OceanPal is a Greek shipping company that rents out its four cargo ships (three dry bulk carriers and one product tanker) to haul iron ore, coal, grain, and fertilizers across global trade routes. Think of it as a trucking fleet, but for the high seas, chargin
Money comes from voyage charter revenue, but the company is burning cash — 2025 revenue was USD 0.01B against a USD 0.07B net loss, and gross margins swung negative (-9.93%) after a positive 27.61% trailing figure. With only four ships, income is lumpy and tie
Competitors like Star Bulk Carriers and Diana Shipping can rent out larger, more modern fleets, and OceanPal's aging assets carry no proprietary technology or locked-in customer relationships. With a negative net margin of -462.41% and a market cap of USD 187M
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The author believes Ethereum L2 tokens, including $OP, are experiencing wealth destruction due to ETH L1 scaling. They predict continued losses for most L2s.
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