Nasdaq-listed OceanPal invests in two methanol-ready vessels

Dry bulker shipping company OceanPal has invested in Norwegian firm RFSea Infrastructure II, which has ordered two methanol-ready chemical carriers.

PHOTO: Diana Shipping owned dry bulk carrier Melia was transferred to OceanPal fleet after spin-off. OceanPal

RFSea Infrastructure II has ordered two methanol-ready chemical tankers from China’s Wuhu Shipyard.

Methanol-ready means that the vessels will have the option to be retrofitted for methanol propulsion in the future.

The tankers will have a capacity of 6,600-dwt each. They are scheduled to be delivered in the fourth quarter of 2025 and the first quarter of 2026.

OceanPal is an independent entity spun off from its parent Greek dry bulk shipping company Diana Shipping. 

The investment marks the dry bulker provider’s foray into the chemical tanker segment. OceanPal’s chief executive, Robert Perri believes that “fundamentals will improve” in the chemical tanker segment over the next few years.

In addition, he estimates that methanol-ready tankers will be “20-25% more fuel efficient” than conventional-fuel-powered vessels.

By Konica Bhatt

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