# EDGAR Filing Document

**Accession Number:** 0001869467
**File Stem:** 0000919574-25-004352
**Filing Date:** 2025-8
**Character Count:** 9014
**Document Hash:** a6aec6926c32bcda05e546160ab98f02
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000919574-25-004352.hdr.sgml**: 20250801

**ACCESSION NUMBER**: 0000919574-25-004352

**CONFORMED SUBMISSION TYPE**: SCHEDULE 13D/A

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20250801

**DATE AS OF CHANGE**: 20250801

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** OceanPal Inc.
- **CENTRAL INDEX KEY:** 0001869467
- **STANDARD INDUSTRIAL CLASSIFICATION:** DEEP SEA FOREIGN TRANSPORTATION OF FREIGHT [4412]
- **ORGANIZATION NAME:** 01 Energy & Transportation
- **EIN:** 000000000
- **STATE OF INCORPORATION:** 1T
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-93136
- **FILM NUMBER:** 251175683

**BUSINESS ADDRESS:**
- **STREET 1:** PENDELIS 26
- **STREET 2:** PALAIO FALIRO
- **CITY:** ATHENS
- **STATE:** J3
- **ZIP:** 175 64
- **BUSINESS PHONE:** 30-210-9485-360

**MAIL ADDRESS:**
- **STREET 1:** PENDELIS 26
- **STREET 2:** PALAIO FALIRO
- **CITY:** ATHENS
- **STATE:** J3
- **ZIP:** 175 64
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** DIANA SHIPPING INC.
- **CENTRAL INDEX KEY:** 0001318885
- **STANDARD INDUSTRIAL CLASSIFICATION:** DEEP SEA FOREIGN TRANSPORTATION OF FREIGHT [4412]
- **ORGANIZATION NAME:** 01 Energy & Transportation
- **EIN:** 000000000

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D/A

**BUSINESS ADDRESS:**
- **STREET 1:** PENDELIS 16
- **STREET 2:** 175 64 PALAIO FALIRO
- **CITY:** ATHENS
- **STATE:** J3
- **ZIP:** 00000
- **BUSINESS PHONE:** 30-210-947-0100

**MAIL ADDRESS:**
- **STREET 1:** PENDELIS 16
- **STREET 2:** 175 64 PALAIO FALIRO
- **CITY:** ATHENS
- **STATE:** J3
- **ZIP:** 00000

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## SCHEDULE 13D

### Under the Securities Exchange Act of 1934

**(Amendment No. 5)**

**OceanPal Inc.**

*(Name of Issuer)*

**Common Stock, $0.01 par value per share**

*(Title of Class of Securities)*

**Y6430L202**

*(CUSIP Number)*

**Mr. Ioannis Zafirakis**<br>PENDELIS 26<br>PALAIO FALIRO<br>ATHENS J3 175 64<br>30-210-9485-360

*(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)*

**07/31/2024**

*(Date of Event Which Requires Filing of this Statement)*

| **CUSIP No.** | **Y6430L202** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**DIANA SHIPPING INC.** | Name of reporting person<br>**DIANA SHIPPING INC.** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**WC** | Source of funds (See Instructions)<br>**WC** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**1T** | Citizenship or place of organization<br>**1T** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**4551434.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**4551434.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**0.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**4551434.00** | Aggregate amount beneficially owned by each reporting person<br>**4551434.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**3.29%** | Percent of class represented by amount in Row (11)<br>**3.29%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**CO** | Type of Reporting Person (See Instructions)<br>**CO** | |

---

**Item 1. Security and Issuer**

**(a) Title of Class of Securities:**
Common Stock, $0.01 par value per share

**(b) Name of Issuer:**
OceanPal Inc.

**(c) Address of Issuer's Principal Executive Offices:**
PENDELIS 26, PALAIO FALIRO, ATHENS, J3, 175 64

This Amendment No. 5 (the "Amendment No. 5") to the Schedule 13D amends the statement on Schedule 13D that was originally filed with the U.S. Securities and Exchange Commission (the "Commission") on January 6, 2023 (the "Schedule 13D") as amended on March 2, 2023, October 6, 2023, October 17, 2023 and July 25, 2025 filed by the Reporting Persons (as defined below) relating to the shares of common stock, par value $0.01 per share (the "Shares"), of OceanPal Inc. (the "Issuer").

This Amendment No. 5 is being filed to report a decrease in the percentage ownership of Shares that the Reporting Persons may be deemed to beneficially own though its ownership of the Issuer's Series C Preferred Stock which may be converted into Shares of the Issuer at the Reporting Persons' option (subject to certain ownership restrictions contained in the Series C Preferred Stock statements of designation, the "Statements of Designation") as a result of the increase in the Issuer's outstanding common stock and a change in the Series C Preferred Stock's conversion price.

**Item 4. Purpose of Transaction**

The Reporting Person acquired shares of the Series C Preferred Stock in connection with the spin-off transaction and solely for investment purposes. The Reporting Person, at any time and from time to time, may acquire additional Shares or other securities of the Issuer, including in connection with the provision of any services or other strategic transactions with the Issuer, or dispose of any or all of the Shares, the remaining shares of Series C Preferred Stock held by the Reporting Person or the Shares held by the Reporting Person into which Series C Preferred Stock may be converted, that it owns depending upon an ongoing evaluation of its investment in the shares of the Series C Preferred Stock, the Shares, prevailing market conditions, other investment opportunities, other investment considerations and/or other factors. The Reporting Person further reserves the right to act in concert with any other shareholders of the Issuer, or other persons, for a common purpose should they determine to do so, and/or to recommend courses of action to the Issuer's management, the Issuer's Board of Directors, the Issuer's shareholders and others.

**Item 5. Interest in Securities of the Issuer**

**(a)**
As of July 31, 2025, the Issuer had 137,400,215 Shares outstanding before giving effect to the Reporting Person's conversion of the Series C Preferred Stock. Based on the foregoing, the Reporting Person reports beneficial ownership of the following Shares.

**(b)**
Diana Shipping is the record holder of 3,649,474 Shares representing 2.66% of the Issuer's issued and outstanding Shares and 207 shares of Series C Preferred Stock convertible into Shares representing, in the aggregate with the Shares or other securities conveying beneficial ownership of the Shares then held by Diana Shipping, 3.29% of the Issuer's issued and outstanding Shares. As a result of Diana Shipping's ownership of the Shares reported herein and the remaining shares of Series C Preferred Stock, Diana Shipping has the sole power to vote or direct the vote of 4,551,434 Shares and has the shared power to vote or direct the vote of 0 Shares.

**(c)**
Except as otherwise disclosed herein, no transactions in the Shares were effected by the Reporting Person during the past 60 days.

**Item 6. Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer.**

The Reporting Person also owns 500,000 of additional preferred voting shares of the Issuer that convey the right to cast a number of votes for all matters on which shareholders of the Issuer may vote equal to up to 34% of the total number of votes entitled to be cast by the Issuer's shareholders on such matter, provided that to the extent such voting power, together with any affiliate of the Reporting Person, would exceed 49% of the total number of votes that may be cast on any matter submitted to a vote of the Issuers' shareholders, the number of votes shall be automatically reduced so that the Reporting Person's aggregate voting power, together with its affiliates, is not more than 49%.

### SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** DIANA SHIPPING INC.

**Signature:** /s/ Ioannis Zafirakis

**Name/Title:** Ioannis Zafirakis, Authorized Representative

**Date:** 08/01/2025