OCEANPAL, of Semiramis Paliou’s interests, is entering a market that dominates the world’s largest stock exchange boards.
The subsidiary SovereignAI is building a bridge between technology and shipping, while Ms. Paliou continues to build a multi-dimensional portfolio, from offshore wind and LPG carriers to the further opening of the “fan” of parallel investments in other companies, such as the major acquisition move of 15% of Genco, which controls a fleet of 43 vessels.
The turn to the digital era concerns the new digital platform, which, leveraging NVIDIA technology and the NEAR Protocol, will create a digital ecosystem that will support AI agents – autonomous systems capable of managing assets and making financial decisions, guided by privacy and transparency.
SovereignAI aspires to operate as the leading public investment vehicle with exposure to the NEAR token and the foundations of the new AI economy, while OceanPal intends to invest gradually with the aim of acquiring up to 10% of the total supply of the NEAR token.
Sal Ternullo, co-CEO of OceanPal, spoke of “a unique convergence opportunity of shipping, artificial intelligence and blockchain,” while David Schwed, COO, emphasized that “SovereignAI is at the intersection of two massive transformations – artificial intelligence and digital ownership.”
The initiative is supported by significant advisors and investors from the NEAR ecosystem, such as Illia Polosukhin (CEO & co-founder NEAR Foundation) and executives from Fabric Ventures, OpenAI, Nscale, Sandhill East and Quicknode.
Concurrently, OceanPal, listed on NASDAQ, continues its core activity in dry bulk and petroleum product sea transport, managing a fleet of three vessels.
In fact, last July it raised $18 million through a public offering of approximately 11 million shares.
This move is part of a broader diversification strategy that Semiramis Paliou has charted in recent years, expanding the group’s activities beyond traditional dry bulk.
It is noted that Diana Shipping has dynamically entered the offshore wind energy market, through the Windward Offshore joint venture, together with Blue Star Group, SeaRenergy Offshore Holding and SeraVerse GmbH.
The joint venture has already ordered four Commissioning Service Operation Vessels (CSOVs) at the Vard shipyard, a subsidiary of Fincantieri, with deliveries scheduled for 2025-2026.
The vessels will feature hybrid propulsion and the capability to operate on green methanol.
Semiramis Paliou had characterized this investment as yet another proof of her commitment to a greener and more sustainable future, noting that it begins an exciting journey expected to contribute to a cleaner and more environmentally friendly world.
Concurrently, Diana Shipping is entering the LPG carriers market through the Ecogas Holding AS joint venture, in which it holds an 80% stake in two newbuild vessels with a capacity of 7,500 cubic meters, with an option for two additional vessels.
The first is expected to be delivered in the first quarter of 2027 and the second at the end of the same year.
It is noted that Diana Shipping is celebrating 20 years of presence on the New York Stock Exchange this year, with a fleet of 36 vessels (combined capacity of 4.1 million dwt).
dwt) and an average age of 11.9 years.
Concurrently, it expects the delivery of two kamsarmax dual-fuel methanol vessels by 2028.
On the financial front, the company increased its stake in Genco Shipping & Trading to 14.93%, investing approximately $103.5 million and making Diana the largest shareholder of Genco.
The move is characterized by analysts as strategic, as Genco is considered one of the most reliable dry bulk companies on Wall Street, with a fleet of 43 vessels and a total capacity of 4.6 million dwt.
Despite Genco’s adoption of a temporary “poison pill” plan to protect its shareholders, Semiris Palou has made it clear that the investment was made with equity capital and is aimed at long-term value.
