasury strategy.
On this news page, readers can review company-issued updates such as financial results, including time charter revenues, net income or loss, and detailed fleet employment profiles. OceanPal has published data on charter rates, charterers, vessel utilization, and non-GAAP measures like time charter equivalent (TCE) rates and daily vessel operating expenses, offering insight into how its fleet performs under time charter and spot arrangements.
OceanPal’s news flow also covers capital markets transactions and corporate actions. In 2025, the company announced an upsized public offering of units consisting of common shares and warrants, a substantial PIPE transaction involving both cash and NEAR tokens, and the establishment of an at-the-market offering program. Additional releases describe a one-for-twenty-five reverse stock split, Nasdaq compliance updates, and the sale of specific vessels, along with the resulting changes in fleet composition.
Another key theme in recent OceanPal news is the development of SovereignAI and the accumulation of NEAR tokens as part of a digital asset treasury strategy. Press releases detail SovereignAI’s NEAR holdings, targeted share of total token supply, and its role in building blockchain-native AI infrastructure. The company has also reported a ticker symbol change from OP to SVRN on Nasdaq, linking its public market identity to the SovereignAI vision. Investors and observers can use this news feed to follow how OceanPal combines its shipping operations with digital asset and AI initiatives over time.
OceanPal (NASDAQ: OP) announced that its wholly owned subsidiary SovereignAI holds 53.9 million NEAR, valued at approximately $133 million as of November 13, 2025 at 12PM EST, representing about 4.2% of total NEAR supply. SovereignAI says it targets accumulating 10% of total NEAR supply and reports yield strategies delivering 5.3+% gross APY before fees.
OceanPal also disclosed a Nasdaq ticker change from OP to SVRN effective November 17, 2025, with no change to shareholder rights and no action required by holders.
OceanPal (NASDAQ: OP) announced a change of its Nasdaq ticker symbol from OP to SVRN. The change will take effect on Monday, November 17, 2025, and trading, regulatory filings, and market reporting will use the new symbol thereafter.
The company said no other corporate actions affecting common stock rights are being taken, shareholders are not required to take any action, the common stock will remain listed on Nasdaq, and the CUSIP will remain unchanged.
OceanPal (NASDAQ: OP) closed a $120M PIPE on October 28, 2025 to fund a new subsidiary, SovereignAI, which will implement a digital-asset treasury strategy to commercialize the NEAR Protocol and build NEAR-powered, confidential AI-cloud infrastructure using NVIDIA technology.
SovereignAI aims to accumulate NEAR tokens with an objective of acquiring at least 10% of NEAR supply over time, and will be supported by the NEAR Foundation, strategic investors, and an advisory board led by Illia Polosukhin. OceanPal will continue its shipping operations while pursuing this treasury-plus-infrastructure strategy.
OceanPal Inc. (NASDAQ: OP) has announced a 1-for-25 reverse stock split effective August 25, 2025. The split was approved by shareholders at the annual meeting on May 20, 2025.
The company's outstanding shares will be reduced from 167,402,561 to approximately 6,696,102 shares. Trading will continue under the symbol "OP" with a new CUSIP number Y6430L301. Shareholders who would receive fractional shares will receive cash payments based on the closing price on August 22, 2025.
OceanPal Inc. (NASDAQ: OP) reported financial results for H1 2025, showing significant challenges. The company recorded time charter revenues of $6.2 million, down 50.4% from $12.4 million in H1 2024. The company's net loss widened to $10.4 million, with net loss attributed to common stockholders reaching $11.9 million.
The fleet performance metrics showed deterioration, with fleet utilization dropping to 92.40% from 97.90% year-over-year. The company's TCE rate declined substantially to $6,832 from $12,189 in the previous year, while daily vessel operating expenses increased to $6,747 from $6,132. The fleet size reduced to 3 vessels from 5 vessels in the comparable period.
OceanPal Inc. (NASDAQ: OP) has successfully completed an upsized public offering, raising approximately US$18.0 million in gross proceeds. The company sold 10,975,600 units at US$1.64 per unit, with each unit comprising one common share and one warrant to purchase an additional common share.
The offering was managed by Maxim Group LLC as the sole book-running manager. The company's registration statements on Form F-1 were declared effective by the SEC on July 21, 2025, and the final prospectus is available on the SEC's website.
OceanPal (NASDAQ: OP) has announced the pricing of its upsized public offering of 10,975,600 units at US$1.64 per unit, expected to raise approximately US$18.0 million in gross proceeds. Each unit includes one common share and one warrant to purchase an additional common share.
The warrants will have a three-year expiration period and will be immediately exercisable at an initial exercise price of 225% of the public offering price, with adjustment provisions and a zero-cash exercise option allowing exchange of each warrant for two common shares. The offering is expected to close on July 22, 2025, with Maxim Group LLC serving as the sole book-running manager.
OceanPal Inc. (NASDAQ: OP), a global shipping company, has successfully regained compliance with Nasdaq's minimum bid price requirement. The company received official notification from Nasdaq on June 30, 2025, confirming that its common shares maintained a closing bid price of $1.00 or higher for 10 consecutive trading days between June 13 and June 27, 2025. This development resolves the company's previous listing compliance issue with Nasdaq Listing Rule 5550(a)(2).
OceanPal Inc. (NASDAQ: OP) held its Annual Meeting of Shareholders virtually on May 20, 2025, where shareholders approved three key proposals. The meeting resulted in: (1) The election of three Class I Directors who will serve until 2028, (2) Authorization for the Board to implement one or more reverse stock splits with an aggregate ratio not exceeding 1-for-500, with the exact ratio to be determined by the Board, and (3) The appointment of Ernst & Young (Hellas) as the company's independent auditors for fiscal year 2025.