ATHENS, Greece, March 26, 2026 /PRNewswire/ -- OceanPal Inc. (NASDAQ:SVRN) (the "Company" or "OP"), a global shipping company and digital asset treasury operator, today announced its financial results for the fiscal year ended December 31, 2025, alongside financial guidance for the fiscal year 2026. 2025 represented a defining milestone in the Company's evolution. During the year, OceanPal established SovereignAI Services LLC, a wholly-owned subsidiary through which the Company became the first publicly traded corporate treasury vehicle with exposure to NEAR Protocol. Since launching its new business, OceanPal has welcomed Richard Muirhead, Peter Marton, and James Gereghty to its board of directors, each contributing specialized knowledge in digital assets and regulatory affairs to bolster the Company's governance framework and oversight of its digital asset activities, which, coupled with the four remaining OceanPal directors, gives the Company a good balance of shipping and crypto expertise.

2025 Financial Highlights

($ in Millions USD)

2025 (unaudited)

2024

Change

Vessel Revenues

$13.4

$25.7

$(12.3)

Staking Reward Income¹

$0.7

—

N/A

Total Revenue and Other Income

$14.1

$25.7

$(11.6)

Operating Loss

$(31.4)

$(18.0)

$(13.4)

Net Loss

$(65.2)

$(17.9)

$(47.3)

Net Loss attributable to Common Stockholders

$(70.0)

$(19.7)

$(50.3)

AVERAGE DAILY RESULTS (in USD)

Time charter equivalent (TCE) rate2

$9,123

$12,184

$(3,061)

Daily vessel operating expenses3

$5,987

$6,568

$(581)

 

Balance Sheet Highlights

($ in Millions USD)

Dec 31, 2025 (unaudited)

Dec 31, 2024

Change

Cash and Cash Equivalents

$33.2

$7.2

+$26.0

Digital Assets at Fair Value

$77.5

—

N/A

Vessels, net

$40.8

$71.3

$(30.5)

Total Assets

$165.5

$89.5

+$76.0

Total Liabilities

$8.9

$5.1

+$3.8

Total Stockholders' Equity

$156.6

$84.4

+$72.2

(See financial tables attached)

 

2026 Financial Guidance

($ in Millions USD, except for NEAR's token price)

SHIPPING SEGMENT

Vessel Revenue8

$13.0 - $14.0

Shipping Operating Costs9

$(11.5) - $(12.5)

Shipping EBITDA

$1.5 - $2.5

SOVEREIGNAI SEGMENT

Current Spot5

2025 Avg. Price6

2025 High Price7

NEAR Price Assumption

$1.30

$2.73

$6.23

Staking Revenue10

$3.6

$7.6

$17.1

SovereignAI Opex11

$(3.1)

$(3.1)

$(3.1)

SovereignAI EBITDA

$0.5

$4.5

$14.0

CONSOLIDATED

$1.30 NEAR

$2.73 NEAR

$6.23 NEAR

Total Revenue

$16.6 - $17.6

$20.5 - $21.5

$30.1 - $31.1

Corporate G&A12

$(2.1)

$(2.1)

$(2.1)

Adjusted EBITDA4

$(1.1) - $0.9

$2.9 - $4.9

$12.4 - $14.4

Key Fundamentals:

Total assets of $165.5 million, including $77.5 million in NEAR Protocol digital assets and $33.2 million in cash and cash equivalents.

Approximately 51.3 million NEAR tokens are held on the balance sheet (in addition to 2.85 million NEAR tokens reported as collateral receivable for derivatives positions), generating a 5.0% target annualized yield—producing approximately 2.75 million NEAR tokens per year in protocol rewards.

Both operating segments are projected to be EBITDA-positive during 2026: shipping segment generating $1.5–$2.5 million in EBITDA, and SovereignAI is self-funding with staking income exceeding subsidiary operating costs across all guidance scenarios.

Approximately three years of operating capital on hand; ability to fund operations from revenue without liquidating digital asset holdings.

First publicly traded NEAR Protocol treasury company, providing institutional-grade exposure to the NEAR ecosystem through a regulated public vehicle.

Three-vessel fleet operating with no scheduled drydockings in 2026, materially lower vessel operating expenses versus FY 2025.