OceanPal sells remaining vessels to Paliou affiliate in pivot to crypto and AI
OceanPal (Nasdaq: OCEA) said it sold its entire interest in OP Vessel Holdco to Sezali Inc, an affiliate of former chair Semiramis Paliou, on July 31. The deal covered four vessels and a stake in RFSea Infrastructure II, with no cash paid. OceanPal cancelled Series C preferred shares and $5m notes. OceanPal is pivoting to crypto and AI, holding NEAR tokens.
How this was made
The 30-second read
Why it matters
The July 31 sale closes OceanPal’s remaining shipping chapter by transferring vessels and cancelling preferred-share and promissory-note instruments, but it also leaves investors focused on NEAR price exposure and near-term Nasdaq reporting compliance.
Market read
Traders may reprice OceanPal as a near-pure-play on NEAR-linked treasury economics while monitoring compliance risk from the overdue 2025 annual report.
What to watch
OceanPal remains out of Nasdaq compliance due to missing its 2025 annual report, and the article flags possible differences in accounting treatment and remaining contingent liabilities.
Background
OceanPal, spun off from Diana Shipping in 2021, began pivoting in October 2025 toward a digital-asset and AI business centered on NEAR token holdings.
Ticker impact
OceanPal sold its entire interest in OP Vessel Holdco to Sezali on July 31, transferring four vessels and cancelling Series C preferred and $5m notes.
Near-term volatility risk remains elevated because the company’s strategy and share price are acknowledged to be linked to NEAR.
The article discloses a concrete asset exit and balance-sheet instrument cancellation, but it also notes OceanPal has not disclosed fleet valuation and may face contingent liabilities, limiting precision on net asset impact.
Market effects
Highlights a broader shift of shipping-linked public vehicles into crypto treasuries, potentially increasing cross-asset correlation with token prices.
Greek shipping capital recycling into digital-asset strategies may influence investor perception of Hellenic maritime sponsors.
Methanol-ready tanker newbuild exposure is being exited via a related-party structure, reducing near-term shipping asset sensitivity for this issuer.
Counterpoint
Because no cash changed hands and fleet valuation is not disclosed, the transaction may be more about restructuring than value creation, limiting upside from the “no ships” narrative.
Key entities
- public companyOceanPal
Nasdaq-listed issuer that sold its remaining shipowning subsidiary interest and is pivoting to a NEAR treasury and AI services model.
- affiliated companySezali Inc
Buyer of OceanPal’s OP Vessel Holdco interest; affiliated with OceanPal’s former chairwoman and current Diana Shipping CEO Semiramis Paliou.
- executiveSemiramis Paliou
Former OceanPal chairwoman and director who is affiliated with the buyer and resigned in October 2025.
- crypto assetNEAR Protocol (NEAR)
OceanPal’s treasury concentration and the token whose price the company says may closely link to its share price.
