Photo: Illustration; Image Courtesy: Pixabay under CC0 Creative Commons license

DryShips Agrees to Sell One of Its Panamaxes

Athens-based ship owner and operator DryShips has reached an agreement with an unaffiliated buyer for the sale of one of its 2001-built Panamax drybulk carrier.

The vessel is scheduled for delivery to its buyer no later than the end of this month.

DryShips infomed that it expects to realize a gain on vessels sales compared to the book value of this asset.

As of August 15, and not giving effect to any pending vessel transactions, the company operates a fleet of 33 vessels, including eight Panamax drybulk vessels.

The company earlier informed that it managed to deliver a net income of USD 3.5 million in the second quarter of the year ended June 30, 2018, against a net loss of USD 15.6 million seen a year earlier.

Revenues for the period surged to USD 43.2 million from USDĀ 16.4 million reported in the same period a year earlier.