OceanPal Inc. (OP) in Athens, Greece, provides ocean-going transportation services worldwide. The company spun off from its parent company Diana Shipping Inc. (DSX), on Nov. 29, 2021. Since the beginning of the year, OP has been losing momentum owing to the omicron scare, which has been aggravated by worsening supply chain disruptions, rising inflation, and geopolitical tensions. OP stock has slumped 65.6% in price year-to-date and 85.8% over the past year.
However, the global shipping industry is expected to grow rapidly in the coming months, driven by sustained demand, persistent supply chain disruptions, rapid digitization, and automation in shipping and logistics services. Shipping prices are soaring due to the Russia-Ukraine war , which should boost the profit margins of fundamentally sound shipping companies.
