DryShips Sells MV Oregon

  • Business & Finance

Greek shipping company DryShips Inc. has sold the 2002-built Panamax drybulk carrier MV Oregon.

The 74,200 dwt MV Oregon, along with the associated bank debt, was sold to an entity controlled by the company’s chairman and CEO George Economou.

The vessel was sold for a 10% premium to fair market value, as supported by independent third party broker valuations, DruShips said, without revealing the purchase price.

Following this transaction, the current outstanding balance under the company’s senior secured revolving facility agreement has been increased to USD 10.8 million.

This is the second dry bulker DryShips has sold in September. Earlier this month, the company sold the 2000-built, 75,706 dwt MV Coronado for a gross price of USD 4.25 million.

DryShips currently owns a fleet of 18 Panamax drybulk carriers with a combined deadweight tonnage of approximately 1.3 million tons, as well as  6 offshore supply vessels, comprising 2 platform supply and 4 oil spill recovery vessels.

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