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Nasdaq-listed owner of drybulk carriers and tankers DryShips Inc.has entered into agreement with one of its charterers to write-off about USD 16.5 million in overdue receivables related to charter hire payments due on 11 vessels on time charter. As part of the transaction, the charterer has agreed to forgo the exercise of certain “in-the-money” purchase options […]
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Greek owner of drybulk carriers and offshore support vessels DryShips has completed the USD 200 million common stock offering, raising USD 198 million that will be used for rebuilding the company’s fleet. In December 2016, the firm entered into an agreement with Kalani Investments Limited, an entity organized in the British Virgin Islands, to sell the […]
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DryShips is steaming ahead with its fleet rejuvenation strategy and shedding of older tonnage.
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Greece-based owner of drybulk carriers DryShips Inc. is ready to start looking at acquisitions as it signed a new refinancing deal with Sifnos Shareholders, an entity controlled by the company’s Chairman George Economou. The deal was reached for the previously announced refinancing of the majority of DryShips’ outstanding debt under the new senior secured revolving […]
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Greece-based owner of drybulk carriers and offshore support vessels DryShips has agreed with Sifnos Shareholders to convert USD 8.75 million of outstanding principal amount under the previously announced secured revolving facility deal to 3.5 million preferred shares. The company said that each preferred share will have 100,000 votes. In addition, Sifnos has agreed to provide a 90 day […]
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Greece-based owner of drybulk carriers and offshore support vessels DryShips Inc. reported a net income of USD 55.4 million for the first quarter of 2016, against the net loss of USD 59.2 million reached in the same period a year earlier. The net income includes the company’s vessel impairment charges and loss on sales, which were at USD 40.8 […]
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Greek shipowner DryShips signed sale and leaseback agreements for six bulkers with Chinese lenders.
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Nasdaq-listed DryShips reported a net loss of USD 24 million for the fourth quarter of 2014, a slight improvement compared to a USD 24.4 million loss recorded for the same period in 2013. The dry bulk and petroleum shipper says the company would have ended the fourth quarter with a USD 14.1 million profit, had it not been […]
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Nasdaq-listed owner of drybulk carriers and tankers DryShips Inc.has entered into agreement with one of its charterers to write-off about USD 16.5 million in overdue receivables related to charter hire payments due on 11 vessels on time charter. As part of the transaction, the charterer has agreed to forgo the exercise of certain “in-the-money” purchase options […]
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Greek shipowner DryShips has raised USD 100 million of gross proceeds from its rights offering of shares, the company said. The gross proceeds amount includes a USD 99.2 million investment by Sierra Investments, which is affiliated with DryShips’ Chairman and Chief Executive Officer, George Economou, the company said. Namely, DryShips inked a backstop purchase agreement […]
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Athens-based shipowner DryShips has taken delivery of the 159,855 deadweight tons newbuilding Suezmax tanker. The vessel was acquired from and chartered out to entities affiliated with the company’s Chairman and Chief Executive Officer, George Economou, the company informed. The vessel is the company’s sixth newly acquired ship. It was chartered back to the seller and on […]
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Greek ship owner DryShips has plunged further into the red as its net and operating losses increased during the three-month period ended September 30. The company’s net loss for the three months reached USD 17.9 million, compared to a net loss of USD 5.2 million reported in the same period in 2016. While operating loss […]
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Greek owner of drybulk carriers DryShips Inc. has exercised its second option to acquire a very large gas carrier (VLGC) for a price of USD 83.5 million. The VLGC will be employed on a fixed rate time charter with five years firm duration to an undisclosed oil major. The charterer has options to extend the firm […]
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Greece-based ship owner DryShips Inc. has entered into a one year time charter with a major grain house for one of its 206,000 dwt Newcastlemax drybulk vessels. A total gross backlog of USD 7.1 million is expected from the contract, which is scheduled to commence upon the delivery of the vessel before the end of April […]
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Athens-based owner of drybulk carriers DryShips has taken delivery of two Newcastlemax bulk carriers built in 2013. Featuring around 205,100 dwt each, the bulkers in question are the second and the third ships from the batch of four Newcastlemaxes which DryShips bought earlier this year for a total of USD 124 million. One ship will be employed […]
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Athens-based shipowner DryShips is keeping busy with fleet expansion as it has taken delivery of two second-hand ships this week. Namely, a 82,129 deadweight tons Kamsarmax drybulk carrier built in 2014 has been delivered to the company earlier this week. The Kamsarmax was followed by the delivery of a 320,105 deadweight tons very large crude carrier […]
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Nasdaq-listed ship owner DryShips said it has inked a deal to acquire one 82,129 DWT Kamsarmax drybulk carrier built in 2014, the company said. The ship will be financed with approximately USD 24 million using cash on hand. DryShips expects to take delivery of the vessel during the second quarter of 2017. Earlier this week, the ship […]
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Greek owner and operator of dry bulk carriers and offshore support vessels DryShips has delivered the Panamax bulk carrier M/V Sorren to an unnamed buyer, completing the sale of five ships. The 76,600 dwt vessel, which has been renamed to Despina D, was sold for USD 6.7 million. Featuring a length of 225 meters and a width […]
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Greek shipowner DryShips has taken delivery of its tenth ship so far this year, a 81,300 deadweight tons newbuilding re-sale Kamsarmax drybulk carrier. The newbuilding delivery pushed the company’s Kamsarmax fleet to five ships, which also include four second-hand vessels delivered in the second quarter of 2017. The company inked a deal in April to purchase three Kamsarmax drybulk […]
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Owner and operator of ships DryShips Inc. has entered into firm sales agreements with entities controlled by the company’s Chairman and Chief Executive Officer, George Economou, to sell its four Suezmax tankers. The tanker fleet, comprised of Vilamoura, Lipari, Petalidi and Bordeira, is to be sold for an en-bloc sales price of USD 245 million. […]
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DryShips delivered a profit in the 2Q of 2018, driven by an improvement in TCE rates.
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Owner and operator of drybulk carriers and tankers DryShips has received notification from the Nasdaq Stock Market, indicating that because the closing bid price of the company’s common stock for the last 30 consecutive business days was below $1.00 per share, the company no longer met Nasdaq’s minimum bid price requirement. Pursuant to the Nasdaq Listing […]
