OceanPal (OP) 6-K29 Sep 22Current report (foreign)Financial data

Company Profile

Document and Entity Information

Document and Entity Information	6 Months Ended
Document and Entity Information	Jun. 30, 2022
Document and Entity Information
Document Type	6-K
Document Period End Date	Jun. 30, 2022
Entity Registrant Name	OCEANPAL INC.
Entity Central Index Key	0001869467
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Amendment Flag	false

CONSOLIDATED BALANCE SHEET

CONSOLIDATED BALANCE SHEET $ in Thousands	Jun. 30, 2022 USD ($)
CURRENT ASSETS:
Cash and cash equivalents	$ 10,989
Accounts receivable, trade	425
Due from a related party (Note 3(c))	70
Inventories	1,796
Prepaid expenses and other assets	553
Total current assets	13,833
FIXED ASSETS:
Advances for vessel acquisitions (Note 4)	4,400
Vessels, net (Note 4)	44,082
Total fixed assets	48,482
OTHER NON-CURRENT ASSETS:
Deferred charges	810
Total assets	63,125
CURRENT LIABILITIES:
Accounts payable, trade and other	327
Due to related parties (Note 3)	210
Dividend payable to related parties	240
Accrued liabilities	1,186
Deferred revenue	244
Total current liabilities	2,207
Commitments and contingencies (Note 5)
STOCKHOLDERS' EQUITY:
Preferred stock, $0.01 par value; 100,000,000 shares authorized, 510,000 issued and outstanding as at December 31, 2021 and June 30, 2022 (Note 6)	5
Common stock, $0.01 par value; 1,000,000,000 shares authorized; 8,820,240 and 29,829,092 issued and outstanding as at December 31, 2021 and June 30, 2022, respectively (Note 6)	298
Additional paid-in capital (Notes 3(c) and 6)	60,615
Total stockholders' equity	60,918
Total liabilities and stockholders' equity	$ 63,125

CONSOLIDATED BALANCE SHEET (Par

CONSOLIDATED BALANCE SHEET (Parenthetical) - $ / shares	Jun. 30, 2022	Jun. 14, 2022	Apr. 01, 2022	Dec. 31, 2021	Nov. 30, 2021	Apr. 15, 2021
CONSOLIDATED BALANCE SHEET
Preferred stock, par value	$ 0.01			$ 0.01	$ 0.01
Preferred stock, shares authorized	100,000,000			100,000,000	100,000,000
Preferred stock, shares issued	510,000			510,000
Preferred stock, shares outstanding	510,000			510,000
Common stock, par value	$ 0.01			$ 0.01		$ 0.01
Common stock, shares authorized	1,000,000,000			1,000,000,000	1,000,000,000	500
Common stock, shares issued	29,829,092	29,829,092	29,829,092	8,820,240
Common stock, shares outstanding	29,829,092	29,829,092	29,829,092	8,820,240

UNAUDITED INTERIM CONSOLIDATED

UNAUDITED INTERIM CONSOLIDATED STATEMENTS OF OPERATIONS $ in Thousands	6 Months Ended
	Jun. 30, 2022 USD ($) $ / shares shares
REVENUES:
Time charter revenues	$ 8,246
EXPENSES:
Voyage expenses	597
Vessel operating expenses	2,936
Depreciation (Note 4)	2,024
General and administrative expenses	1,224
Management fees to related parties (Note 3)	411
Other operating income	(8)
Operating income/(loss)	1,062
Net income/(loss) and comprehensive income/(loss)	1,062
Dividends on Series C preferred stock (Note 6(c))	(471)
Dividends on Class A warrants (Note 6(e))	(868)
Net loss attributable to common stockholders	$ (277)
Loss per common share, basic (Note 7) \| $ / shares	$ (0.01)
Loss per common share, diluted (Note 7) \| $ / shares	$ (0.01)
Weighted average number of common stock, basic (Note 7) \| shares	25,691,205
Weighted average number of common stock, diluted (Note 7) \| shares	25,691,205

UNAUDITED INTERIM CONSOLIDATE_2

UNAUDITED INTERIM CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Preferred stock Series B Preferred Stock	Preferred stock Preferred stock Series C	Common stock	Additional paid-in capital	Retained Earnings	Total
Balance at the end at Jun. 30, 2021			$ 5		$ (1)	$ 4
Balance at the end (in shares) at Jun. 30, 2021			500
Balance at the beginning at Apr. 14, 2021			$ 5
Balance at the beginning (in shares) at Apr. 14, 2021			500
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income / (loss)					(1)	(1)
Balance at the end at Jun. 30, 2021			$ 5		(1)	4
Balance at the end (in shares) at Jun. 30, 2021			500
Balance at the beginning at Dec. 31, 2021	$ 5		$ 88	$ 47,991	65	48,149
Balance at the beginning (in shares) at Dec. 31, 2021	500,000	10,000	8,820,240
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income / (loss)					1,062	1,062
Issuance of 15,571,429 units (comprising from common stock or prefunded warrants and warrants) and 628,751 warrants at primary offering, net of issuance costs (Note 6(a) and 6(b))			$ 131	10,521		10,652
Issuance of 15,571,429 units (comprising from common stock or prefunded warrants and warrants) and 628,751 warrants at primary offering, net of issuance costs (Note 6(a) and 6(b)) (in shares)			13,071,429
Issuance of common stock following exercise of 4,156,000 Class A warrants and 2,500,000 prefunded warrants (Note 6(a) and 6(b))			$ 66	3,066		3,132
Issuance of common stock following exercise of 4,156,000 Class A warrants and 2,500,000 prefunded warrants (Note 6(a) and 6(b)) (in shares)			6,656,000
Issuance of 1,281,423 shares of common stock and 2,430,000 Class A warrants upon exercise of underwriters' over-allotment option (Note 6(a) and 6(b))			$ 13	881		894
Issuance of 1,281,423 shares of common stock and 2,430,000 Class A warrants upon exercise of underwriters' over-allotment option (Note 6(a) and 6(b)) (in shares)			1,281,423
Compensation on restricted stock awards (Note 6(d))				158		158
Dividends declared and paid ($0.05 per share of common stock and Class A warrant) (Note 6(e))				(1,767)	(448)	(2,215)
Dividends declared and paid ($0.01 per share of common stock and Class A warrant) (Note 6(e))					(443)	(443)
Dividends declared on series C preferred stock (Note 6(c))				(235)	$ (236)	(471)
Balance at the end at Jun. 30, 2022	$ 5		$ 298	$ 60,615		$ 60,918
Balance at the end (in shares) at Jun. 30, 2022	500,000	10,000	29,829,092

UNAUDITED INTERIM CONSOLIDATE_3

UNAUDITED INTERIM CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Parenthetical)	6 Months Ended
	Jun. 30, 2022 $ / shares shares
Common stock
Common stock dividends per share declared \| $ / shares	$ 0.01
Stock Issued During Period Share On Warrants And Underwriters Over Allotment Option	1,281,423
Common stock \| Underwritten Primary Offering
Units Issued During Period	15,571,429
Warrants Issued During Period	628,751
Common stock \| Over-Allotment Option
Stock Issued During Period, Shares, New Issues	1,281,423
Pre-funded warrants
Number of warrants exercised	2,500,000
Class A Warrants
Number of warrants exercised	4,156,000
Class A Warrants \| Over-Allotment Option
Warrants Issued During Period	2,430,000
Common Stock Per Share 0.01 and Class A Warrant [Member]
Common stock dividends per share declared \| $ / shares	$ 0.01
Common Stock Per Share 0.05 and Class A Warrant [Member]
Common stock dividends per share declared \| $ / shares	$ 0.05

UNAUDITED INTERIM CONSOLIDATE_4

UNAUDITED INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS $ in Thousands	6 Months Ended
	Jun. 30, 2022 USD ($)
Cash Flows provided by / (used in) Operating Activities:
Net income / (loss)	$ 1,062
Adjustments to reconcile net income / (loss) to net cash from operating activities:
Depreciation (Note 4)	2,024
Compensation cost on restricted stock awards (Note 6 (d))	158
(Increase) / Decrease in:
Accounts receivable, trade	386
Inventories	(1,610)
Prepaid expenses and other assets	(93)
Deferred charges	(658)
Increase / (Decrease) in:
Accounts payable, trade and other	64
Due to related parties (Note 3)	151
Accrued liabilities	874
Deferred revenue	16
Net cash provided by / (used in) Operating Activities	2,374
Cash Flows used in Investing Activities:
Payments for vessel improvements and vessel acquisitions (Note 4)	(4,778)
Net cash used in Investing Activities	(4,778)
Cash Flows provided by Financing Activities:
Proceeds from issuance of units (comprising from common stock or prefunded warrants and warrants), issuance of common stock and warrants and exercise of warrants, net of underwriters' fees and commissions (Note 6(a))	14,678
Payments of dividends on common stockholders and Class A warrant holders (Note 6(e))	(2,658)
Payments of dividends on Series C preferred Stock (Note 6(c))	(300)
Net cash provided by Financing Activities	11,720
Net increase in cash and cash equivalents	9,316
Cash and cash equivalents at beginning of the year/period	1,673
Cash and cash equivalents at end of the period	10,989
Non-cash financing activities:
Dividends declared, not paid (Note 6(c))	$ (240)

Basis of Presentation and Gener

Basis of Presentation and General Information	6 Months Ended
Basis of Presentation and General Information	Jun. 30, 2022
Basis of Presentation and General Information
Basis of Presentation and General Information	1.Basis of Presentation and General Information The accompanying unaudited interim consolidated financial statements include the accounts of OceanPal Inc. (the ‘‘Company”, or “OceanPal”, or “OP”), and its wholly-owned subsidiaries (collectively, the “Company”). OP was incorporated by Diana Shipping Inc. (“Diana Shipping” or “DSI”) on April 15, 2021 under the laws of the Republic of the Marshall Islands, having a share capital of 500 shares, par value $0.01 per share, issued to DSI (Note 3 (c)). In November 2021, the Company’s articles of incorporation and bylaws were amended. Under the amended articles of incorporation, the Company’s authorized share capital increased from 500 common shares to 1,000,000,000 shares of common stock at par value $0.01 and 100,000,000 preferred stock at par value $0.01. On June 24, 2021, OP filed a confidential registration statement on Form 20-F with the US Securities and Exchange Commission pursuant to the Securities Exchange Act of 1934, to effect a spin-off of three of DSI’s vessel owning subsidiaries together with working capital in exchange of common and preferred stock to DSI and its’ shareholders (the “Spin-Off”) (Note 3 (c)). On November 29, 2021 the registration statement was declared effective. On November 30, 2021, OP began “regular way” trading on the Nasdaq Global Market under the ticker symbol “OP”. The accompanying unaudited interim consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles, or U.S. GAAP, for interim financial information. Accordingly, they do not include all the information and notes required by U.S. GAAP for complete financial statements. These unaudited interim consolidated financial statements have been prepared on the same basis and should be read in conjunction with the financial statements for the period from inception (April 15, 2021) through December 31, 2021 included in the Company’s Annual Report on Form 20-F filed with the Securities and Exchange Commission on April 6, 2022 and, in the opinion of management, reflect all adjustments, which include only normal recurring adjustments considered necessary for a fair presentation of the Company’s financial position, results of operations and cash flows for the periods presented. Operating results for the six month period ended June 30, 2022 are not necessarily indicative of the results that might be expected for the fiscal year ending December 31, 2022. The comparative unaudited interim consolidated financial statements have been presented for the period from inception (April 15, 2021) through June 30, 2021. They include only the accounts of OceanPal Inc. from inception date April 15, 2021 through June 30, 2021, as the accounts of the Company’s wholly-owned subsidiaries have been consolidated from November 30, 2021 (i.e. upon the Spin-Off consummation and the acquisition of the three ship-owning subsidiaries by the Company) when the operation of the Company’s vessels started. Operations prior to the November The consolidated balance sheet as of December 31, 2021 has been derived from the audited consolidated financial statements at that date, but does not include all of the information and footnotes required by U.S. GAAP for complete financial statements. The Company is engaged in the ocean transportation of cargoes worldwide through the ownership and operation of vessels. Each of the vessels is owned through a separate wholly-owned subsidiary. The Company is the sole owner of all outstanding shares of the following subsidiaries: ● Cypres Enterprises Corp., a company incorporated in the Republic of Panama on September 7, 2000, owner of the 2004 built Panamax dry bulk carrier Protefs (Note 3 (c)), ● Darien Compania Armadora S.A., a company incorporated in the Republic of Panama on December 22, 1993, owner of the 2005 built Panamax dry bulk carrier Calipso (Note 3 (c)), ● Marfort Navigation Company Limited, a company incorporated in the Republic of Cyprus on August 10, 2007, owner of the 2005 built Capesize dry bulk carrier Salt Lake City (Note 3 (c)), and ● Darrit Shipping Company Inc., a company incorporated in the Republic of the Marshall islands on June 02, 2022, for the purposes of acquiring the 2005 built Capesize dry bulk carrier Baltimore (Note 4 and 9(d)). The Company operates its own fleet through Diana Wilhelmsen Management Limited (or “DWM”) (Note 3(a)) and Steamship Shipbroking Enterprises Inc. (or “Steamship”) (Note 3(b)). Uncertainties caused by the COVID-19 pandemic and the Russo-Ukrainian conflict: Additionally, the recent conflict between Russia and the Ukraine, since February 2022, has disrupted supply chains and caused instability in the energy markets and the global economy, which have experienced significant volatility. Several countries announced sanctions against Russia, including sanctions targeting the Russian oil sector, among those a prohibition on the import of oil and coal from Russia, and may impose wider sanctions and take other actions in the future. To date, no apparent consequences have been identified on the Company’s business, or counterparties, by COVID-19 and the conflict in Ukraine and their implications. Currently, none of the Company’s contracts have been affected by the events in Russia and Ukraine. Given the dynamic nature of these circumstances, and as volatility continues, the full extent to which the COVID-19 global pandemic and/or the Russo-Ukrainian war may have direct or indirect impact on the industry and on the Company’s business is difficult to be predicted, whereas it is possible that in the future third parties with whom the Company has or will have contracts may be impacted by such events and sanctions. The related financial reporting implications cannot be reasonably estimated at this time, although they could materially affect the Company’s business, results of operations and financial condition in the future. As a result, many of the Company’s estimates and assumptions carry a higher degree of variability and volatility. As events continue to evolve and additional information becomes available, the Company’s estimates may change in future periods. The overall impact on the Company’s business, and the efficacy of any measures the Company takes in response to the challenges presented by these geopolitical events, will depend on how those events will further develop, the duration and extent of the restrictive measures that are associated with such events and their impact on global economy and trade, which is still uncertain. The Company is constantly monitoring the developing situation, as well as its charterers’ and other counterparties’ response to the market and continuously evaluates the effect on its operations.

Significant Accounting Policies

Significant Accounting Policies - Recent Accounting Pronouncements	6 Months Ended
	Jun. 30, 2022
Significant Accounting Policies - Recent Accounting Pronouncements
Significant Accounting Policies - Recent Accounting Pronouncements	2.Significant Accounting Policies – Recent Accounting Pronouncements A discussion of the Company’s significant accounting policies can be found in the audited consolidated financial statements for the period from inception (April 15, 2021) through December 31, 2021, as filed on Form 20-F on April 6, 2022. There have been no material changes to these policies in the six month period ended June 30, 2022, except for as discussed below: Significant accounting policies: a) Distinguishing liabilities from equity: The Company follows the provisions of ASC 480 “Distinguishing liabilities from equity” to determine the classification of certain freestanding financial instruments as either liabilities or equity. The Company in its assessment for the accounting of the Class A and the prefunded warrants issued in connection with the January 2022 underwritten public offering (Note 6), has taken into consideration ASC 480 “Distinguishing liabilities from equity” and determined that the aforementioned warrants are out of the scope of ASC 480, hence should be classified as equity instead of liability. The Company further analyzed key features of the warrants to determine whether these are more akin to equity or to debt and concluded that the warrants are equity-like. In its assessment, the Company identified certain embedded features, examined whether these fall under the definition of a derivative according to ASC 815 applicable guidance or whether certain of these features affected the classification. Derivative accounting was deemed inappropriate and thus no bifurcation of these features was performed. Upon exercise of the warrants, the holder is entitled to receive common shares. b) Share Based Payments: The Company issues restricted share awards which are measured at their grant date fair value and are not subsequently re-measured. That cost is recognized over the period during which an employee is required to provide service in exchange for the award—the requisite service period (usually the vesting period). No compensation cost is recognized for equity instruments for which employees do not render the requisite service. Forfeitures of awards are accounted for when and if they occur. If an equity award is modified after the grant date, incremental compensation cost will be recognized in an amount equal to the excess of the fair value of the modified award over the fair value of the original award immediately before the modification.

Transactions with related parti

Transactions with related parties	6 Months Ended
Transactions with related parties	Jun. 30, 2022
Transactions with related parties
Transactions with related parties	3.Transactions with related parties a)Diana Wilhelmsen Management Limited, or DWM: b)Steamship Shipbroking Enterprises Inc. or Steamship: c)Diana Shipping Inc., or DSI: not Pursuant to the Contribution and Conveyance agreement dated on November 8, 2021, as amended and restated on November 17, 2021, entered between the Company and DSI, DSI has indemnified the Company and the three vessel-owning subsidiaries discussed in Note 1 above for any and all obligations and other liabilities arising from or relating to the operation, management or employment of the Company’s vessels prior to the effective date of the Spin-Off (November 29, 2021). Additionally, pursuant to a Right of First Refusal agreement entered with DSI, dated November 8, 2021, the Company has been granted a right of first refusal over six identified drybulk carriers owned by DSI, effective as of the consummation of the Spin-Off. According to this right of first refusal, the Company has the right, but not the obligation, to purchase one or all of the six identified vessels when and if DSI determines to sell the vessels at fair market value at the time of sale. Pursuant to this right of first refusal, the Company, through one newly wholly-owned subsidiary, entered on June 13, 2022 into a Memorandum of Agreement with DSI, to acquire the Capesize M/V Baltimore. (Note 4 and 9(d)). Furthermore, the Company as of November 2, 2021, has entered into a Non-Competition agreement with DSI pursuant to which DSI has agreed not to compete with the Company for vessel acquisition or chartering opportunities to the extent that such acquisition or chartering opportunities are suitable for the Company or one of the Company’s vessels. The Spin-Off was accounted for at fair values. The aggregate fair value of $46,040 of the three vessels contributed to the Company on November 29, 2021, was determined through Level 2 inputs of the fair value hierarchy by taking into consideration third party valuations which were based on the last done deals of sale of vessels with similar characteristics, such as type, size and age at the specific dates (Note 4). The fair value of other assets contributed to the Company, mainly comprising from lubricating oils and bunkers, approximated their respective carrying value. Series B preferred Stock, which has no economic interest, is recorded at par amounting to $5 and Series C preferred Stock has been recorded at a fair value of $7,570 determined based on valuation obtained by an independent third party for the purposes of the Spin-Off. As of June 30, 2022 and December 31, 2021, there was an amount of $70 and $70, respectively, due from DSI, included in “Due from a related party” in the accompanying consolidated balance sheets, resulting from amounts paid or received by DSI on behalf of OceanPal up to the date of the contribution.

Advances for vessel acquisition

Advances for vessel acquisitions and Vessels, net	6 Months Ended
Advances for vessel acquisitions and Vessels, net	Jun. 30, 2022
Advances for vessel acquisitions and Vessels, net
Advances for vessel acquisitions and Vessels, net	4.Advances for vessel acquisitions and Vessels, net Vessel Acquisition On June 13, 2022, the Company signed, through its wholly-owned subsidiary Darrit Shipping Company Inc., a Memorandum of Agreement, as amended, to acquire from DSI, a Capesize dry bulk vessel, the m/v Baltimore, of 177,243 dwt, for a purchase price of $22,000. Of the purchase price, 20% or $4,400 was paid in cash upon signing of the Memorandum of Agreement and is included in Advances for vessel acquisitions in the accompanying unaudited interim consolidated balance sheet as of June 30, 2022. The vessel was delivered to the Company on September 20, 2022 and the Company paid the balance of the purchase price in shares of its newly issued Series D preferred stock, the terms of which were mutually agreed between the Company and DSI Note 9(d)). The purchase of this vessel was made pursuant to the Company’s exercise of a right of first refusal granted to the Company by DSI on six identified vessels based on an agreement dated November 8, 2021 (Note 3(c)). The acquisition of the vessel was approved by a committee of independent members of the Company’s Board of Directors. Vessels’ contribution On November 29, 2021, entities Cypres Enterprises Corp., Darien Compania Armadora S.A., and Marfort Navigation Company Limited, whose substantially all assets were vessels Protefs, Calipso and Salt Lake City, respectively, were contributed to the Company by Diana Shipping in connection with the Spin-Off (Note 3(c)). Vessel improvements Vessel improvements mainly relate to the implementation of ballast water treatment and other works necessary for the vessels to comply with new regulations and be able to navigate to additional ports. During the period ended December 31, 2021, and June 30, 2022, the additions to vessels’ cost amounted to $42 and $378, respectively. The amounts reflected in Vessels, net in the accompanying consolidated balance sheets are analyzed as follows: Vessel Cost Accumulated Depreciation Net Book Value Balance, December 31, 2021 $ 46,082 $ (354) $ 45,728 -Additions for improvements 378 — 378 - Depreciation for the period — (2,024) (2,024) Balance, June 30, 2022 $ 46,460 $ (2,378) $ 44,082

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
Commitments and Contingencies	Jun. 30, 2022
Commitments and Contingencies.
Commitments and Contingencies	5.Commitments and Contingencies a) b) c)

Capital Stock and Changes in Ca

Capital Stock and Changes in Capital Accounts	6 Months Ended
Capital Stock and Changes in Capital Accounts	Jun. 30, 2022
Capital Stock and Changes in Capital Accounts
Capital Stock and Changes in Capital Accounts	6.Capital Stock and Changes in Capital Accounts (a) Common Stock i) Receipt of Nasdaq Notice: On March 8, 2022, the Company received a written notification from Nasdaq indicating that because the closing bid price of the Company’s common shares for 30 consecutive business days, i.e. from January 21, 2022 to March 7, 2022, was below the minimum $1.00 per share bid price requirement for continued listing on the Nasdaq, the Company was not in compliance with Nasdaq Listing Rule 5550(a)(2). Pursuant to Nasdaq Listing Rule 5810(c)(3)(A), the original applicable grace period to regain compliance was 180 days , or until September 5, 2022. On September 6, 2022, the Company was granted an additional 180 - day period from the Nasdaq Stock Market, through March 6, 2023, to regain compliance with the $1.00 minimum bid price requirement for continued listing on the Nasdaq Capital Market. The Company can cure this deficiency if the closing bid price of its common stock is $1.00 per share or higher for at least ten consecutive business days during the grace period. During this time, the Company’s common stock will continue to be listed and trade on the Nasdaq (Note 9(c)). At the Company’s 2022 Annual Meeting of Shareholders held on April 5, 2022, it was approved by the Company’s shareholders that, subject to approval and implementation by the Company’s board of directors, the Company may effect one or more reverse stock splits on its issued shares of common stock, each at a ratio of not less than one-for-two and not more than one-for-10 and in the aggregate at a ratio of not more than one-for-40. ii) Underwritten Public Offering: On January 12, 2022, the Company filed with the SEC a registration statement on Form F-1, which was declared effective on January 20, 2022. On January 25, 2022, the Company closed an underwritten public offering of 15,571,429 units at a price of $0.77 per unit, each unit consisting of one share of the Company’s common stock (or one pre-funded warrant in lieu of one share of the Company’s common stock) and one Class A warrant to purchase one share of the Company’s common stock and was immediately separated upon issuance. In particular, upon the closing of the offering, 13,071,429 shares of common stock, 2,500,000 prefunded warrants to purchase one share of common stock, and 15,571,429 Class A warrants to purchase one share of common stock were sold. In addition, the Company had previously agreed with certain of its’ executive officers and significant shareholders (the “selling shareholders”) to register their resale of shares of common stock, whereas an aggregate of 1,777,148 shares of common stock for certain of the selling shareholders were registered in connection with the January 2022 offering. As such, certain selling shareholders sold an aggregate of 628,571 shares of common stock in the offering. Each of the 628,751 shares of common stock sold by the selling shareholders on the primary offering was delivered to the underwriters with one additional Class A warrant to purchase one share of common stock (sold by the Company), on a firm commitment basis. In addition, the underwriter for the offering fully-exercised its option to purchase an additional 1,148,577 common shares sold from the selling shareholders and 1,281,423 common shares along with 2,430,000 Class A warrants sold from the Company (Note 6(b)). Each of the 1,148,577 shares of common stock sold by the selling shareholders upon exercise of the underwriters’ over-allotment option, was sold with one Class A warrant (sold by the Company) to purchase one share of common stock, on a firm commitment basis. The Company did not receive any of the proceeds from the sale of common shares by the selling shareholders and only received the proceeds for the class A warrants sold together with the selling shareholders’ shares of common stock (i.e. 1,777,148 class A warrants in aggregate). As at June 30, 2022, following also the exercise of 4,156,000 Class A warrants and all prefunded warrants, discussed in Note 6(b) below, the Company’s issued and outstanding (b) Warrants: five years (c) Series C Preferred Stock: annum, and is convertible into common shares at the holders’ option commencing upon the first anniversary of the original issue date, at a conversion price equal to the lesser of $6.50 and the 10-trading day trailing VWAP of the common shares, subject to certain adjustments or at any time after the issuance date in case of any fundamental change (i.e. liquidation, change of control, dissolution or winding up of the affairs of the Company). DSI however, is prohibited from converting the Series C Preferred Stock into common shares to the extent that, as a result of such conversion, DSI (together with its affiliates) would beneficially own more than 49% of the total outstanding common shares of the Company. For the six month period ended June 30, 2022 dividends declared and dividends paid on Series C preferred stock amounted to $471 and $300, respectively (Note 9(a)). No dividends were declared during the period from inception (April 15, 2021) through June 30, 2021. (d) Equity Incentive Plan: (e) Dividend to common stock and Class A warrants’ holders: outstanding On May 30, 2022, the Company’s Board of Directors declared a cash dividend of $0.01 per share for the first quarter ended March 31, 2022, to its’ common stock holders of record June 14, 2022. The Company had 29,829,092 shares of common stock issued and outstanding

Loss per Share

Loss per Share	6 Months Ended
Loss per Share	Jun. 30, 2022
Loss per Share
Loss per Share	7.Loss per Share All common stock issued (including any restricted shares issued under the Company’s equity incentive plan, or else) are the Company’s common stock and have equal rights to vote and participate in dividends, subject to forfeiture provisions as set forth in the respective stock award agreements, as applicable. Furthermore, Class A warrants are entitled to receive dividends which are not refundable, and therefore are considered participating securities for basic earnings per share calculation purposes. Class A warrants do not participate in losses. For the six month period ended June 30, 2022, the Company declared and paid aggregate cash dividends to its common and Class A warrants’ holders of $1,790 and $868, respectively. No dividends were declared during the period from inception (April 15, 2021) through June 30, 2021. For the six month period ended June 30, 2022, the calculation of basic earnings/(loss) per share does not treat the non-vested shares (not considered participating securities) as outstanding until the time/service-based vesting restriction has lapsed. Incremental shares are the number of shares assumed issued under the treasury stock method weighted for the periods the non-vested shares were outstanding. The computation of diluted earnings per share reflects the potential dilution from conversion of outstanding Series C preferred convertible stock calculated with the “if converted” method. The dilutive effect of share-based compensation arrangements (following assumed conversion of Series C preferred stock to common under the “if converted method”) and Class A warrants is computed using the treasury stock method, which assumes that the “proceeds” upon exercise of these awards or warrants are used to purchase common shares at the average market price for the period. No incremental shares were calculated from the application of the treasury stock method for i) the Class A warrants and ii) the share-based compensation arrangements (following assumed conversion of Series C preferred stock to common under the “if converted method”) and the “if converted” method for the Series C convertible preferred stock as the Company incurred losses and the effect of such shares was anti-dilutive. There were no dilutive shares for the period from inception (April 15, 2021) through June 30, 2021. Also, loss attributable to common equity holders is adjusted by the amount of dividends on Series C Preferred Stock and dividends on Class A warrants as follows: From April 15 2021 through June 30, 2022 June 30, 2021 Net income/(loss) $ 1,062 $ (1) Less dividends on series C preferred stock (471) — Less dividends on Class A warrants (868) — Net loss attributed to common stockholders $ (277) $ (1) Weighted average number of common stock, basic 25,691,205 500 Weighted average number of common stock, diluted 25,691,205 500 Loss per share, basic $ (0.01) $ (2) Loss per share, diluted $ (0.01) $ (2)

Financial Instruments and Fair

Financial Instruments and Fair Value Disclosures	6 Months Ended
Financial Instruments and Fair Value Disclosures	Jun. 30, 2022
Financial Instruments and Fair Value Disclosures
Financial Instruments and Fair Value Disclosures	8.Financial Instruments and Fair Value Disclosures Concentration of credit risk: For the six month period ended June 30, 2022, charterers that individually accounted for 10% or more of the Company’s time charter revenues were as follows: Charterer June 30, 2022 A 32 % B 25 % C 22 % The maximum aggregate amount of loss due to credit risk that the Company would incur if the aforementioned charterers failed completely to perform according to the terms of the relevant time charter parties, amounted to $214 as of June 30, 2022. Fair value of assets and liabilities:

Subsequent Events

Subsequent Events	6 Months Ended
Subsequent Events	Jun. 30, 2022
Subsequent Events
Subsequent Events	9.Subsequent Events (a) Series C Preferred Stock Dividend: On July 14, 2022, the Company paid a dividend on its Series C preferred stock, amounting to $240 . On September 19, 2022, the Company’s Board of Directors declared a cash dividend of $240 to the Company’s Series C preferred stock holders for the period from July 15, 2022 to October 14, 2022, which is payable on October 17, 2022. (b) Dividend to common stock and Class A warrants’ holders: On July 27, 2022, the Company’s Board of Directors declared a cash dividend of $0.01 per share for the second quarter ended June 30, 2022, to its’ common stock holders of record August 12, 2022. The Company had 29,829,092 shares of common stock issued and outstanding on the record date (August 12, 2022). Holders of the Company’s Class A warrants as of August 12, 2022 received a cash payment in the amount of $0.01 for each common share that such holder would be entitled to receive upon exercise of their Class A Warrants. As of record date August 12, 2022, there were Class A Warrants exercisable for an aggregate of 14,474,000 common shares. On August 31, 2022, the Company paid a dividend of $299 on common stock and of $144 on Class A warrants holders of record August 12, 2022, amounting to $443 in aggregate. (c) Receipt of Nasdaq Notice: On September 6, 2022, the Company was granted an additional 180 - day period from the Nasdaq Stock Market, through March 6, 2023, to regain compliance with the $1.00 minimum bid price requirement for continued listing on the Nasdaq Capital Market. The Company can cure this deficiency if the closing bid price of its common stock is $1.00 per share or higher for at least ten consecutive business days during the grace period. During this time, the Company’s common stock will continue to be listed and trade on the Nasdaq Capital Market. (d) Vessel Delivery and Issuance of Preferred Stock: On September 20, 2022, the Company took delivery of the M/V Baltimore. On September 21, 2022 the Company paid the remaining of the purchase price (i.e. $17,600 ) in 25,000 shares of its newly issued 7.0% Series D convertible perpetual preferred shares. The Series preferred stock has a cumulative preferred dividend accruing at the rate of 7.0% per annum, contains a $1,000 liquidation preference and is convertible into common shares at any time at the holder’s option commencing upon the first anniversary of the original issue date, at a conversion price equal to the 10 - trading day trailing VWAP of the Company’s common shares, subject to certain adjustments. As part of this transaction, the Company also entered into an agreement with Diana Shipping, providing the right to Diana Shipping to request that the Company effects a listing of the Series D Preferred Stock, provided that Diana Shipping then owns at least a majority of the outstanding shares of the Company’s Series D Preferred Stock. This listing right expires upon the earlier of (i) the date on which Diana Shipping is no longer the registered owner of any shares of the Company’s Series D Preferred Stock and (ii) the second anniversary of September 21, 2022 (original issuance date of Series D Preferred Stock). (e) Series D Preferred Stock Dividend: On September 27, 2022, the Company’s Board of Directors declared a cash dividend of $ 117 to the Company’s Series D preferred stock holders for the period from September 21, 2022 to October 14, 2022, which is payable on October 17, 2022.

Significant Accounting Polici_2

Significant Accounting Policies - Recent Accounting Pronouncements (Policies)	6 Months Ended
	Jun. 30, 2022
Significant Accounting Policies - Recent Accounting Pronouncements
Distinguishing liabilities from equity	a) Distinguishing liabilities from equity: The Company follows the provisions of ASC 480 “Distinguishing liabilities from equity” to determine the classification of certain freestanding financial instruments as either liabilities or equity. The Company in its assessment for the accounting of the Class A and the prefunded warrants issued in connection with the January 2022 underwritten public offering (Note 6), has taken into consideration ASC 480 “Distinguishing liabilities from equity” and determined that the aforementioned warrants are out of the scope of ASC 480, hence should be classified as equity instead of liability. The Company further analyzed key features of the warrants to determine whether these are more akin to equity or to debt and concluded that the warrants are equity-like. In its assessment, the Company identified certain embedded features, examined whether these fall under the definition of a derivative according to ASC 815 applicable guidance or whether certain of these features affected the classification. Derivative accounting was deemed inappropriate and thus no bifurcation of these features was performed. Upon exercise of the warrants, the holder is entitled to receive common shares.
Share Based Payments	b) Share Based Payments: The Company issues restricted share awards which are measured at their grant date fair value and are not subsequently re-measured. That cost is recognized over the period during which an employee is required to provide service in exchange for the award—the requisite service period (usually the vesting period). No compensation cost is recognized for equity instruments for which employees do not render the requisite service. Forfeitures of awards are accounted for when and if they occur. If an equity award is modified after the grant date, incremental compensation cost will be recognized in an amount equal to the excess of the fair value of the modified award over the fair value of the original award immediately before the modification.

Advances for vessel acquisiti_2

Advances for vessel acquisitions and Vessels, net (Tables)	6 Months Ended
Advances for vessel acquisitions and Vessels, net (Tables)	Jun. 30, 2022
Advances for vessel acquisitions and Vessels, net
Summary of vessels, net	Vessel Cost Accumulated Depreciation Net Book Value Balance, December 31, 2021 $ 46,082 $ (354) $ 45,728 -Additions for improvements 378 — 378 - Depreciation for the period — (2,024) (2,024) Balance, June 30, 2022 $ 46,460 $ (2,378) $ 44,082

Loss per Share (Tables)

Loss per Share (Tables)	6 Months Ended
Loss per Share (Tables)	Jun. 30, 2022
Loss per Share
Summary of profit or loss attributable to common equity holders adjusted by the amount of dividends on Series C Preferred Stock and dividends on Class A warrants	From April 15 2021 through June 30, 2022 June 30, 2021 Net income/(loss) $ 1,062 $ (1) Less dividends on series C preferred stock (471) — Less dividends on Class A warrants (868) — Net loss attributed to common stockholders $ (277) $ (1) Weighted average number of common stock, basic 25,691,205 500 Weighted average number of common stock, diluted 25,691,205 500 Loss per share, basic $ (0.01) $ (2) Loss per share, diluted $ (0.01) $ (2)

Financial Instruments and Fai_2

Financial Instruments and Fair Value Disclosures (Tables)	6 Months Ended
Financial Instruments and Fair Value Disclosures (Tables)	Jun. 30, 2022
Financial Instruments and Fair Value Disclosures
Summary of charterers that individually accounted for 10% or more of the Company's time charter revenues	Charterer June 30, 2022 A 32 % B 25 % C 22 %

Basis of Presentation and Gen_2

Basis of Presentation and General Information (Details)	6 Months Ended
Basis of Presentation and General Information (Details)	Jun. 30, 2022 subsidiary $ / shares shares	Dec. 31, 2021 $ / shares shares	Nov. 30, 2021 $ / shares shares	Apr. 15, 2021 $ / shares shares
Related Party Transaction [Line Items]
Common Stock, Shares Authorized \| shares	1,000,000,000	1,000,000,000	1,000,000,000	500
Common stock, par value \| $ / shares	$ 0.01	$ 0.01		$ 0.01
Preferred Stock, Shares Authorized \| shares	100,000,000	100,000,000	100,000,000
Preferred stock, par value \| $ / shares	$ 0.01	$ 0.01	$ 0.01
Diana Shipping Inc
Related Party Transaction [Line Items]
Number of subsidiaries acquired through spin-off transaction \| subsidiary	3

Transactions with related par_2

Transactions with related parties - DWM (Details) - USD ($)			3 Months Ended	6 Months Ended
Transactions with related parties - DWM (Details) - USD ($)	Mar. 01, 2022	Nov. 29, 2021	Jun. 30, 2021	Jun. 30, 2022	Dec. 31, 2021
Related Party Transaction [Line Items]
Management fees				$ 411,000
Due to related parties				210,000	$ 59,000
Diana Wilhelmsen Management Limited \| Management fees to related party
Related Party Transaction [Line Items]
Management fees				342,000
Diana Wilhelmsen Management Limited \| Voyage expenses
Related Party Transaction [Line Items]
Management fees				102,000
Diana Wilhelmsen Management Limited \| Management services
Related Party Transaction [Line Items]
Variable fee on hire and on freight		1.25%
Threshold term for termination of agreement with prior written notice		3 months
Management fees			$ 0	444,000
Due to related parties				$ 2,000	$ 6,000
Diana Wilhelmsen Management Limited \| Monthly fee if vessel is employed or available for employment
Related Party Transaction [Line Items]
Management fees	$ 18,500
Diana Wilhelmsen Management Limited \| Monthly fee if vessel is employed or available for employment \| Management services
Related Party Transaction [Line Items]
Amount agreed to be paid for each vessel		$ 20,000
Diana Wilhelmsen Management Limited \| Monthly fee if vessel is laid-up and not available for employment for at least 15 calendar days of such month
Related Party Transaction [Line Items]
Management fees	$ 9,250
Diana Wilhelmsen Management Limited \| Monthly fee if vessel is laid-up and not available for employment for at least 15 calendar days of such month \| Management services
Related Party Transaction [Line Items]
Amount agreed to be paid for each vessel		$ 10,000

Transactions with related par_3

Transactions with related parties - Steamship (Details) - USD ($)		3 Months Ended	6 Months Ended
	Nov. 29, 2021	Jun. 30, 2021	Jun. 30, 2022	Dec. 31, 2021
Related Party Transaction [Line Items]
Management fees to related parties (Note 3)			$ 411,000
Due to related parties (Note 3)			210,000	$ 59,000
Steamship Shipbroking Enterprises Inc
Related Party Transaction [Line Items]
Monthly fee, brokerage service agreement	$ 95,000
Variable fee on hire and on freight	2.50%
Management fees to related parties (Note 3)		$ 0	774,000
Due to related parties (Note 3)			155,000	$ 33,000
Steamship Shipbroking Enterprises Inc \| Management fees to related parties
Related Party Transaction [Line Items]
Management fees to related parties (Note 3)		$ 0	70,000
Steamship Shipbroking Enterprises Inc \| General and Administrative Expense [Member]
Related Party Transaction [Line Items]
Management fees to related parties (Note 3)			570,000
Steamship Shipbroking Enterprises Inc \| Voyage expenses
Related Party Transaction [Line Items]
Management fees to related parties (Note 3)			$ 204,000
Steamship Shipbroking Enterprises Inc \| Management agreement
Related Party Transaction [Line Items]
Threshold term for termination of agreement with prior written notice	3 months
Steamship Shipbroking Enterprises Inc \| Management agreement \| Monthly fee if vessel is employed or available for employment
Related Party Transaction [Line Items]
Amount agreed to be paid for each vessel	$ 500
Steamship Shipbroking Enterprises Inc \| Management agreement \| Monthly fee if vessel is laid-up and not available for employment for at least 15 calendar days of such month
Related Party Transaction [Line Items]
Amount agreed to be paid for each vessel	$ 250
Steamship Shipbroking Enterprises Inc \| Administrative services agreement
Related Party Transaction [Line Items]
Threshold term for termination of agreement with prior written notice	30 days
Monthly fee, administrative service agreement	$ 10,000

Transactions with related par_4

Transactions with related parties - DSI (Details) $ in Thousands	Nov. 29, 2021 USD ($) subsidiary shares	Nov. 08, 2021 item subsidiary	Jun. 30, 2022 USD ($) shares	Dec. 31, 2021 USD ($) shares	Nov. 03, 2021 shares
Related Party Transaction [Line Items]
Preferred stock, shares issued \| shares			510,000	510,000
Due from a related party (Note 3(c))			$ 70	$ 70
Preferred stock Series C
Related Party Transaction [Line Items]
Preferred stock, shares issued \| shares			10,000	10,000
Diana Shipping Inc
Related Party Transaction [Line Items]
Number of vessel-owning subsidiaries contributed \| subsidiary	3
Working capital contributed	$ 1,000
Right of first refusal over number of drybulk carriers \| item		6
Aggregate fair value of vessels	$ 46,040
Number Of Vessels Contributed to the Entity \| subsidiary	3
Economic interest of preferred share	$ 0
Preferred share recorded at par	$ 5
Due from a related party (Note 3(c))			$ 70	$ 70
Diana Shipping Inc \| Minimum
Related Party Transaction [Line Items]
Number of vessels the entity has the right, but not the obligation, to purchase \| subsidiary		1
Diana Shipping Inc \| Maximum [Member]
Related Party Transaction [Line Items]
Number of vessels the entity has the right, but not the obligation, to purchase \| subsidiary		6
Diana Shipping Inc \| Common stock
Related Party Transaction [Line Items]
Share exchange ratio	10
Number of shares owned \| shares					8,820,240
Diana Shipping Inc \| Series B Preferred Stock
Related Party Transaction [Line Items]
Number of shares distributed \| shares	0
Preferred stock, shares issued \| shares	500,000
Diana Shipping Inc \| Preferred stock Series C
Related Party Transaction [Line Items]
Preferred stock, shares issued \| shares	10,000
Preferred share recorded at fair value	$ 7,570

Advances for vessel acquisiti_3

Advances for vessel acquisitions and Vessels, net (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Accumulated Depreciation
Depreciation for the period	$ (2,024)
Net Book Value
Net Book Value at the beginning	45,728
Depreciation for the period	(2,024)
Net Book Value at the end	48,482	$ 45,728
Vessels
Vessel cost
Vessel cost at the beginning	46,082
Additions and improvements	378	42
Vessel cost at the end	46,460	46,082
Accumulated Depreciation
Accumulated depreciation at the beginning	(354)
Depreciation for the period	(2,024)
Accumulated depreciation at the end	(2,378)	(354)
Net Book Value
Net Book Value at the beginning	45,728
Additions and improvements	378	42
Depreciation for the period	(2,024)
Net Book Value at the end	$ 44,082	$ 45,728

Advances for vessel acquisiti_4

Advances for vessel acquisitions and Vessels, net - Additional Information (Details) $ in Thousands		6 Months Ended	12 Months Ended
	Jun. 13, 2022 USD ($) t	Jun. 30, 2022 USD ($)	Dec. 31, 2021 USD ($)
Property, Plant and Equipment [Line Items]
Advances for vessel acquisitions (Note 4)		$ 4,400
Vessels
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Additions		$ 378	$ 42
Vessel, Baltimore
Property, Plant and Equipment [Line Items]
Vessel deadweight tonnage \| t	177,243
Agreed purchase price in Memorandum of Agreement	$ 22,000
Percentage of advance for vessel	20%
Payments of advances for vessel acquisitions	$ 4,400

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Thousands	6 Months Ended
Commitments and Contingencies (Details) $ in Thousands	Jun. 30, 2022 USD ($)
Property, Plant and Equipment [Line Items]
Vessels covered for pollution per vessel per incident	$ 1,000,000
Term for adjustment of estimates	3 years
Number of vessels fixed under time charter agreements	2
Number of vessels not under time charter agreements	1
Minimum contractual gross charter revenues	$ 5,058
Vessel, Baltimore
Property, Plant and Equipment [Line Items]
Payables for property, plant and equipment	$ 17,600

Capital Stock and Changes in _2

Capital Stock and Changes in Capital Accounts - Common Stock & Warrants (Details) - USD ($) $ / shares in Units, $ in Thousands			2 Months Ended	6 Months Ended
	Mar. 08, 2022	Jan. 25, 2022	Mar. 07, 2022	Jun. 30, 2022	Jun. 14, 2022	Apr. 01, 2022	Jan. 31, 2022	Dec. 31, 2021
Class of Stock [Line Items]
Common stock, shares issued				29,829,092	29,829,092	29,829,092		8,820,240
Common stock, shares outstanding				29,829,092	29,829,092	29,829,092		8,820,240
Minimum bid price requirement for continued listing on Nasdaq, per share	$ 1		$ 1
Grace period to regain compliance with Nasdaq bid price requirements	180 days
Period during which company needs to be in compliance during grace period	10 days
Net proceeds from issuance of common stock including exercise of warrants, net of underwriting commissions and offering expenses				$ 14,678
Minimum
Class of Stock [Line Items]
Period during which company was in breach of Nasdaq share bid price requirements			30 days
Selling Stockholders
Class of Stock [Line Items]
Sale of stock by selling shareholders (in shares)		1,777,148
Pre-funded warrants
Class of Stock [Line Items]
Number of warrants exercised				2,500,000
Class A Warrants
Class of Stock [Line Items]
Warrants, expiration period from issuance							5 years
Number of warrants exercised				4,156,000
Number of warrants available for exercise				14,474,000
Exercise price of warrant				$ 0.77
Class A Warrants \| Selling Stockholders
Class of Stock [Line Items]
Sale of stock by selling shareholders (in shares)				1,777,148
Class A warrants and Prefunded Warrants
Class of Stock [Line Items]
Number of warrants exercised				4,156,000
Underwritten Public Offering
Class of Stock [Line Items]
Units Issued During Period, Units, New Issues		15,571,429
Price per unit		$ 0.77
Number of Shares in a Unit		1
Underwritten Public Offering \| Common Class A
Class of Stock [Line Items]
Issuance of stock (in shares)		13,071,429
Underwritten Public Offering \| Selling Stockholders
Class of Stock [Line Items]
Sale of stock by selling shareholders (in shares)		628,571
Underwritten Public Offering \| Pre-funded warrants
Class of Stock [Line Items]
Warrants sold during period		2,500,000
Number of Warrants in a Unit		1
Number of shares callable by each warrant		1
Underwritten Public Offering \| Class A Warrants
Class of Stock [Line Items]
Warrants in a Unit Sold During Period		15,571,429
Number of Warrants in a Unit		1
Number of shares callable by each warrant		1
Underwritten Public Offering \| Class A Warrants \| Selling Stockholders
Class of Stock [Line Items]
Number of Warrants in a Unit		1
Number of shares callable by each warrant		1
Underwritten Primary Offering \| Selling Stockholders
Class of Stock [Line Items]
Sale of stock by selling shareholders (in shares)		628,751
Over-Allotment Option \| Selling Stockholders \| Common Class A
Class of Stock [Line Items]
Sale of stock by selling shareholders (in shares)		1,148,577
Over-Allotment Option \| Sold by company \| Common Class A
Class of Stock [Line Items]
Issuance of stock (in shares)		1,281,423
Over-Allotment Option \| Class A Warrants \| Sold by company
Class of Stock [Line Items]
Warrants sold during period		2,430,000

Capital Stock and Changes in _3

Capital Stock and Changes in Capital Accounts - Series C Preferred Stocks (Details) $ / shares in Units, $ in Thousands		3 Months Ended	6 Months Ended
	Nov. 29, 2021 USD ($) $ / shares shares	Jun. 30, 2021 USD ($)	Jun. 30, 2022 USD ($) D $ / shares shares	Dec. 31, 2021 $ / shares shares	Nov. 30, 2021 $ / shares
Class of Stock [Line Items]
Preferred stock, shares issued			510,000	510,000
Preferred stock, shares outstanding			510,000	510,000
Preferred stock, par value \| $ / shares			$ 0.01	$ 0.01	$ 0.01
Dividends on preferred stock \| $			$ 471
Preferred stock Series C
Class of Stock [Line Items]
Preferred stock, shares issued			10,000	10,000
Preferred stock, par value \| $ / shares			$ 0.01	$ 0.01
Preferred stock, liquidation preference \| $			$ 1,000
Cumulative preferred dividend rate	8%
Conversion price \| $ / shares	$ 6.50
Preferred stock Series C \| Preferred stock
Class of Stock [Line Items]
Preferred stock, shares outstanding			10,000	10,000
Preferred stock Series C \| Equity Incentive Plan
Class of Stock [Line Items]
Number of shares reserved for issuance of restricted shares			1,982
Preferred stock Series C \| Diana Shipping Inc
Class of Stock [Line Items]
Preferred stock, shares issued	10,000
Trading day trailing VWAP of common shares \| D			10
Maximum percentage of outstanding common shares that can be held by related party after share conversion			49%
Preferred stock Series C \| Diana Shipping Inc \| Preferred stock
Class of Stock [Line Items]
Dividends on preferred stock \| $			$ 471
Dividend paid \| $		$ 0	$ 300
Series A Participating Preferred Stock
Class of Stock [Line Items]
Preferred stock, liquidation preference \| $	$ 1,000

Capital Stock and Changes in _4

Capital Stock and Changes in Capital Accounts - Equity Incentive Plan (Details) - USD ($) $ in Thousands		3 Months Ended	6 Months Ended
	Apr. 15, 2022	Jun. 30, 2021	Jun. 30, 2022	Mar. 23, 2022
Compensation cost on restricted stock			$ 158
2021 Equity Incentive Plan
Number of shares authorized for grant of restricted share awards				10,000
Preferred stock Series C \| 2021 Equity Incentive Plan
Vesting period of restricted shares granted	2 years
Number of shares reserved for issuance of restricted shares	1,982		1,982
Total unrecognized compensation cost relating to restricted share awards			$ 1,342
Compensation cost on restricted stock		$ 0	$ 158
Total fair value of shares granted	$ 1,500

Capital Stock and Changes in _5

Capital Stock and Changes in Capital Accounts - Dividend to common stock and Class A warrants' holder (Details) - USD ($) $ / shares in Units, $ in Thousands						3 Months Ended	6 Months Ended
	Jun. 21, 2022	Jun. 14, 2022	Apr. 13, 2022	Apr. 01, 2022	Mar. 18, 2022	Mar. 31, 2022	Jun. 30, 2022	Dec. 31, 2021
Class of Stock [Line Items]
Common stock dividends per share declared					$ 0.05	$ 0.01
Common stock, shares issued		29,829,092		29,829,092			29,829,092	8,820,240
Common stock, shares outstanding		29,829,092		29,829,092			29,829,092	8,820,240
Payments of dividends on common stockholders and Class A warrant holders	$ 443		$ 2,215				$ 2,658
Common stock excluding Class A Warrants
Class of Stock [Line Items]
Payments of dividends on common stockholders and Class A warrant holders	299		1,491
Class A Warrants
Class of Stock [Line Items]
Cash paid to Warrant holders per share		$ 0.01		$ 0.05
Class of Warrant or Right, Number of Securities Called by Warrants or Rights		14,474,000		14,474,000
Payments of dividends on common stockholders and Class A warrant holders	$ 144		$ 724

Loss per Share (Details)

Loss per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2022	Jun. 14, 2022	Apr. 01, 2022	Dec. 31, 2021
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Declared cash dividend	$ 0
Dividends on Class A warrants		$ 868
Effect of dilutive securities	0	0
Common stock, shares issued		29,829,092	29,829,092	29,829,092	8,820,240
Loss per share, diluted	$ (2)	$ (0.01)
Common stock excluding Class A Warrants
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Declared cash dividend		$ 1,790
Class A Warrants
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Declared cash dividend		$ 868

Loss per Share - Equity holders

Loss per Share - Equity holders (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2022
Loss per Share
Net income / (loss)	$ (1)	$ 1,062
Less dividends on series C preferred stock		(471)
Less dividends on Class A warrants		(868)
Net loss attributable to common stockholders	$ (1)	$ (277)
Weighted average number of common stocks, basic	500	25,691,205
Effect of dilutive shares	0	0
Weighted average number of common stock, diluted	500	25,691,205
Loss per share, basic	$ (2)	$ (0.01)
Loss per share, diluted	$ (2)	$ (0.01)

Financial Instruments and Fai_3

Financial Instruments and Fair Value Disclosures (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2022 USD ($)
Concentration Risk [Line Items]
Maximum aggregate amount of loss due to credit risk	$ 214
Charterers [Member] \| Revenue Benchmark \| Customer Concentration Risk [Member]
Concentration Risk [Line Items]
Percentage of time charter revenues	10%
A \| Revenue Benchmark \| Customer Concentration Risk [Member]
Concentration Risk [Line Items]
Percentage of time charter revenues	32%
B \| Revenue Benchmark \| Customer Concentration Risk [Member]
Concentration Risk [Line Items]
Percentage of time charter revenues	25%
C \| Revenue Benchmark \| Customer Concentration Risk [Member]
Concentration Risk [Line Items]
Percentage of time charter revenues	22%

Subsequent Events (Details)

Subsequent Events (Details) - USD ($) $ / shares in Units, $ in Thousands

1 Months Ended

2 Months Ended

3 Months Ended

6 Months Ended

Sep. 27, 2022

Sep. 21, 2022

Sep. 15, 2022

Sep. 06, 2022

Aug. 12, 2022

Jul. 14, 2022

Mar. 18, 2022

Mar. 08, 2022

Nov. 29, 2021

Sep. 30, 2022

Mar. 07, 2022

Mar. 31, 2022

Jun. 30, 2022

Aug. 31, 2022

Jun. 14, 2022

Apr. 01, 2022

Dec. 31, 2021

Apr. 15, 2021

Subsequent Events

Dividends on preferred stock

$ 471

Common stock dividends per share declared

$ 0.05

$ 0.01

Common stock, shares issued

29,829,092

8,820,240

Common stock, shares outstanding

29,829,092

8,820,240

Common stock, par value

$ 0.01

Grace period to regain compliance with Nasdaq bid price requirements

180 days

Minimum bid price requirement for continued listing on Nasdaq, per share

$ 1

Period during which company needs to be in compliance during grace period

10 days

Dividends Payable

$ 240

Class A warrants

Subsequent Events

Class of Warrant or Right, Number of Securities Called by Warrants or Rights

14,474,000

Preferred stock Series C

Subsequent Events

Cumulative preferred dividend rate

Preferred stock, liquidation preference

$ 1,000

Common stock

Subsequent Events

Common stock dividends per share declared

$ 0.01

Subsequent Event [Member]

Subsequent Events

Grace period to regain compliance with Nasdaq bid price requirements

180 days

Minimum bid price requirement for continued listing on Nasdaq, per share

$ 1

Period during which company needs to be in compliance during grace period

10 days

Subsequent Event [Member] | Class A warrants

Subsequent Events

Common stock dividends per share declared

$ 0.01

Class of Warrant or Right, Number of Securities Called by Warrants or Rights

14,474,000

Aggregate class A warrants holders

$ 443

Subsequent Event [Member] | Dividend Paid [Member] | Class A warrants

Subsequent Events

Aggregate class A warrants holders

144

Subsequent Event [Member] | Preferred stock Series C

Subsequent Events

Dividends on preferred stock

$ 240

Subsequent Event [Member] | 7.0% Series D convertible perpetual preferred shares

Subsequent Events

Cumulative preferred dividend rate

Preferred stock, liquidation preference

$ 1,000

Trading day trailing VWAP of common shares

Subsequent Event [Member] | 7.0% Series D convertible perpetual preferred shares | Vessel, Baltimore

Subsequent Events

Value of shares issued in exchange for goods or services

$ 17,600

Shares issued in exchange for goods or services

25,000

Subsequent Event [Member] | Series D Preferred Stock [Member] | Dividend Declared [Member]

Subsequent Events

Dividends, Preferred Stock, Cash

$ 117

Subsequent Event [Member] | Common stock

Subsequent Events

Common stock, shares issued

29,829,092

Common stock, shares outstanding

29,829,092

Subsequent Event [Member] | Common stock | Dividend Paid [Member]

Subsequent Events

Aggregate class A warrants holders

$ 299

COMBINED CARVE-OUT BALANCE SHEE

COMBINED CARVE-OUT BALANCE SHEET - USD ($)	Dec. 31, 2021	Jun. 30, 2021	Dec. 31, 2020
CURRENT ASSETS:
Cash and cash equivalents	$ 1,673,000
Accounts receivable, trade	811,000
Due from a related party (Note 3(c))	70,000
Inventories	186,000
Prepaid expenses and other assets	460,000
Total current assets	3,200,000
FIXED ASSETS:
Vessels, net (Note 4)	45,728,000
Total fixed assets	45,728,000
OTHER NON-CURRENT ASSETS:
Deferred charges, net	152,000
Total assets	49,080,000
CURRENT LIABILITIES:
Accounts payable, trade and other	263,000
Due to related parties (Note 3)	59,000
Accrued liabilities	381,000
Deferred revenue	228,000
Total current liabilities	931,000
Commitments and contingencies (Note 5)
PARENT EQUITY:
Preferred stock, $0.01 par value; 100,000,000 shares authorized, 510,000 issued and outstanding as at December 31, 2021 and June 30, 2022 (Note 6)	5,000
Common stock, $0.01 par value; 1,000,000,000 shares authorized; 8,820,240 and 29,829,092 issued and outstanding as at December 31, 2021 and June 30, 2022, respectively (Note 6)	88,000
Parent investment, net (Note 5)	47,991,000
Accumulated deficit	65,000
Total stockholders' equity	48,149,000	$ 4,000
Total liabilities and stockholders' equity	$ 49,080,000
OceanPal Inc. Predecessors
CURRENT ASSETS:
Cash and cash equivalents		1,939	$ 39,638
Accounts receivable, trade		32,680	1,035,069
Due from a related party (Note 3(c))		1,392,146	1,169,637
Inventories		143,701	181,973
Insurance claims			941,488
Prepaid expenses		674,710	869,662
Total current assets		2,245,176	4,237,467
FIXED ASSETS:
Vessels, net (Note 4)		31,207,386	32,249,299
Total fixed assets		31,207,386	32,249,299
OTHER NON-CURRENT ASSETS:
Deferred charges, net		584,017	701,773
Total assets		34,036,579	37,188,539
CURRENT LIABILITIES:
Accounts payable, trade and other		280,622	133,566
Due to related parties (Note 3)		22,930	115,280
Accrued liabilities		1,111,058	1,637,623
Deferred revenue		235,897
Total current liabilities		1,650,507	1,886,469
PARENT EQUITY:
Parent investment, net (Note 5)		140,925,220	144,274,678
Accumulated deficit		(108,539,148)	(108,972,608)
Total stockholders' equity		32,386,072	35,302,070
Total liabilities and stockholders' equity		$ 34,036,579	$ 37,188,539

COMBINED CARVE-OUT STATEMENTS C

COMBINED CARVE-OUT STATEMENTS COMPREHENSIVE INCOME (LOSS) - USD ($)	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
OceanPal Inc. Predecessors
REVENUES:
Time charter revenues (Note 2(o))	$ 6,065,161	$ 4,818,779
EXPENSES:
Voyage expenses (Note 2(o))	94,027	552,104
Vessel operating expenses (Note 2(p))	3,406,320	3,535,771
Depreciation and amortization of deferred charges (Note 4)	1,191,889	962,135
General and administrative expenses (Note 6)	560,376	609,491
Management fees to related parties (Note 3)	377,671	378,000
Vessel fair value adjustment (Note 4)		200,500
Other loss/(income)	1,418	88
Operating income/(loss)	433,460	(1,018,310)
Net income/(loss) and comprehensive income/(loss)	$ 433,460	$ (1,018,310)

COMBINED CARVE-OUT STATEMENTS O

COMBINED CARVE-OUT STATEMENTS OF PARENTS' EQUITY - USD ($)	Parent Company Investment OceanPal Inc. Predecessors	Preferred stock Series B Preferred Stock	Preferred stock Preferred stock Series C	Common stock	Additional paid-in capital	Retained Earnings OceanPal Inc. Predecessors	Retained Earnings	OceanPal Inc. Predecessors	Total
Balance at the beginning at Dec. 31, 2019	$ 140,038,822					$ (105,176,649)		$ 34,862,173
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Parent Investment, net (Note 6)	1,271,586							1,271,586
Net Income (loss) and comprehensive loss						(1,018,310)		(1,018,310)
Balance at the end at Jun. 30, 2020	141,310,408					(106,194,959)		35,115,449
Balance at the beginning at Dec. 31, 2020	144,274,678					(108,972,608)		35,302,070
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Parent Distribution, net (Note 6)	(3,349,458)							(3,349,458)
Net Income (loss) and comprehensive loss						433,460		433,460
Balance at the end at Jun. 30, 2021	140,925,220			$ 5,000		(108,539,148)	$ (1,000)	32,386,072	$ 4,000
Balance at the end (in shares) at Jun. 30, 2021				500
Balance at the beginning at Apr. 14, 2021				$ 5,000
Balance at the beginning (in shares) at Apr. 14, 2021				500
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income (loss) and comprehensive loss							(1,000)		(1,000)
Balance at the end at Jun. 30, 2021	$ 140,925,220			$ 5,000		$ (108,539,148)	(1,000)	$ 32,386,072	4,000
Balance at the end (in shares) at Jun. 30, 2021				500
Balance at the beginning at Dec. 31, 2021		$ 5,000		$ 88,000	$ 47,991,000		65,000		48,149,000
Balance at the beginning (in shares) at Dec. 31, 2021		500,000	10,000	8,820,240
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income (loss) and comprehensive loss							1,062,000		1,062,000
Dividends declared on series C preferred stock (Note 6(c))					(235,000)		$ (236,000)		(471,000)
Balance at the end at Jun. 30, 2022		$ 5,000		$ 298,000	$ 60,615,000				$ 60,918,000
Balance at the end (in shares) at Jun. 30, 2022		500,000	10,000	29,829,092

COMBINED CARVE-OUT STATEMENTS_2

COMBINED CARVE-OUT STATEMENTS OF CASH FLOWS - USD ($)	6 Months Ended
COMBINED CARVE-OUT STATEMENTS OF CASH FLOWS - USD ($)	Jun. 30, 2021	Jun. 30, 2020
OceanPal Inc. Predecessors
Cash Flows provided by / (used in) Operating Activities:
Net income / (loss)	$ 433,460	$ (1,018,310)
Adjustments to reconcile net income/(loss) to net cash from operating activities:
Depreciation and amortization of deferred charges	1,191,889	962,135
Vessel fair value adjustment (Note 4)		(200,500)
(Increase) / Decrease in:
Accounts receivable, trade	1,002,389	234,767
Due from a related party	(222,509)	(60,553)
Inventories	38,272	5,288
Insurance claims	941,488	(7,841)
Prepaid expenses	194,952	(149,854)
Prepaid expenses and other assets		(394,242)
Increase / (Decrease) in:
Accounts payable, trade and other	147,056	9,486
Due to related parties (Note 3)	(92,350)	(169,004)
Accrued liabilities	(526,565)	570,591
Deferred revenue	235,897	(62,112)
Drydock costs	(2,743)	(271,450)
Net cash provided by / (used in) Operating Activities	3,341,236	(551,599)
Cash Flows used in Investing Activities:
Payments for vessel improvements (Note 4)	(29,477)	(719,290)
Net cash used in Investing Activities	(29,477)	(719,290)
Cash Flows provided by Financing Activities:
Parent investment/(distribution), net	(3,349,458)	1,271,586
Net cash provided by Financing Activities	(3,349,458)	1,271,586
Net increase in cash and cash equivalents	(37,699)	697
Cash and cash equivalents at beginning of the year/period	39,638	1,915
Cash and cash equivalents at end of the period	$ 1,939	$ 2,612

Basis of Presentation and Gen_3

Basis of Presentation and General Information	6 Months Ended
Basis of Presentation and General Information	Jun. 30, 2022	Jun. 30, 2021
Basis of Presentation and General Information	1.Basis of Presentation and General Information The accompanying unaudited interim consolidated financial statements include the accounts of OceanPal Inc. (the ‘‘Company”, or “OceanPal”, or “OP”), and its wholly-owned subsidiaries (collectively, the “Company”). OP was incorporated by Diana Shipping Inc. (“Diana Shipping” or “DSI”) on April 15, 2021 under the laws of the Republic of the Marshall Islands, having a share capital of 500 shares, par value $0.01 per share, issued to DSI (Note 3 (c)). In November 2021, the Company’s articles of incorporation and bylaws were amended. Under the amended articles of incorporation, the Company’s authorized share capital increased from 500 common shares to 1,000,000,000 shares of common stock at par value $0.01 and 100,000,000 preferred stock at par value $0.01. On June 24, 2021, OP filed a confidential registration statement on Form 20-F with the US Securities and Exchange Commission pursuant to the Securities Exchange Act of 1934, to effect a spin-off of three of DSI’s vessel owning subsidiaries together with working capital in exchange of common and preferred stock to DSI and its’ shareholders (the “Spin-Off”) (Note 3 (c)). On November 29, 2021 the registration statement was declared effective. On November 30, 2021, OP began “regular way” trading on the Nasdaq Global Market under the ticker symbol “OP”. The accompanying unaudited interim consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles, or U.S. GAAP, for interim financial information. Accordingly, they do not include all the information and notes required by U.S. GAAP for complete financial statements. These unaudited interim consolidated financial statements have been prepared on the same basis and should be read in conjunction with the financial statements for the period from inception (April 15, 2021) through December 31, 2021 included in the Company’s Annual Report on Form 20-F filed with the Securities and Exchange Commission on April 6, 2022 and, in the opinion of management, reflect all adjustments, which include only normal recurring adjustments considered necessary for a fair presentation of the Company’s financial position, results of operations and cash flows for the periods presented. Operating results for the six month period ended June 30, 2022 are not necessarily indicative of the results that might be expected for the fiscal year ending December 31, 2022. The comparative unaudited interim consolidated financial statements have been presented for the period from inception (April 15, 2021) through June 30, 2021. They include only the accounts of OceanPal Inc. from inception date April 15, 2021 through June 30, 2021, as the accounts of the Company’s wholly-owned subsidiaries have been consolidated from November 30, 2021 (i.e. upon the Spin-Off consummation and the acquisition of the three ship-owning subsidiaries by the Company) when the operation of the Company’s vessels started. Operations prior to the November The consolidated balance sheet as of December 31, 2021 has been derived from the audited consolidated financial statements at that date, but does not include all of the information and footnotes required by U.S. GAAP for complete financial statements. The Company is engaged in the ocean transportation of cargoes worldwide through the ownership and operation of vessels. Each of the vessels is owned through a separate wholly-owned subsidiary. The Company is the sole owner of all outstanding shares of the following subsidiaries: ● Cypres Enterprises Corp., a company incorporated in the Republic of Panama on September 7, 2000, owner of the 2004 built Panamax dry bulk carrier Protefs (Note 3 (c)), ● Darien Compania Armadora S.A., a company incorporated in the Republic of Panama on December 22, 1993, owner of the 2005 built Panamax dry bulk carrier Calipso (Note 3 (c)), ● Marfort Navigation Company Limited, a company incorporated in the Republic of Cyprus on August 10, 2007, owner of the 2005 built Capesize dry bulk carrier Salt Lake City (Note 3 (c)), and ● Darrit Shipping Company Inc., a company incorporated in the Republic of the Marshall islands on June 02, 2022, for the purposes of acquiring the 2005 built Capesize dry bulk carrier Baltimore (Note 4 and 9(d)). The Company operates its own fleet through Diana Wilhelmsen Management Limited (or “DWM”) (Note 3(a)) and Steamship Shipbroking Enterprises Inc. (or “Steamship”) (Note 3(b)). Uncertainties caused by the COVID-19 pandemic and the Russo-Ukrainian conflict: Additionally, the recent conflict between Russia and the Ukraine, since February 2022, has disrupted supply chains and caused instability in the energy markets and the global economy, which have experienced significant volatility. Several countries announced sanctions against Russia, including sanctions targeting the Russian oil sector, among those a prohibition on the import of oil and coal from Russia, and may impose wider sanctions and take other actions in the future. To date, no apparent consequences have been identified on the Company’s business, or counterparties, by COVID-19 and the conflict in Ukraine and their implications. Currently, none of the Company’s contracts have been affected by the events in Russia and Ukraine. Given the dynamic nature of these circumstances, and as volatility continues, the full extent to which the COVID-19 global pandemic and/or the Russo-Ukrainian war may have direct or indirect impact on the industry and on the Company’s business is difficult to be predicted, whereas it is possible that in the future third parties with whom the Company has or will have contracts may be impacted by such events and sanctions. The related financial reporting implications cannot be reasonably estimated at this time, although they could materially affect the Company’s business, results of operations and financial condition in the future. As a result, many of the Company’s estimates and assumptions carry a higher degree of variability and volatility. As events continue to evolve and additional information becomes available, the Company’s estimates may change in future periods. The overall impact on the Company’s business, and the efficacy of any measures the Company takes in response to the challenges presented by these geopolitical events, will depend on how those events will further develop, the duration and extent of the restrictive measures that are associated with such events and their impact on global economy and trade, which is still uncertain. The Company is constantly monitoring the developing situation, as well as its charterers’ and other counterparties’ response to the market and continuously evaluates the effect on its operations.
OceanPal Inc. Predecessors
Basis of Presentation and General Information		1. OceanPal Inc., (the ‘‘Company”, or “OceanPal”), was incorporated by Diana Shipping Inc. (or ”DSI” or “Parent”) on April 15, 2021 under the laws of the Republic of the Marshall Islands, having a share capital of 500 shares, par value $0.01 per share, issued to Parent. The Company will serve as the holding company of the following three of the Parent’s vessel-owning subsidiaries (the “Subsidiaries”, or “OceanPal Inc. Predecessors”): ● Cypres Enterprises Corp., a company incorporated in the Republic of Panama on September 7, 2000, owner of the 2004 built Panamax dry bulk carrier Protefs, ● Darien Compania Armadora S.A., a company incorporated in the Republic of Panama on December 22, 1993, owner of the 2005 built Panamax dry bulk carrier Calipso and ● Marfort Navigation Company Limited, a company incorporated in the Republic of Cyprus on August 10, 2007, owner of the 2005 built Capesize dry bulk carrier Salt Lake City; The Parent will contribute the Subsidiaries to OceanPal and, as the sole shareholder of the Company, intends to distribute the Company’s common shares to its shareholders on a pro rata basis. The accompanying unaudited interim carve-out financial statements have been prepared in accordance with U.S. generally accepted accounting principles, or U.S. GAAP, for interim financial information. Accordingly, they do not include all the information and notes required by U.S. GAAP for complete financial statements. These unaudited interim combined financial statements have been prepared on the same basis and should be read in conjunction with the financial statements for the year ended December 31, 2020 and, in the opinion of management, reflect all adjustments, which include only normal recurring adjustments considered necessary for a fair presentation of the Company’s financial position, results of operations and cash flows for the periods presented. Operating results for the six months ended June 30, 2021 are not necessarily indicative of the results that might be expected for the fiscal year ending December 31, 2021. The combined carve-out balance sheet as of December 31, 2020 has been derived from the audited predecessor combined carve-out financial statements at that date, but does not include all of the information and footnotes required by U.S. GAAP for complete financial statements. The Company is a global provider of shipping transportation services, specializing in the ownership of vessels. Each of the vessels is owned through a separate wholly-owned subsidiary. In 2020, the outbreak of the COVID-19 virus has had a negative effect on the global economy and has adversely impacted the international dry-bulk shipping industry in which the Company operates. As of December 31, 2020, the impact of the outbreak of COVID-19 virus resulted in low time charter rates throughout the year, decreased revenues and increased crew and dry-docking costs. As the situation continues to evolve, it is difficult to predict the long-term impact of the pandemic on the industry. As a result, many of the Company’s estimates and assumptions, mainly future revenues for unfixed days, carry a higher degree of variability and volatility. The Company is constantly monitoring the developing situation, as well as its charterers’ response to the severe market disruption and is taking necessary precautions to address and mitigate, to the extent possible, the impact of COVID-19 to the Company. During the six months ended June 30, 2021 and 2020, charterers that individually accounted for 10% or more of the Company’s time charter revenues were as follows: Charterer 2021 2020 Cargill International S.A. 37 % Phaethon International Co AG. 33 % Uniper Global Commodities, Dusseldorf GE 11 % Crystal Sea Shipping Co., Limited 20 % C Transport Maritime LTD 37 % Vitera Chartering 28 % Reachy International 25 % Significant Accounting Policies and Recent Accounting Pronouncements: A discussion of the Company’s significant accounting policies can be found in Note 2 of the Company’s Combined Carve-out audited Financial Statements for the year ended December 31, 2020. There have been no material changes to these policies in the six months ended June 30, 2021. The Company supplements its significant accounting policy that can be found in Note 2p of the Company’s Combined Carve-out audited Financial Statements for the year ended December 31, 2020 with respect to voyage expenses, as follows: Voyage Expenses:

Transactions with related par_5

Transactions with related parties	6 Months Ended
Transactions with related parties	Jun. 30, 2022	Jun. 30, 2021
Transactions with related parties	3.Transactions with related parties a)Diana Wilhelmsen Management Limited, or DWM: b)Steamship Shipbroking Enterprises Inc. or Steamship: c)Diana Shipping Inc., or DSI: not Pursuant to the Contribution and Conveyance agreement dated on November 8, 2021, as amended and restated on November 17, 2021, entered between the Company and DSI, DSI has indemnified the Company and the three vessel-owning subsidiaries discussed in Note 1 above for any and all obligations and other liabilities arising from or relating to the operation, management or employment of the Company’s vessels prior to the effective date of the Spin-Off (November 29, 2021). Additionally, pursuant to a Right of First Refusal agreement entered with DSI, dated November 8, 2021, the Company has been granted a right of first refusal over six identified drybulk carriers owned by DSI, effective as of the consummation of the Spin-Off. According to this right of first refusal, the Company has the right, but not the obligation, to purchase one or all of the six identified vessels when and if DSI determines to sell the vessels at fair market value at the time of sale. Pursuant to this right of first refusal, the Company, through one newly wholly-owned subsidiary, entered on June 13, 2022 into a Memorandum of Agreement with DSI, to acquire the Capesize M/V Baltimore. (Note 4 and 9(d)). Furthermore, the Company as of November 2, 2021, has entered into a Non-Competition agreement with DSI pursuant to which DSI has agreed not to compete with the Company for vessel acquisition or chartering opportunities to the extent that such acquisition or chartering opportunities are suitable for the Company or one of the Company’s vessels. The Spin-Off was accounted for at fair values. The aggregate fair value of $46,040 of the three vessels contributed to the Company on November 29, 2021, was determined through Level 2 inputs of the fair value hierarchy by taking into consideration third party valuations which were based on the last done deals of sale of vessels with similar characteristics, such as type, size and age at the specific dates (Note 4). The fair value of other assets contributed to the Company, mainly comprising from lubricating oils and bunkers, approximated their respective carrying value. Series B preferred Stock, which has no economic interest, is recorded at par amounting to $5 and Series C preferred Stock has been recorded at a fair value of $7,570 determined based on valuation obtained by an independent third party for the purposes of the Spin-Off. As of June 30, 2022 and December 31, 2021, there was an amount of $70 and $70, respectively, due from DSI, included in “Due from a related party” in the accompanying consolidated balance sheets, resulting from amounts paid or received by DSI on behalf of OceanPal up to the date of the contribution.
OceanPal Inc. Predecessors
Transactions with related parties		2. a) Diana Wilhelmsen Management Limited, or DWM: “ ” “ ” “ ” b) Diana Shipping Services S.A., or DSS: ’ “ ” “ ” “ ”

Vessels

Vessels	6 Months Ended
Vessels	Jun. 30, 2022	Jun. 30, 2021
Vessels, net	4.Advances for vessel acquisitions and Vessels, net Vessel Acquisition On June 13, 2022, the Company signed, through its wholly-owned subsidiary Darrit Shipping Company Inc., a Memorandum of Agreement, as amended, to acquire from DSI, a Capesize dry bulk vessel, the m/v Baltimore, of 177,243 dwt, for a purchase price of $22,000. Of the purchase price, 20% or $4,400 was paid in cash upon signing of the Memorandum of Agreement and is included in Advances for vessel acquisitions in the accompanying unaudited interim consolidated balance sheet as of June 30, 2022. The vessel was delivered to the Company on September 20, 2022 and the Company paid the balance of the purchase price in shares of its newly issued Series D preferred stock, the terms of which were mutually agreed between the Company and DSI Note 9(d)). The purchase of this vessel was made pursuant to the Company’s exercise of a right of first refusal granted to the Company by DSI on six identified vessels based on an agreement dated November 8, 2021 (Note 3(c)). The acquisition of the vessel was approved by a committee of independent members of the Company’s Board of Directors. Vessels’ contribution On November 29, 2021, entities Cypres Enterprises Corp., Darien Compania Armadora S.A., and Marfort Navigation Company Limited, whose substantially all assets were vessels Protefs, Calipso and Salt Lake City, respectively, were contributed to the Company by Diana Shipping in connection with the Spin-Off (Note 3(c)). Vessel improvements Vessel improvements mainly relate to the implementation of ballast water treatment and other works necessary for the vessels to comply with new regulations and be able to navigate to additional ports. During the period ended December 31, 2021, and June 30, 2022, the additions to vessels’ cost amounted to $42 and $378, respectively. The amounts reflected in Vessels, net in the accompanying consolidated balance sheets are analyzed as follows: Vessel Cost Accumulated Depreciation Net Book Value Balance, December 31, 2021 $ 46,082 $ (354) $ 45,728 -Additions for improvements 378 — 378 - Depreciation for the period — (2,024) (2,024) Balance, June 30, 2022 $ 46,460 $ (2,378) $ 44,082
OceanPal Inc. Predecessors
Vessels, net		3. The amounts reflected in Vessels, net in the accompanying combined carve-out balance sheets are analyzed as follows: Accumulated Vessel Cost Depreciation Net Book Value Balance, December 31, 2020 $ 47,405,161 $ (15,155,862) $ 32,249,299 - Additions for improvements 29,477 — 29,477 - Depreciation for the period — (1,071,390) (1,071,390) Balance, June 30, 2021 $ 47,434,638 $ (16,227,252) $ 31,207,386

Commitments and Contingencies_2

Commitments and Contingencies	6 Months Ended
Commitments and Contingencies	Jun. 30, 2022	Jun. 30, 2021
Commitments and Contingencies	5.Commitments and Contingencies a) b) c)
OceanPal Inc. Predecessors
Commitments and Contingencies		4. a) ’ ’ ’ b) Protefs Protefs Protefs “ ” Protefs ’ Protefs c) ’

Parent Investment

Parent Investment	6 Months Ended
Parent Investment	Jun. 30, 2021
OceanPal Inc. Predecessors
Parent Investment	5. As of June 30, 2021 and December 31, 2020, parent investment amounting to $140.9 million and $144.3 million, respectively, consists of the amounts contributed by the Parent to finance part of the acquisition cost of the vessels, intercompany amounts due to or from the Parent which are forgiven and treated as contributions or distributions of capital and other general and administrative expenses allocated to the OceanPal Inc. Predecessor by Parent. Allocated general and administrative expenses include expenses of Parent such as executive’s cost, legal, treasury, regulatory compliance and other costs. These expenses were allocated on a pro rata basis, based on the number of ownership days of the Subsidiaries’ vessels compared to the number of ownership days of the total DSI fleet. Such allocations are believed to be reasonable, but may not reflect the actual costs if the OceanPal Inc. Predecessor had operated as a standalone company. As part of Parent, OceanPal Inc. Predecessor is dependent upon Parent for all of its working capital and financing requirements, as Parent uses a centralized approach to cash management and financing of its operations. Financial transactions relating to OceanPal Inc. Predecessor are accounted for through the Parent equity account and reflected in the combined carve-out statements of Parent’s equity as an increase or decrease in Parent investment. Accordingly, none of Parent’s cash, cash equivalents or debt at the corporate level have been assigned to the OceanPal Inc. Predecessor in the financial statements. Parent equity, net represents Parent’s interest in the recorded net assets of the OceanPal Inc. Predecessor. All significant intercompany accounts and transactions between the businesses comprising the OceanPal Inc. Predecessor have been eliminated in the accompanying combined carve-out financial statements.

Voyage Expenses

Voyage Expenses	6 Months Ended
Voyage Expenses	Jun. 30, 2021
OceanPal Inc. Predecessors
Voyage Expenses	6. The amounts in the accompanying unaudited interim combined carve-out statements of operations and comprehensive income/(loss) are analyzed as follows: June 30, 2021 2020 Commissions $ 412,008 $ 322,428 Bunkers (330,454) 212,830 Extra insurance 2,023 — Miscellaneous 10,450 16,846 Total $ 94,027 $ 552,104

Fair Value measurements and Ris

Fair Value measurements and Risk management	6 Months Ended
Fair Value measurements and Risk management	Jun. 30, 2022	Jun. 30, 2021
Financial Instruments and Fair Value Disclosures	8.Financial Instruments and Fair Value Disclosures Concentration of credit risk: For the six month period ended June 30, 2022, charterers that individually accounted for 10% or more of the Company’s time charter revenues were as follows: Charterer June 30, 2022 A 32 % B 25 % C 22 % The maximum aggregate amount of loss due to credit risk that the Company would incur if the aforementioned charterers failed completely to perform according to the terms of the relevant time charter parties, amounted to $214 as of June 30, 2022. Fair value of assets and liabilities:
OceanPal Inc. Predecessors
Financial Instruments and Fair Value Disclosures		7. The carrying values of cash, accounts receivable and accounts payable approximate their fair value due to the short-term nature of these financial instruments.

Subsequent Events_2

Subsequent Events	6 Months Ended
Subsequent Events	Jun. 30, 2022	Jun. 30, 2021
Subsequent Events	9.Subsequent Events (a) Series C Preferred Stock Dividend: On July 14, 2022, the Company paid a dividend on its Series C preferred stock, amounting to $240 . On September 19, 2022, the Company’s Board of Directors declared a cash dividend of $240 to the Company’s Series C preferred stock holders for the period from July 15, 2022 to October 14, 2022, which is payable on October 17, 2022. (b) Dividend to common stock and Class A warrants’ holders: On July 27, 2022, the Company’s Board of Directors declared a cash dividend of $0.01 per share for the second quarter ended June 30, 2022, to its’ common stock holders of record August 12, 2022. The Company had 29,829,092 shares of common stock issued and outstanding on the record date (August 12, 2022). Holders of the Company’s Class A warrants as of August 12, 2022 received a cash payment in the amount of $0.01 for each common share that such holder would be entitled to receive upon exercise of their Class A Warrants. As of record date August 12, 2022, there were Class A Warrants exercisable for an aggregate of 14,474,000 common shares. On August 31, 2022, the Company paid a dividend of $299 on common stock and of $144 on Class A warrants holders of record August 12, 2022, amounting to $443 in aggregate. (c) Receipt of Nasdaq Notice: On September 6, 2022, the Company was granted an additional 180 - day period from the Nasdaq Stock Market, through March 6, 2023, to regain compliance with the $1.00 minimum bid price requirement for continued listing on the Nasdaq Capital Market. The Company can cure this deficiency if the closing bid price of its common stock is $1.00 per share or higher for at least ten consecutive business days during the grace period. During this time, the Company’s common stock will continue to be listed and trade on the Nasdaq Capital Market. (d) Vessel Delivery and Issuance of Preferred Stock: On September 20, 2022, the Company took delivery of the M/V Baltimore. On September 21, 2022 the Company paid the remaining of the purchase price (i.e. $17,600 ) in 25,000 shares of its newly issued 7.0% Series D convertible perpetual preferred shares. The Series preferred stock has a cumulative preferred dividend accruing at the rate of 7.0% per annum, contains a $1,000 liquidation preference and is convertible into common shares at any time at the holder’s option commencing upon the first anniversary of the original issue date, at a conversion price equal to the 10 - trading day trailing VWAP of the Company’s common shares, subject to certain adjustments. As part of this transaction, the Company also entered into an agreement with Diana Shipping, providing the right to Diana Shipping to request that the Company effects a listing of the Series D Preferred Stock, provided that Diana Shipping then owns at least a majority of the outstanding shares of the Company’s Series D Preferred Stock. This listing right expires upon the earlier of (i) the date on which Diana Shipping is no longer the registered owner of any shares of the Company’s Series D Preferred Stock and (ii) the second anniversary of September 21, 2022 (original issuance date of Series D Preferred Stock). (e) Series D Preferred Stock Dividend: On September 27, 2022, the Company’s Board of Directors declared a cash dividend of $ 117 to the Company’s Series D preferred stock holders for the period from September 21, 2022 to October 14, 2022, which is payable on October 17, 2022.
OceanPal Inc. Predecessors
Subsequent Events		8. Protefs: four year

Basis of Presentation and Gen_4

Basis of Presentation and General Information (Tables)	6 Months Ended
Basis of Presentation and General Information (Tables)	Jun. 30, 2021
OceanPal Inc. Predecessors
Product Information [Line Items]
Schedule predecessors time charter revenues	During the six months ended June 30, 2021 and 2020, charterers that individually accounted for 10% or more of the Company’s time charter revenues were as follows: Charterer 2021 2020 Cargill International S.A. 37 % Phaethon International Co AG. 33 % Uniper Global Commodities, Dusseldorf GE 11 % Crystal Sea Shipping Co., Limited 20 % C Transport Maritime LTD 37 % Vitera Chartering 28 % Reachy International 25 %

Vessels (Tables)

Vessels (Tables)	6 Months Ended
Vessels (Tables)	Jun. 30, 2022	Jun. 30, 2021
Summary of vessels, net	Vessel Cost Accumulated Depreciation Net Book Value Balance, December 31, 2021 $ 46,082 $ (354) $ 45,728 -Additions for improvements 378 — 378 - Depreciation for the period — (2,024) (2,024) Balance, June 30, 2022 $ 46,460 $ (2,378) $ 44,082
OceanPal Inc. Predecessors
Summary of vessels, net		Accumulated Vessel Cost Depreciation Net Book Value Balance, December 31, 2020 $ 47,405,161 $ (15,155,862) $ 32,249,299 - Additions for improvements 29,477 — 29,477 - Depreciation for the period — (1,071,390) (1,071,390) Balance, June 30, 2021 $ 47,434,638 $ (16,227,252) $ 31,207,386

Voyage Expenses (Tables)

Voyage Expenses (Tables)	6 Months Ended
Voyage Expenses (Tables)	Jun. 30, 2021
OceanPal Inc. Predecessors
Schedule of unaudited interim combined carve-out statements of operations and comprehensive income/(loss)	June 30, 2021 2020 Commissions $ 412,008 $ 322,428 Bunkers (330,454) 212,830 Extra insurance 2,023 — Miscellaneous 10,450 16,846 Total $ 94,027 $ 552,104

Basis of Presentation and Gen_5

Basis of Presentation and General Information (Details) - $ / shares	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2022	Dec. 31, 2021	Nov. 30, 2021	Apr. 15, 2021
Related Party Transaction [Line Items]
Common stock, shares authorized			1,000,000,000	1,000,000,000	1,000,000,000	500
Common stock, par value			$ 0.01	$ 0.01		$ 0.01
OceanPal Inc. Predecessors
Related Party Transaction [Line Items]
Common stock, shares authorized	500
Common stock, par value	$ 0.01
OceanPal Inc. Predecessors \| Revenue Benchmark \| Customer Concentration Risk [Member] \| C Transport Maritime LTD
Related Party Transaction [Line Items]
Concentration Risk, Percentage	37%
OceanPal Inc. Predecessors \| Revenue Benchmark \| Customer Concentration Risk [Member] \| Vitera Chartering
Related Party Transaction [Line Items]
Concentration Risk, Percentage	28%
OceanPal Inc. Predecessors \| Revenue Benchmark \| Customer Concentration Risk [Member] \| Reachy International
Related Party Transaction [Line Items]
Concentration Risk, Percentage	25%
OceanPal Inc. Predecessors \| Revenue Benchmark \| Customer Concentration Risk [Member] \| Cargill International S.A.
Related Party Transaction [Line Items]
Concentration Risk, Percentage		37%
OceanPal Inc. Predecessors \| Revenue Benchmark \| Customer Concentration Risk [Member] \| Phaethon International Co AG.
Related Party Transaction [Line Items]
Concentration Risk, Percentage		33%
OceanPal Inc. Predecessors \| Revenue Benchmark \| Customer Concentration Risk [Member] \| Uniper Global Commodities, Dusseldorf GE
Related Party Transaction [Line Items]
Concentration Risk, Percentage		11%
OceanPal Inc. Predecessors \| Revenue Benchmark \| Customer Concentration Risk [Member] \| Crystal Sea Shipping Co., Limited
Related Party Transaction [Line Items]
Concentration Risk, Percentage		20%

Transactions with related par_6

Transactions with related parties - DWM (Details) - USD ($)			3 Months Ended	6 Months Ended
Transactions with related parties - DWM (Details) - USD ($)	Mar. 01, 2022	Nov. 29, 2021	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2021	Dec. 31, 2020
Related Party Transaction [Line Items]
Related Party Transaction, Expenses from Transactions with Related Party				$ 411,000
Due from related parties				70,000			$ 70,000
OceanPal Inc. Predecessors
Related Party Transaction [Line Items]
Related Party Transaction, Expenses from Transactions with Related Party					$ 377,671	$ 378,000
Due from related parties			$ 1,392,146		1,392,146			$ 1,169,637
Diana Wilhelmsen Management Limited \| Management fees to related party
Related Party Transaction [Line Items]
Related Party Transaction, Expenses from Transactions with Related Party				342,000
Diana Wilhelmsen Management Limited \| Voyage expenses
Related Party Transaction [Line Items]
Related Party Transaction, Expenses from Transactions with Related Party				102,000
Diana Wilhelmsen Management Limited \| OceanPal Inc. Predecessors
Related Party Transaction [Line Items]
Due from related parties			1,392,146		1,392,146			$ 1,169,637
Diana Wilhelmsen Management Limited \| OceanPal Inc. Predecessors \| Management fees to related party
Related Party Transaction [Line Items]
Related Party Transaction, Expenses from Transactions with Related Party					75,484
Diana Wilhelmsen Management Limited \| OceanPal Inc. Predecessors \| Voyage expenses
Related Party Transaction [Line Items]
Related Party Transaction, Expenses from Transactions with Related Party					$ 16,174
Diana Wilhelmsen Management Limited \| Management services
Related Party Transaction [Line Items]
Variable fee on hire and on freight		1.25%
Threshold term for termination of agreement with prior written notice		3 months
Related Party Transaction, Expenses from Transactions with Related Party			$ 0	$ 444,000
Diana Wilhelmsen Management Limited \| Monthly fee if vessel is employed or available for employment
Related Party Transaction [Line Items]
Related Party Transaction, Expenses from Transactions with Related Party	$ 18,500
Diana Wilhelmsen Management Limited \| Monthly fee if vessel is employed or available for employment \| Management services
Related Party Transaction [Line Items]
Amount agreed to be paid for each vessel		$ 20,000
Diana Wilhelmsen Management Limited \| Monthly fee if vessel is laid-up and not available for employment for at least 15 calendar days of such month
Related Party Transaction [Line Items]
Related Party Transaction, Expenses from Transactions with Related Party	$ 9,250
Diana Wilhelmsen Management Limited \| Monthly fee if vessel is laid-up and not available for employment for at least 15 calendar days of such month \| Management services
Related Party Transaction [Line Items]
Amount agreed to be paid for each vessel		$ 10,000

Transactions with related par_7

Transactions with related parties - Diana Shipping Services S.A., or DSS (Details) - USD ($)	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2021	Dec. 31, 2020
Related Party Transaction [Line Items]
Related Party Transaction, Expenses from Transactions with Related Party	$ 411,000
Due to related parties	$ 210,000			$ 59,000
OceanPal Inc. Predecessors
Related Party Transaction [Line Items]
Related Party Transaction, Expenses from Transactions with Related Party		$ 377,671	$ 378,000
Due to related parties		22,930			$ 115,280
Diana Shipping Services S.A., or DSS \| OceanPal Inc. Predecessors
Related Party Transaction [Line Items]
Due to related parties		22,930			$ 115,280
Diana Shipping Services S.A., or DSS \| OceanPal Inc. Predecessors \| Management fees to related party
Related Party Transaction [Line Items]
Related Party Transaction, Expenses from Transactions with Related Party		302,187	378,000
Diana Shipping Services S.A., or DSS \| OceanPal Inc. Predecessors \| Voyage expenses
Related Party Transaction [Line Items]
Related Party Transaction, Expenses from Transactions with Related Party		$ 94,672	$ 93,343

Vessels (Details)

Vessels (Details) - USD ($)	6 Months Ended		12 Months Ended
Vessels (Details) - USD ($)	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Net Book Value
Net Book Value at the beginning	$ 45,728,000
Net Book Value at the end	$ 48,482,000		$ 45,728,000
OceanPal Inc. Predecessors
Vessel cost
Vessel cost at the beginning		$ 47,405,161	47,405,161
Additions for improvements		29,477
Vessel cost at the end		47,434,638
Accumulated Depreciation
Accumulated depreciation at the beginning		(15,155,862)	(15,155,862)
Depreciation for the period		(1,071,390)
Accumulated depreciation at the end		(16,227,252)
Net Book Value
Net Book Value at the beginning		32,249,299	$ 32,249,299
Additions for improvements		29,477
Depreciation for the period		(1,071,390)
Net Book Value at the end		$ 31,207,386

Vessels - Additional Informatio

Vessels - Additional Information (Details) - USD ($)	6 Months Ended
Vessels - Additional Information (Details) - USD ($)	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Property, Plant and Equipment [Line Items]
Management fees to related parties	$ 411,000
OceanPal Inc. Predecessors
Property, Plant and Equipment [Line Items]
Management fees to related parties		$ 377,671	$ 378,000

Commitments and Contingencies_3

Commitments and Contingencies (Details) - USD ($)			1 Months Ended	6 Months Ended		12 Months Ended
Commitments and Contingencies (Details) - USD ($)	Sep. 23, 2021	Jul. 09, 2020	Feb. 28, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2020	Dec. 31, 2021
Vessels covered for pollution per vessel per incident				$ 1,000,000,000
Due from related parties				$ 70,000			$ 70,000
OceanPal Inc. Predecessors
Vessels covered for pollution per vessel per incident					$ 1,000,000,000
Due from related parties					1,392,146	$ 1,169,637
Minimum contractual gross charter revenue within one year					7,200,000
OceanPal Inc. Predecessors \| Diana Wilhelmsen Management Limited
Due from related parties					$ 1,392,146	1,169,637
OceanPal Inc. Predecessors \| Diana Wilhelmsen Management Limited \| Vessel, Protefs
Security bond placed to cover potential fines and penalties		$ 1,750,000
Due from related parties						1,300,000
Expense recognized for incident						$ 1,000,000
Amount of agreed fine			$ 2,000,000
Probation period subject to court approval			4 years
Litigation settlement expense	$ 2,000,000

Parent Investment (Details)

Parent Investment (Details) - USD ($)	Jun. 30, 2022	Dec. 31, 2021	Jun. 30, 2021	Dec. 31, 2020
Parent investment, net (Note 5)	$ 60,615,000	$ 47,991,000
OceanPal Inc. Predecessors
Parent investment, net (Note 5)			$ 140,925,220	$ 144,274,678

Voyage Expenses (Details)

Voyage Expenses (Details) - USD ($)	6 Months Ended
Voyage Expenses (Details) - USD ($)	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Total	$ 597,000
OceanPal Inc. Predecessors
Commissions		$ 412,008	$ 322,428
Bunkers		(330,454)	212,830
Extra insurance		2,023
Miscellaneous		10,450	16,846
Total		$ 94,027	$ 552,104

Subsequent Events (Details)_2

Subsequent Events (Details) - OceanPal Inc. Predecessors - Diana Wilhelmsen Management Limited - Vessel, Protefs - USD ($) $ in Millions		1 Months Ended
	Sep. 23, 2021	Feb. 28, 2021
Subsequent Event [Line Items]
Litigation settlement expense	$ 2
Amount of agreed fine		$ 2
Probation period imposed by court	4 years