OceanPal announces time charter contract for m/v Salt Lake City

OceanPal has entered into a time charter contract with Five Ocean Corporation, for one of its Capesize dry bulk vessels, the m/v Salt Lake City. The gross charter rate is $14,500 per day minus a 5% commission paid to third parties, for a period of about one hundred twenty days to about one hundred eighty days. The charter is expected to commence on September 24, 2023. The “Salt Lake City” is a 171,810 dwt Capesize dry bulk vessel built in 2005. The employment of “Salt Lake City” is anticipated to generate approximately $1.52M of gross revenue for the minimum scheduled period of the time charter.