Greek Shipowner Semiramis Paliou Reclaims OceanPal Fleet, Ends Less Than Five Years in Shipping
Greek shipowner Semiramis Paliou has taken back OceanPal’s entire remaining fleet via an affiliated entity, effectively ending OceanPal’s short-lived shipping operations spun off from Diana Shipping. The transaction, completed on July 31, involved the sale of OceanPal’s interests in four vessels and a Norwegian chemical tanker joint venture to Sezali Inc, a company affiliated with Paliou. No cash was exchanged; instead, OceanPal canceled preferred stock and promissory notes totaling about $17.19 million.
OceanPal’s vessels included Panamax bulk carriers Calipso and Melia, the MR2 tanker Zeze Start, and stakes in the RFSea Infrastructure II venture, which features two methanol-ready chemical tanker newbuilds. Although the fleet’s estimated value was around $40.8 million at the end of 2025, the company has not disclosed detailed valuations or liabilities related to the subsidiary.
Following this transaction, OceanPal has fully transitioned away from shipping and now focuses on digital assets and artificial intelligence through SovereignAI Services, managing a treasury concentrated in NEAR cryptocurrency. The company raised $120 million in late 2025 to acquire NEAR tokens and currently holds over 55 million tokens, reflecting a strategic pivot from maritime operations to blockchain and AI infrastructure.
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