$OP
OceanPal Inc. Stock $op

$op Overview Financials Valuation SEC Filings Company Website

2023 Q4 Form 20-F Financial Statement

#000114036124019755 Filed on April 15, 2024

Income Statement

Concept	2023 Q4	2023	2022 Q4
Revenue	$5.808M	$18.96M	$5.724M
YoY Change	1.47%	-0.67%	329.09%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin	$1.693M	$6.517M	$1.380M
YoY Change	22.68%	64.53%	219.44%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization	$7.670M	$7.670M	$4.896M
YoY Change	56.66%	56.66%	-684.32%
% of Gross Profit
Operating Expenses	$5.903M	$26.68M	$8.212M
YoY Change	-28.12%	37.44%	584.33%
Operating Profit		-$7.722M
YoY Change		2268.71%
Interest Expense	$141.0K	-$403.0K
YoY Change
% of Operating Profit
Other Income/Expense, Net	$12.00K	$6.148M
YoY Change
Pretax Income	$58.00K	-$1.977M	-$2.488M
YoY Change	-102.33%	506.44%	-1956.72%
Income Tax
% Of Pretax Income
Net Earnings	-$2.842M	-$6.707M	-$2.890M
YoY Change	-1.66%	1957.36%	-2256.72%
Net Earnings / Revenue	-48.93%	-35.38%	-50.49%
Basic Earnings Per Share		-$2.02
Diluted Earnings Per Share	-$0.41	-$2.02	-$0.67
COMMON SHARES
Basic Shares Outstanding	7.449M	3.316M	10.18M
Diluted Shares Outstanding		3.372M

Balance Sheet

Concept	2023 Q4	2023	2022 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments	$14.84M	$14.84M	$8.454M
YoY Change	75.55%	75.55%	405.32%
Cash & Equivalents	$14.84M	$14.84M	$8.454M
Short-Term Investments
Other Short-Term Assets	$895.0K	$895.0K	$1.126M
YoY Change	-20.52%	-20.52%	144.78%
Inventory	$287.0K	$287.0K	$334.0K
Prepaid Expenses
Receivables	$2.963M	$2.963M	$4.252M
Other Receivables	$1.058M	$1.058M	$0.00
Total Short-Term Assets	$20.04M	$20.04M	$14.17M
YoY Change	41.44%	41.44%	342.84%
LONG-TERM ASSETS
Property, Plant & Equipment	$71.10M	$71.10M	$63.67M
YoY Change	11.67%	11.67%	39.24%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments	$1.645M		$0.00
YoY Change
Other Assets	$3.701M	$3.701M	$1.175M
YoY Change	214.98%	214.98%	673.03%
Total Long-Term Assets	$74.80M	$74.80M	$64.85M
YoY Change	15.35%	15.35%	41.34%
TOTAL ASSETS
Total Short-Term Assets	$20.04M	$20.04M	$14.17M
Total Long-Term Assets	$74.80M	$74.80M	$64.85M
Total Assets	$94.85M	$94.85M	$79.02M
YoY Change	20.03%	20.03%	61.0%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$405.0K	$405.0K	$281.0K
YoY Change	44.13%	44.13%	6.84%
Accrued Expenses	$898.0K	$898.0K	$1.154M
YoY Change	-22.18%	-22.18%	202.89%
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$0.00	$0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities	$2.286M	$2.286M	$2.459M
YoY Change	-7.04%	-7.04%	164.12%
LONG-TERM LIABILITIES
Long-Term Debt	$0.00	$0.00	$0.00
YoY Change
Other Long-Term Liabilities		$0.00
YoY Change
Total Long-Term Liabilities	$0.00	$0.00	$0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities	$2.286M	$2.286M	$2.459M
Total Long-Term Liabilities	$0.00	$0.00	$0.00
Total Liabilities	$2.286M	$2.286M	$2.459M
YoY Change	-7.04%	-7.04%	164.12%
SHAREHOLDERS EQUITY
Retained Earnings	-$8.020M		-$2.321M
YoY Change	245.54%		-3670.77%
Common Stock	$74.00K		$102.0K
YoY Change	-27.45%		1033.33%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity	$92.56M	$92.56M	$76.56M
YoY Change
Total Liabilities & Shareholders Equity	$94.85M	$94.85M	$79.02M
YoY Change	20.03%	20.03%	61.0%

Cashflow Statement

Concept	2023 Q4	2023	2022 Q4
OPERATING ACTIVITIES
Net Income	-$2.842M	-$6.707M	-$2.890M
YoY Change	-1.66%	1957.36%	-2256.72%
Depreciation, Depletion And Amortization	$7.670M	$7.670M	$4.896M
YoY Change	56.66%	56.66%	-684.32%
Cash From Operating Activities	$130.0K	$815.0K	-$1.310M
YoY Change	-109.92%	-46.13%	-50.12%
INVESTING ACTIVITIES
Capital Expenditures	$4.368M	$4.368M	$5.094M
YoY Change	-14.25%	-14.25%	-40786.9%
Acquisitions
YoY Change
Other Investing Activities	$4.103M	-$1.643M
YoY Change
Cash From Investing Activities	-$265.0K	-$6.011M	-$96.00K
YoY Change	176.04%	18.0%	666.77%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net	$15.16M	$15.16M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	-547.0K	11.58M	-404.0K
YoY Change	35.4%	11.78%	-109.29%
NET CHANGE
Cash From Operating Activities	130.0K	815.0K	-1.310M
Cash From Investing Activities	-265.0K	-6.011M	-96.00K
Cash From Financing Activities	-547.0K	11.58M	-404.0K
Net Change In Cash	-682.0K	6.387M	-1.810M
YoY Change	-62.32%	-5.81%	-205.8%
FREE CASH FLOW
Cash From Operating Activities	$130.0K	$815.0K	-$1.310M
Capital Expenditures	$4.368M	$4.368M	$5.094M
Free Cash Flow	-$4.238M	-$3.553M	-$6.404M
YoY Change	-33.82%	-0.78%	145.01%

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value
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CY2023	dei	Document Annual Report DocumentAnnualReport	true
CY2023	dei	Document Period End Date DocumentPeriodEndDate	2023-12-31
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CY2023	dei	Document Shell Company Report DocumentShellCompanyReport	false
CY2023	dei	Entity File Number EntityFileNumber	001-40930
CY2023	dei	Entity Registrant Name EntityRegistrantName	OCEANPAL INC.
CY2023	dei	Entity Incorporation State Country Code EntityIncorporationStateCountryCode	1T
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CY2023	dei	Entity Address Country EntityAddressCountry	GR
CY2023	dei	Security12b Title Security12bTitle	Common Stock, $0.01 par value including the Preferred Stock Purchase Rights
CY2023	dei	Trading Symbol TradingSymbol	OP
CY2023	dei	Security Exchange Name SecurityExchangeName	NASDAQ
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CY2023	dei	Entity Voluntary Filers EntityVoluntaryFilers	No
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CY2023	dei	Document Accounting Standard DocumentAccountingStandard	U.S. GAAP
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CY2023	dei	Auditor Name AuditorName	Ernst & Young (Hellas) Certified Auditors Accountants S.A.
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CY2022Q4	us-gaap	Accounts Receivable Net Current AccountsReceivableNetCurrent	4252000
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CY2022	us-gaap	Increase Decrease In Prepaid Deferred Expense And Other Assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets	666000
	us-gaap	Increase Decrease In Prepaid Deferred Expense And Other Assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets	460000
CY2023	us-gaap	Increase Decrease In Insurance Settlements Receivable IncreaseDecreaseInInsuranceSettlementsReceivable	1058000
CY2022	us-gaap	Increase Decrease In Insurance Settlements Receivable IncreaseDecreaseInInsuranceSettlementsReceivable	0
	us-gaap	Increase Decrease In Insurance Settlements Receivable IncreaseDecreaseInInsuranceSettlementsReceivable	0
CY2023	us-gaap	Increase Decrease In Deferred Charges IncreaseDecreaseInDeferredCharges	0
CY2022	us-gaap	Increase Decrease In Deferred Charges IncreaseDecreaseInDeferredCharges	-152000
	us-gaap	Increase Decrease In Deferred Charges IncreaseDecreaseInDeferredCharges	152000
CY2023	us-gaap	Increase Decrease In Accounts Payable Trade IncreaseDecreaseInAccountsPayableTrade	124000
CY2022	us-gaap	Increase Decrease In Accounts Payable Trade IncreaseDecreaseInAccountsPayableTrade	18000
	us-gaap	Increase Decrease In Accounts Payable Trade IncreaseDecreaseInAccountsPayableTrade	263000
CY2023	us-gaap	Increase Decrease In Due To Related Parties Current IncreaseDecreaseInDueToRelatedPartiesCurrent	64000
CY2022	us-gaap	Increase Decrease In Due To Related Parties Current IncreaseDecreaseInDueToRelatedPartiesCurrent	351000
	us-gaap	Increase Decrease In Due To Related Parties Current IncreaseDecreaseInDueToRelatedPartiesCurrent	59000
CY2023	us-gaap	Increase Decrease In Accrued Liabilities IncreaseDecreaseInAccruedLiabilities	-256000
CY2022	us-gaap	Increase Decrease In Accrued Liabilities IncreaseDecreaseInAccruedLiabilities	842000
	us-gaap	Increase Decrease In Accrued Liabilities IncreaseDecreaseInAccruedLiabilities	312000
CY2023	us-gaap	Increase Decrease In Deferred Revenue IncreaseDecreaseInDeferredRevenue	25000
CY2022	us-gaap	Increase Decrease In Deferred Revenue IncreaseDecreaseInDeferredRevenue	146000
	us-gaap	Increase Decrease In Deferred Revenue IncreaseDecreaseInDeferredRevenue	228000
CY2023	op	Increase Decrease In Dry Dock Costs IncreaseDecreaseInDryDockCosts	-1927000
CY2022	op	Increase Decrease In Dry Dock Costs IncreaseDecreaseInDryDockCosts	-944000
	op	Increase Decrease In Dry Dock Costs IncreaseDecreaseInDryDockCosts	0
CY2023	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	815000
CY2022	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	1513000
	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	715000
CY2023	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	4368000
CY2022	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	5094000
	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	42000
CY2023	us-gaap	Payments To Acquire Equity Method Investments PaymentsToAcquireEquityMethodInvestments	1643000
CY2022	us-gaap	Payments To Acquire Equity Method Investments PaymentsToAcquireEquityMethodInvestments	0
	us-gaap	Payments To Acquire Equity Method Investments PaymentsToAcquireEquityMethodInvestments	0
CY2023	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-6011000
CY2022	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-5094000
	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-42000
CY2023	op	Proceeds From Spin Off ProceedsFromSpinOff	0
CY2022	op	Proceeds From Spin Off ProceedsFromSpinOff	0
	op	Proceeds From Spin Off ProceedsFromSpinOff	1000000
CY2023	us-gaap	Proceeds From Issuance Of Common Stock ProceedsFromIssuanceOfCommonStock	15123000
CY2022	us-gaap	Proceeds From Issuance Of Common Stock ProceedsFromIssuanceOfCommonStock	16195000
	us-gaap	Proceeds From Issuance Of Common Stock ProceedsFromIssuanceOfCommonStock	0
CY2023	us-gaap	Proceeds From Warrant Exercises ProceedsFromWarrantExercises	27000
CY2022	us-gaap	Proceeds From Warrant Exercises ProceedsFromWarrantExercises	0
	us-gaap	Proceeds From Warrant Exercises ProceedsFromWarrantExercises	0
CY2023	us-gaap	Proceeds From Issuance Of Convertible Preferred Stock ProceedsFromIssuanceOfConvertiblePreferredStock	35000
CY2022	us-gaap	Proceeds From Issuance Of Convertible Preferred Stock ProceedsFromIssuanceOfConvertiblePreferredStock	0
	us-gaap	Proceeds From Issuance Of Convertible Preferred Stock ProceedsFromIssuanceOfConvertiblePreferredStock	0
CY2023	us-gaap	Payment Of Financing And Stock Issuance Costs PaymentOfFinancingAndStockIssuanceCosts	1513000
CY2022	us-gaap	Payment Of Financing And Stock Issuance Costs PaymentOfFinancingAndStockIssuanceCosts	1835000
	us-gaap	Payment Of Financing And Stock Issuance Costs PaymentOfFinancingAndStockIssuanceCosts	0
CY2023	op	Payments Of Ordinary Dividends Common Stock And Warrants PaymentsOfOrdinaryDividendsCommonStockAndWarrants	0
CY2022	op	Payments Of Ordinary Dividends Common Stock And Warrants PaymentsOfOrdinaryDividendsCommonStockAndWarrants	3101000
	op	Payments Of Ordinary Dividends Common Stock And Warrants PaymentsOfOrdinaryDividendsCommonStockAndWarrants	0
CY2023	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	11583000
CY2022	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	10362000
	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	1000000
CY2023	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	6387000
CY2022	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	6781000
	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	1673000
CY2022Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	8454000
CY2021Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	1673000
CY2021Q2	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	0
CY2023Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	14841000
CY2022Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	8454000
CY2021Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	1673000
CY2023Q4	us-gaap	Dividends Payable Current And Noncurrent DividendsPayableCurrentAndNoncurrent	110000
CY2022Q4	us-gaap	Dividends Payable Current And Noncurrent DividendsPayableCurrentAndNoncurrent	240000
CY2021Q4	us-gaap	Dividends Payable Current And Noncurrent DividendsPayableCurrentAndNoncurrent	0
CY2023	us-gaap	Noncash Or Part Noncash Acquisition Fixed Assets Acquired1 NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1	10000000
CY2022	us-gaap	Noncash Or Part Noncash Acquisition Fixed Assets Acquired1 NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1	17600000
	us-gaap	Noncash Or Part Noncash Acquisition Fixed Assets Acquired1 NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1	0
CY2023	op	Alternative Cashless Exercise Of Private Placement Warrants AlternativeCashlessExerciseOfPrivatePlacementWarrants	1282000
CY2022	op	Alternative Cashless Exercise Of Private Placement Warrants AlternativeCashlessExerciseOfPrivatePlacementWarrants	0
	op	Alternative Cashless Exercise Of Private Placement Warrants AlternativeCashlessExerciseOfPrivatePlacementWarrants	0
CY2023	us-gaap	Stock Issued1 StockIssued1	0
CY2022	us-gaap	Stock Issued1 StockIssued1	0
	us-gaap	Stock Issued1 StockIssued1	47084000
CY2021Q2	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	500
CY2021Q2	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	0.01
	op	Number Of Subsidiaries Acquired Through Spin Off Transaction NumberOfSubsidiariesAcquiredThroughSpinOffTransaction	3
CY2021Q2	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	500
CY2021Q4	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	1000000000
CY2021Q4	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	0.01
CY2021Q4	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	100000000
CY2021Q4	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.01
	op	Number Of Subsidiaries Acquired Through Spin Off Transaction NumberOfSubsidiariesAcquiredThroughSpinOffTransaction	3
CY2023	us-gaap	Use Of Estimates UseOfEstimates	<div style="text-align: justify; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;"><span style="font-weight: bold; font-style: italic;">b) Use of estimates: </span>The preparation of consolidated financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.</div>
CY2023Q4	us-gaap	Allowance For Doubtful Accounts Receivable Current AllowanceForDoubtfulAccountsReceivableCurrent	33000
CY2022Q4	us-gaap	Allowance For Doubtful Accounts Receivable Current AllowanceForDoubtfulAccountsReceivableCurrent	15000
CY2023	op	Number Of Vessels With Insurance Recoveries NumberOfVesselsWithInsuranceRecoveries	1
CY2023	op	Insurance Claim Recoveries InsuranceClaimRecoveries	1058000
	op	Insurance Claim Recoveries InsuranceClaimRecoveries	0
CY2022	op	Insurance Claim Recoveries InsuranceClaimRecoveries	0
CY2022	op	Loss Gain On Bunker Fuel LossGainOnBunkerFuel	-1949000
	op	Loss Gain On Bunker Fuel LossGainOnBunkerFuel	63000
CY2023	op	Historical Blended Average Year For Calculating Undiscounted Projected Net Operating Cash Flows HistoricalBlendedAverageYearForCalculatingUndiscountedProjectedNetOperatingCashFlows	P10Y
CY2023	op	Historical Blended Average Year For Calculating Undiscounted Projected Net Operating Cash Flows HistoricalBlendedAverageYearForCalculatingUndiscountedProjectedNetOperatingCashFlows	P10Y
CY2023	op	Percentage Of Assumed Vessel Utilization PercentageOfAssumedVesselUtilization	0.98
	us-gaap	Impairment Of Long Lived Assets Held For Use ImpairmentOfLongLivedAssetsHeldForUse	0
CY2023	us-gaap	Impairment Of Long Lived Assets Held For Use ImpairmentOfLongLivedAssetsHeldForUse	0
CY2022	us-gaap	Impairment Of Long Lived Assets Held For Use ImpairmentOfLongLivedAssetsHeldForUse	0
CY2023Q4	us-gaap	Property Plant And Equipment Useful Life PropertyPlantAndEquipmentUsefulLife	P25Y
CY2023	us-gaap	Concentration Risk Credit Risk ConcentrationRiskCreditRisk	<div style="text-align: justify; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;"><span style="font-weight: bold; font-style: italic;">n) Concentration of credit risk</span>: Financial instruments, which potentially subject the Company to significant concentrations of credit risk, consist principally of cash, trade accounts receivable and amounts due to/from related parties. The Company places its temporary cash investments, consisting mostly of deposits, with various qualified financial institutions and performs periodic evaluations of the relative credit standing of those financial institutions that are considered in the Company’s investment strategy. The Company limits its credit risk with accounts receivable by performing ongoing credit evaluations of its customers’ financial condition and generally does not require collateral for its accounts receivable and does not have any agreements to mitigate credit risk (Note 11).</div>
CY2023	op	Loss Gain On Bunker Fuel LossGainOnBunkerFuel	-186000
CY2023	us-gaap	Number Of Reportable Segments NumberOfReportableSegments	1
	us-gaap	Net Income Loss Attributable To Parent Diluted NetIncomeLossAttributableToParentDiluted	65000
CY2023	us-gaap	Provision For Other Credit Losses ProvisionForOtherCreditLosses	0
	us-gaap	Provision For Other Credit Losses ProvisionForOtherCreditLosses	0
CY2022	us-gaap	Provision For Other Credit Losses ProvisionForOtherCreditLosses	0
CY2023Q4	op	Deferred Offering Expenses Noncurrent DeferredOfferingExpensesNoncurrent	59000
CY2022Q4	op	Deferred Offering Expenses Noncurrent DeferredOfferingExpensesNoncurrent	376000
CY2023Q2	op	Property Plant And Equipment Scrap Rate PropertyPlantAndEquipmentScrapRate	250000
CY2023Q4	op	Property Plant And Equipment Scrap Rate PropertyPlantAndEquipmentScrapRate	400000
CY2023	op	Period For Which Historical Scrap Rates Increased PeriodForWhichHistoricalScrapRatesIncreased	P10Y
CY2023Q2	op	Property Plant And Equipment Scrap Rate PropertyPlantAndEquipmentScrapRate	250000
CY2023	op	Increase Decrease In Depreciation Expense IncreaseDecreaseInDepreciationExpense	-917000
CY2023	op	Increase Decrease In Earnings Per Share Basic IncreaseDecreaseInEarningsPerShareBasic	-0.28
CY2023	op	Increase Decrease In Earnings Per Share Diluted IncreaseDecreaseInEarningsPerShareDiluted	-0.27
CY2023	op	Maximum Pollution Coverage Per Vessel Per Incident MaximumPollutionCoveragePerVesselPerIncident	1000000000
CY2023Q4	us-gaap	Loss Contingency Estimate Of Possible Loss LossContingencyEstimateOfPossibleLoss	19000
CY2023Q4	us-gaap	Lessor Operating Lease Payments To Be Received Next Twelve Months LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths	4038000
CY2023Q4	us-gaap	Unrecorded Unconditional Purchase Obligation Balance Sheet Amount UnrecordedUnconditionalPurchaseObligationBalanceSheetAmount	2750000
CY2023Q4	us-gaap	Unrecorded Unconditional Purchase Obligation Balance On First Anniversary UnrecordedUnconditionalPurchaseObligationBalanceOnFirstAnniversary	1375000
CY2023Q4	us-gaap	Unrecorded Unconditional Purchase Obligation Balance On Second Anniversary UnrecordedUnconditionalPurchaseObligationBalanceOnSecondAnniversary	1375000
CY2021Q4	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	1000000000
CY2021Q4	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	0.01
CY2021Q4	us-gaap	Common Stock Shares Outstanding CommonStockSharesOutstanding	44101
CY2021Q4	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	44101
CY2023Q4	us-gaap	Common Stock Shares Outstanding CommonStockSharesOutstanding	7448601
CY2023Q4	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	7448601
CY2022Q4	us-gaap	Common Stock Shares Outstanding CommonStockSharesOutstanding	509200
CY2022Q4	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	509200
CY2023Q2	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	1259135
CY2023Q2	us-gaap	Common Stock Shares Outstanding CommonStockSharesOutstanding	1259135
CY2023Q1	op	Aggregate Cumulative Trading Volume Shares AggregateCumulativeTradingVolumeShares	60000000
CY2023Q1	us-gaap	Proceeds From Issuance Or Sale Of Equity ProceedsFromIssuanceOrSaleOfEquity	7619000
CY2023Q1	us-gaap	Sale Of Stock Consideration Received On Transaction SaleOfStockConsiderationReceivedOnTransaction	6699000
CY2023	op	Issuance Costs Related To Warrants IssuanceCostsRelatedToWarrants	909000
CY2023	op	Stock Issued During Period Value Cashless Exercise Of Warrants StockIssuedDuringPeriodValueCashlessExerciseOfWarrants	1282000
CY2023	us-gaap	Unrealized Gain Loss On Derivatives UnrealizedGainLossOnDerivatives	6222000
CY2022Q2	us-gaap	Common Stock Shares Outstanding CommonStockSharesOutstanding	149145
CY2022Q2	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	149145
CY2022Q2	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	149145
CY2022Q2	us-gaap	Common Stock Shares Outstanding CommonStockSharesOutstanding	149145
CY2022Q3	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	149145
CY2022Q3	us-gaap	Common Stock Shares Outstanding CommonStockSharesOutstanding	149145
CY2023Q4	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	100000000
CY2022Q4	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	100000000
CY2022Q4	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.01
CY2023Q4	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.01
CY2023	op	Beneficial Ownership Threshold Percentage BeneficialOwnershipThresholdPercentage	0.49
CY2023	op	Beneficial Ownership Threshold Percentage BeneficialOwnershipThresholdPercentage	0.49
CY2023	op	Beneficial Ownership Threshold Percentage BeneficialOwnershipThresholdPercentage	0.49
CY2023	us-gaap	Incremental Common Shares Attributable To Share Based Payment Arrangements IncrementalCommonSharesAttributableToShareBasedPaymentArrangements	0
CY2022	us-gaap	Incremental Common Shares Attributable To Share Based Payment Arrangements IncrementalCommonSharesAttributableToShareBasedPaymentArrangements	0
	us-gaap	Conversion Of Stock Shares Issued1 ConversionOfStockSharesIssued1	17277
CY2023	us-gaap	Net Income Loss NetIncomeLoss	-1977000
CY2023	us-gaap	Comprehensive Income Net Of Tax ComprehensiveIncomeNetOfTax	-1977000
CY2022	us-gaap	Comprehensive Income Net Of Tax ComprehensiveIncomeNetOfTax	-326000
CY2022	us-gaap	Net Income Loss NetIncomeLoss	-326000
	us-gaap	Net Income Loss NetIncomeLoss	134000
	us-gaap	Comprehensive Income Net Of Tax ComprehensiveIncomeNetOfTax	134000
CY2023	us-gaap	Net Income Loss Available To Common Stockholders Basic NetIncomeLossAvailableToCommonStockholdersBasic	-6707000
CY2022	us-gaap	Net Income Loss Available To Common Stockholders Basic NetIncomeLossAvailableToCommonStockholdersBasic	-2674000
	us-gaap	Net Income Loss Available To Common Stockholders Basic NetIncomeLossAvailableToCommonStockholdersBasic	65000
CY2023	us-gaap	Unrealized Gain Loss On Derivatives UnrealizedGainLossOnDerivatives	6222000
CY2022	us-gaap	Unrealized Gain Loss On Derivatives UnrealizedGainLossOnDerivatives	0
	us-gaap	Unrealized Gain Loss On Derivatives UnrealizedGainLossOnDerivatives	0
CY2023	us-gaap	Net Income Loss Attributable To Parent Diluted NetIncomeLossAttributableToParentDiluted	-12929000
CY2022	us-gaap	Net Income Loss Attributable To Parent Diluted NetIncomeLossAttributableToParentDiluted	-2674000
CY2023	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	3315519
CY2022	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	155655
	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	44101
CY2023	us-gaap	Weighted Average Number Diluted Shares Outstanding Adjustment WeightedAverageNumberDilutedSharesOutstandingAdjustment	56688
CY2022	us-gaap	Weighted Average Number Diluted Shares Outstanding Adjustment WeightedAverageNumberDilutedSharesOutstandingAdjustment	0
	us-gaap	Weighted Average Number Diluted Shares Outstanding Adjustment WeightedAverageNumberDilutedSharesOutstandingAdjustment	17277
CY2023	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	3372207
CY2022	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	155655
	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	61378
CY2023	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-2.02
CY2022	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-17.18
	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	1.47
CY2023	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	-3.83
CY2022	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	-17.18
	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	1.06
CY2023	us-gaap	Labor And Related Expense LaborAndRelatedExpense	5254000
CY2022	us-gaap	Labor And Related Expense LaborAndRelatedExpense	3770000
	us-gaap	Labor And Related Expense LaborAndRelatedExpense	248000
CY2023	op	Vessel Repair And Maintenance Expenses VesselRepairAndMaintenanceExpenses	2865000
CY2022	op	Vessel Repair And Maintenance Expenses VesselRepairAndMaintenanceExpenses	1769000
	op	Vessel Repair And Maintenance Expenses VesselRepairAndMaintenanceExpenses	19000
CY2023	op	Lubricant Expenses LubricantExpenses	638000
CY2022	op	Lubricant Expenses LubricantExpenses	415000
	op	Lubricant Expenses LubricantExpenses	31000
CY2023	us-gaap	General Insurance Expense GeneralInsuranceExpense	781000
CY2022	us-gaap	General Insurance Expense GeneralInsuranceExpense	534000
	us-gaap	General Insurance Expense GeneralInsuranceExpense	39000
CY2023	us-gaap	Taxes Excluding Income And Excise Taxes TaxesExcludingIncomeAndExciseTaxes	232000
CY2023Q4	us-gaap	Other Receivable After Allowance For Credit Loss Current Related Party Type Extensible Enumeration OtherReceivableAfterAllowanceForCreditLossCurrentRelatedPartyTypeExtensibleEnumeration	http://fasb.org/us-gaap/2023#RelatedPartyMember
CY2022Q4	us-gaap	Other Receivable After Allowance For Credit Loss Current Related Party Type Extensible Enumeration OtherReceivableAfterAllowanceForCreditLossCurrentRelatedPartyTypeExtensibleEnumeration	http://fasb.org/us-gaap/2023#RelatedPartyMember
CY2022Q4	us-gaap	Other Liability Current Related Party Type Extensible Enumeration OtherLiabilityCurrentRelatedPartyTypeExtensibleEnumeration	http://fasb.org/us-gaap/2023#RelatedPartyMember
CY2023Q4	us-gaap	Other Liability Current Related Party Type Extensible Enumeration OtherLiabilityCurrentRelatedPartyTypeExtensibleEnumeration	http://fasb.org/us-gaap/2023#RelatedPartyMember
CY2022Q4	us-gaap	Stockholders Equity Note Stock Split Conversion Ratio1 StockholdersEquityNoteStockSplitConversionRatio1	0.1
CY2022	us-gaap	Taxes Excluding Income And Excise Taxes TaxesExcludingIncomeAndExciseTaxes	151000
	us-gaap	Taxes Excluding Income And Excise Taxes TaxesExcludingIncomeAndExciseTaxes	10000
CY2023	us-gaap	Other Cost And Expense Operating OtherCostAndExpenseOperating	651000
CY2022	us-gaap	Other Cost And Expense Operating OtherCostAndExpenseOperating	241000
	us-gaap	Other Cost And Expense Operating OtherCostAndExpenseOperating	13000
CY2023	us-gaap	Operating Costs And Expenses OperatingCostsAndExpenses	10421000
CY2022	us-gaap	Operating Costs And Expenses OperatingCostsAndExpenses	6880000
	us-gaap	Operating Costs And Expenses OperatingCostsAndExpenses	360000
CY2023	op	Federal Tax Rate On Us Source Shipping Income FederalTaxRateOnUSSourceShippingIncome	0.04
CY2023	op	Percentage Of Gross Income Subject To Tax PercentageOfGrossIncomeSubjectToTax	0.50
CY2023	op	Minimum Stock Ownership Percentage For Tax Exemption MinimumStockOwnershipPercentageForTaxExemption	0.50
CY2023	op	Minimum Stock Ownership Percentage For Tax Exemption MinimumStockOwnershipPercentageForTaxExemption	0.50
CY2023	us-gaap	Concentration Risk Credit Risk Financial Instrument Maximum Exposure ConcentrationRiskCreditRiskFinancialInstrumentMaximumExposure	1640000
CY2022	us-gaap	Concentration Risk Credit Risk Financial Instrument Maximum Exposure ConcentrationRiskCreditRiskFinancialInstrumentMaximumExposure	215000
	us-gaap	Concentration Risk Credit Risk Financial Instrument Maximum Exposure ConcentrationRiskCreditRiskFinancialInstrumentMaximumExposure	811000
CY2023	dei	Amendment Flag AmendmentFlag	false
CY2023	dei	Current Fiscal Year End Date CurrentFiscalYearEndDate	--12-31
CY2023	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2023
CY2023	dei	Document Fiscal Period Focus DocumentFiscalPeriodFocus	FY
CY2023	dei	Entity Central Index Key EntityCentralIndexKey	0001869467
CY2022Q4	us-gaap	Stockholders Equity Note Stock Split Conversion Ratio1 StockholdersEquityNoteStockSplitConversionRatio1	0.1
CY2022Q4	us-gaap	Stockholders Equity Note Stock Split Conversion Ratio1 StockholdersEquityNoteStockSplitConversionRatio1	0.1
CY2023Q2	us-gaap	Stockholders Equity Note Stock Split Conversion Ratio1 StockholdersEquityNoteStockSplitConversionRatio1	0.05
CY2023Q2	us-gaap	Stockholders Equity Note Stock Split Conversion Ratio1 StockholdersEquityNoteStockSplitConversionRatio1	0.05
CY2021Q4	us-gaap	Allowance For Doubtful Accounts Receivable Current AllowanceForDoubtfulAccountsReceivableCurrent
CY2023	dei	Auditor Firm AuditorFirmId	1457
CY2023Q4	us-gaap	Commitments And Contingencies CommitmentsAndContingencies
CY2022Q4	us-gaap	Commitments And Contingencies CommitmentsAndContingencies
	us-gaap	Net Income Loss NetIncomeLoss	750983
CY2020	us-gaap	Net Income Loss NetIncomeLoss	-3795959
CY2019	us-gaap	Net Income Loss NetIncomeLoss	-1862852
	us-gaap	Depreciation Depletion And Amortization DepreciationDepletionAndAmortization	2192911
CY2020	us-gaap	Depreciation Depletion And Amortization DepreciationDepletionAndAmortization	2151977
CY2019	us-gaap	Depreciation Depletion And Amortization DepreciationDepletionAndAmortization	2479432
	us-gaap	Asset Impairment Charges AssetImpairmentCharges	0
CY2020	us-gaap	Asset Impairment Charges AssetImpairmentCharges	0
CY2019	us-gaap	Asset Impairment Charges AssetImpairmentCharges	3047978
	op	Assets Fair Value Adjustments AssetsFairValueAdjustments	0
CY2020	op	Assets Fair Value Adjustments AssetsFairValueAdjustments	200500
CY2019	op	Assets Fair Value Adjustments AssetsFairValueAdjustments	0
	us-gaap	Increase Decrease In Accounts Receivable IncreaseDecreaseInAccountsReceivable	-169243
CY2020	us-gaap	Increase Decrease In Accounts Receivable IncreaseDecreaseInAccountsReceivable	725324
CY2019	us-gaap	Increase Decrease In Accounts Receivable IncreaseDecreaseInAccountsReceivable	302696
	us-gaap	Increase Decrease In Due From Related Parties Current IncreaseDecreaseInDueFromRelatedPartiesCurrent	14418
CY2020	us-gaap	Increase Decrease In Due From Related Parties Current IncreaseDecreaseInDueFromRelatedPartiesCurrent	1167746
CY2019	us-gaap	Increase Decrease In Due From Related Parties Current IncreaseDecreaseInDueFromRelatedPartiesCurrent	1891
	us-gaap	Increase Decrease In Inventories IncreaseDecreaseInInventories	26611
CY2020	us-gaap	Increase Decrease In Inventories IncreaseDecreaseInInventories	13199
CY2019	us-gaap	Increase Decrease In Inventories IncreaseDecreaseInInventories	-392255
	us-gaap	Increase Decrease In Insurance Settlements Receivable IncreaseDecreaseInInsuranceSettlementsReceivable	-941488
CY2020	us-gaap	Increase Decrease In Insurance Settlements Receivable IncreaseDecreaseInInsuranceSettlementsReceivable	-1145969
CY2019	us-gaap	Increase Decrease In Insurance Settlements Receivable IncreaseDecreaseInInsuranceSettlementsReceivable	2078347
	us-gaap	Increase Decrease In Prepaid Expense IncreaseDecreaseInPrepaidExpense	-191097
CY2020	us-gaap	Increase Decrease In Prepaid Expense IncreaseDecreaseInPrepaidExpense	155786
CY2019	us-gaap	Increase Decrease In Prepaid Expense IncreaseDecreaseInPrepaidExpense	403488
	us-gaap	Increase Decrease In Accounts Payable Trade IncreaseDecreaseInAccountsPayableTrade	87213
CY2020	us-gaap	Increase Decrease In Accounts Payable Trade IncreaseDecreaseInAccountsPayableTrade	-47062
CY2019	us-gaap	Increase Decrease In Accounts Payable Trade IncreaseDecreaseInAccountsPayableTrade	-160921
	us-gaap	Increase Decrease In Due To Related Parties Current IncreaseDecreaseInDueToRelatedPartiesCurrent	-115280
CY2020	us-gaap	Increase Decrease In Due To Related Parties Current IncreaseDecreaseInDueToRelatedPartiesCurrent	-122741
CY2019	us-gaap	Increase Decrease In Due To Related Parties Current IncreaseDecreaseInDueToRelatedPartiesCurrent	220261
	us-gaap	Increase Decrease In Accrued Liabilities IncreaseDecreaseInAccruedLiabilities	-1125141
CY2020	us-gaap	Increase Decrease In Accrued Liabilities IncreaseDecreaseInAccruedLiabilities	1189260
CY2019	us-gaap	Increase Decrease In Accrued Liabilities IncreaseDecreaseInAccruedLiabilities	202046
	us-gaap	Increase Decrease In Deferred Revenue IncreaseDecreaseInDeferredRevenue	135080
CY2020	us-gaap	Increase Decrease In Deferred Revenue IncreaseDecreaseInDeferredRevenue	-155877
CY2019	us-gaap	Increase Decrease In Deferred Revenue IncreaseDecreaseInDeferredRevenue	-90092
	op	Increase Decrease In Dry Dock Costs IncreaseDecreaseInDryDockCosts	-5535
CY2020	op	Increase Decrease In Dry Dock Costs IncreaseDecreaseInDryDockCosts	-826180
CY2019	op	Increase Decrease In Dry Dock Costs IncreaseDecreaseInDryDockCosts	-2234
	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	3181030
CY2020	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-2723168
CY2019	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	1439451
	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	23850
CY2020	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	1474965
CY2019	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	0
	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-23850
CY2020	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-1474965
CY2019	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	0
	op	Parent Contributions Distributions Net ParentContributionsDistributionsNet	-3196728
CY2020	op	Parent Contributions Distributions Net ParentContributionsDistributionsNet	4235856
CY2019	op	Parent Contributions Distributions Net ParentContributionsDistributionsNet	-1504222
	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	-3196728
CY2020	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	4235856
CY2019	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	-1504222
	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	-39548
CY2020	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	37723
CY2019	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	-64771
CY2020Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	39638
CY2019Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	1915
CY2018Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	66686
CY2021Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	90
CY2020Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	39638
CY2019Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	1915

Files In Submission

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FilingSummary.xml	Edgar Link	unprocessable

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$OP
OceanPal Inc. Stock $op

2023 Q4 Form 20-F Financial Statement

#000114036124019755 Filed on April 15, 2024

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$OP OceanPal Inc. Stock $op

2023 Q4 Form 20-F Financial Statement

#000114036124019755 Filed on April 15, 2024

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$OP
OceanPal Inc. Stock $op