OceanPal
OceanPal Inc. (NASDAQ: SVRN) is a Marshall Islands-incorporated holding company operating a global shipping division with three vessels alongside digital asset treasury subsidiary SovereignAI, which accumulates NEAR tokens and builds confidential AI cloud infrastructure on NEAR Protocol for enterprise markets.
- Company typePublic
- Founded2021
- HeadquartersAthens, Greece
- Headcount1–10
- GTM typeB2B
- OfferingServices
What OceanPal does
OceanPal Inc. (NASDAQ: SVRN, formerly OP) is a Marshall Islands-incorporated public holding company operating two distinct business segments: a maritime shipping division and a digital asset treasury/AI infrastructure subsidiary called SovereignAI Services LLC. The maritime division provides global shipping transportation services through ownership of three vessels—two Panamax dry bulk carriers (Calipso, Melia) and one MR2 product tanker (Zeze Start)—transporting iron ore, coal, grain, and refined petroleum products under time charter and voyage charter contracts with major international charterers including Koch Shipping, Louis Dreyfus, Hyundai Glovis, and Five Ocean Corporation. Technical management is outsourced to Diana Wilhelmsen Management Limited and Barber Tanker Management GmbH & Co. KG, while commercial and administrative services are provided by Steamship Shipbroking Enterprises Inc. and Sea Transportation Inc. at the Athens, Greece headquarters. The company was spun off from Diana Shipping Inc. in November 2021.
OceanPal firmographics
Firmographics- Name
- OceanPal
- Legal name
- OceanPal Inc.
- Website
- https://oceanpal.com
- Company type
- Public
- Founded year
- 2021
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- OceanPal Inc. (NASDAQ: SVRN) is a Marshall Islands-incorporated holding company operating a global shipping division with three vessels alongside digital asset treasury subsidiary SovereignAI, which accumulates NEAR tokens and builds confidential AI cloud infrastructure on NEAR Protocol for enterprise markets.
- Ownership category
- akta.pro rank
OceanPal industry classification
Industry- Product category
- Maritime Shipping
- NAICS
- Deep Sea Freight Transportation (483111), Water Transportation (483)
- SIC
- Deep Sea Foreign Transportation Of Freight (4412), Water Transportation (4400)
- akta.pro primary industry
- Bulk Dry Cargo Carriers (Capesize/Panamax/Supramax/Handysize) (TLADABAC)
Keywords
Where OceanPal is headquartered
LocationHeadquarters
- HQ city
- Athens
- HQ country
- Greece
- HQ region
- Europe
Offices2 records
Markets served
OceanPal business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Operations, Personnel, Technology or R&D, Infrastructure, Supply Chain, Marketing or Sales
Revenue model
- Shipping Transportation Services: Time charter contracts and voyage charters for dry bulk vessels and tanker vessels. Revenue generated from transporting commodities including iron ore, coal, grain, and refined petroleum products on worldwide shipping routes.
- Digital Asset Treasury Management: NEAR token treasury management through SovereignAI subsidiary, generating yield through derivative overlays and options strategies. Holdings of approximately 51.3-55 million NEAR tokens valued at over $133 million.
Go-to-market motion1 record
Distribution channels1 record
Marketing channels5 records
OceanPal product offering
Product offeringCore offering
OceanPal Inc. is a global provider of shipping transportation services that owns and operates dry bulk vessels (Panamax and Capesize) and product tankers (MR2), transporting commodities such as iron ore, coal, grain, and refined petroleum products via time and voyage charter contracts. In October 2025, OceanPal launched SovereignAI Services LLC as a wholly-owned subsidiary to implement a digital asset treasury strategy focused on NEAR Protocol tokens and to develop confidential AI cloud infrastructure using NVIDIA technology.
Product overview
OceanPal operates as a diversified company with two primary business segments. The core maritime division provides global shipping transportation services through ownership of dry bulk vessels (2 Panamax) and an MR2 tanker vessel. In October 2025, OceanPal launched SovereignAI as a wholly-owned subsidiary to implement a digital asset treasury strategy focused on commercializing the NEAR Protocol blockchain. SovereignAI accumulates NEAR tokens through yield strategies and builds confidential AI cloud infrastructure using NVIDIA technology, with the goal of enabling user-owned, privacy-preserving AI systems for enterprise markets. The company rebranded to SVRN (Nasdaq: SVRN) in November 2025 to reflect this strategic evolution.
Differentiator
Problem solved
Functional benefit
Brands
- SovereignAI: Wholly-owned subsidiary focused on digital asset treasury strategy and blockchain-native AI infrastructure using NEAR Protocol technology.
Products and services
- OceanPal Maritime Division Global shipping transportation services through ownership of dry bulk carriers (Panamax and Capesize) and product tankers (MR2), transporting bulk commodities such as iron ore, coal, grain, and refined petroleum products worldwide under time charter and voyage charter contracts.
- SovereignAI Confidential AI Cloud Infrastructure Blockchain-native confidential AI cloud infrastructure built on the NEAR Protocol using NVIDIA technology, enabling privacy-first, regulatory-compliant AI systems with user-owned data control and autonomous agent commerce capabilities for enterprise markets.
- NEAR Token Treasury Strategy Digital asset treasury management strategy accumulating NEAR tokens through yield-generating derivative overlays and options strategies, while providing public-market exposure to NEAR Protocol blockchain growth. Treasury holdings of approximately 51.3-55 million NEAR tokens valued at over $133 million.
Quantifiable outcome
- Treasury yield of 5.3%+ gross APY before fees on NEAR holdings
- +2 more outcomes
Companies that use OceanPal
Customer profileNamed customers11 records
Segments2 records
Ideal customer profiles2 records
OceanPal technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
AI capability4 records
Feature3 records
OceanPal partnerships and signals
Strategic signalPartnerships
Eleven partnerships are on record, tiered core and minor.
- G-20 GroupcoreAppointed as asset manager for NEAR treasury yield strategy, deploying NEAR holdings through risk-managed derivative overlays to generate yield while preserving liquidity for AI infrastructure growth.
- NEAR FoundationcoreStrategic partnership to launch SovereignAI subsidiary focused on commercializing the NEAR Protocol blockchain. $120M PIPE investment to implement digital asset treasury strategy acquiring NEAR tokens. Illia Polosukhin, CEO & co-founder of NEAR Foundation, chairs the SovereignAI Advisory Board.
- SovereignAI Advisory Board MemberscoreAdvisory board chaired by Illia Polosukhin (NEAR Foundation CEO) with members including Lukasz Kaiser (OpenAI), Richard Muirhead (Fabric Ventures), Philippe Sachs (Nscale), Andy Brown (Sandhill East), and Jackie Kennedy (Quicknode). Provides access to AI experts, hyperscalers and infrastructure companies.
- Reed Smith LLPminorLegal advisor to NEAR Foundation and represents SovereignAI following the closing of the PIPE offering.
- Paul Hastings LLPminorLegal advisor to Clear Street LLC and Cohen & Company Capital Markets in the $120M PIPE transaction.
- Seward & Kissel LLPminorLegal advisors to OceanPal Inc. for the $120M PIPE transaction.
- RFSea Infrastructure II ASminorNorwegian entity in which OceanPal invested as strategic partner for construction of two 6,600 dwt methanol-ready chemical tanker newbuildings at Wuhu Shipyard Co., Ltd.
- Diana Wilhelmsen Management LimitedcoreTechnical management of fleet vessels ensuring highest standards of safety and efficiency. Part of Wilhelmsen Ship Management group.
- Barber Tanker Management GmbH & Co. KGcoreTechnical management partner for tanker vessel operations ensuring operational efficiency and safety standards.
- Steamship Shipbroking Enterprises Inc.coreCommercial and administrative services partner for vessel operations. Located at company's headquarters address in Athens.
- Sea Transportation Inc.coreCommercial and administrative services partner for fleet operations.
Scale indicators6 records
Recent moves8 records
Expansion highlights6 records
OceanPal competitors and assessment
Company assessmentDirect peers
- Diana Shipping Inc. OceanPal's former parent and a direct dry bulk shipping peer; OceanPal still acquires vessels from and shares management relationships with Diana Shipping, making it the closest comparable for fleet operations, chartering approach, and Greek-shipping governance profile.
- Star Bulk Carriers Corp. Large pure-play dry bulk shipper (Capesize/Newcastlemax/Supramax/Handysize). Directly comparable vessel mix, customer base, and exposure to dry bulk charter rates; serves as a useful scale benchmark versus OceanPal's small fleet.
- Genco Shipping & Trading Limited: NYSE-listed dry bulk carrier operating Capesize and Ultramax vessels. Comparable business model (charter-out to commodity traders and miners) and customer overlap with Koch, Louis Dreyfus, and similar counterparties.
- Safe Bulkers Inc. Greek-based dry bulk shipper with Panamax, Kamsarmax, Capesize, and Post-Panamax vessels. Closely matches OceanPal's Panamax-tilted fleet profile and Greek-shipping operational structure.
- Eagle Bulk Shipping Inc. Supramax/Ultramax dry bulk specialist with similar charter-out model serving commodity traders and industrial end users. Comparable vessel size class and customer overlap.
- Golden Ocean Group Limited: Major Capesize and Panamax dry bulk operator (formerly John Fredriksen's dry bulk platform). Relevant for benchmarking large-vessel exposure, charter strategy, and capital structure.
- Scorpio Tankers Inc. Product tanker (MR) pure-play. Closest direct peer for OceanPal's Zeze Start MR2 tanker and provides a read on the refined-petroleum product tanker market OceanPal has expanded into.
- Ardmore Shipping Corporation: Mid-size product and chemical tanker operator. Comparable MR-class product tanker exposure and similar chartering model to commodity traders and energy companies.
Broad incumbents
- MicroStrategy Incorporated (Strategy): Largest public-company digital asset treasury vehicle (Bitcoin). Closest comparable for the 'public equity wrapper around a crypto treasury' model that OceanPal/SovereignAI is pursuing with NEAR tokens.
Regional players
- DHT Holdings Inc. VLCC tanker operator (different vessel class but same shipping public-equity structure). Useful as a benchmark for how small public shipping companies manage balance sheet, leverage, and Nasdaq/NYSE listing standards.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
OceanPal social profiles
Digital presenceOceanPal financial estimates
Financial estimateRevenue estimate
Valuation estimate
OceanPal leadership team
Management profileNumber of profiles
Profiles5 records
OceanPal subsidiaries and ownership
Company hierarchySubsidiaries2 records
OceanPal funding detail
Funding detailFunding overview
Funding rounds4 records
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
OceanPal M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about OceanPal
What does OceanPal do?
OceanPal Inc. is a global provider of shipping transportation services that owns and operates dry bulk vessels (Panamax and Capesize) and product tankers (MR2), transporting commodities such as iron ore, coal, grain, and refined petroleum products via time and voyage charter contracts. In October 2025, OceanPal launched SovereignAI Services LLC as a wholly-owned subsidiary to implement a digital asset treasury strategy focused on NEAR Protocol tokens and to develop confidential AI cloud infrastructure using NVIDIA technology.
Is OceanPal a public or private company?
OceanPal is a public company. It is classified as public and is currently operating.
When was OceanPal founded?
OceanPal was founded in 2021. It employs 1 to 10 people.
Where is OceanPal based?
OceanPal is headquartered in Athens, Greece, in the Europe region.
How does OceanPal make money?
Two revenue lines are on record. Shipping Transportation Services are the primary driver. The others are digital Asset Treasury Management.
Who are OceanPal's main competitors?
Direct peers on record are Diana Shipping Inc., Star Bulk Carriers Corp., Genco Shipping & Trading Limited, Safe Bulkers Inc., Eagle Bulk Shipping Inc., Golden Ocean Group Limited, Scorpio Tankers Inc. and Ardmore Shipping Corporation. MicroStrategy Incorporated (Strategy) is listed as a broad incumbent. DHT Holdings Inc. is listed as a regional player.
Does OceanPal have an API?
No public API is recorded for OceanPal.
What industry is OceanPal in?
OceanPal's product category is Maritime Shipping. Its primary akta.pro industry code is TLADABAC, Bulk Dry Cargo Carriers (Capesize/Panamax/Supramax/Handysize). Its NAICS code is 483111 and its SIC code is 4412.