DryShips Adding Three Kamsarmax Bulkers

  • Business & Finance

Greece-based ship owner DryShips has entered into agreements with unaffiliated third parties to purchase three Kamsarmax drybulk carriers built in 2014.

Under the deals, the 81,918 dwt Kamsarmax and the other two ships, featuring 81,129 dwt each, are expected to join their new owner during the second quarter of 2017.

DryShips, which has now physically inspected and accepted the two 81,129 dwt second-hand drybulk vessels, said that it plans to finance the total gross purchase price of some USD 68 million using cash on hand, which currently stands at USD 429 million.

“We are very pleased to have further grown the size of our drybulk fleet to 21 drybulk carriers through the acquisition of three modern vessels, which will also rejuvenate the average age of our fleet. The above acquisition allows us to immediately deploy our available liquidity and is expected to be accretive to our earnings and cash flows,” George Economou, Chairman and Chief Executive Officer, said.

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