Photo: Source: Pixabay under CC0 Creative Commons license

DryShips to Invest Up to USD 100 Mn in Scrubbers, Ballast Systems

Greek ship owner and operator DryShips is looking to invest up to USD 100 million for the installation of scrubbers and ballast water systems on its fleet.

The company said that during 2019, it has scheduled and started implementing an overall “future proofing plan” for its vessels by performing dry-dockings.

As a result, DryShips expects to incur between 1,100-1,300 off-hire days for a total estimated cost of USD 80 million – USD 100 million during the period from 2019 to 2020.

The company unveiled the plans as part of its first quarter of 2019 financial report.

For the quarter ended March 31, 2019, DryShips reported a net income of USD 1.5 million, slightly up from USD 1.2 million reported in the same period a year earlier. Included in the first quarter of 2019 results are vessel dry-docking costs of USD 0.7 million.