Search results for: dry

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  • 2 August 2016
    Business & Finance

    Greece-based owner of drybulk carriers and offshore support vessels DryShips Inc. has been notified by the Nasdaq Stock Market that the company is not in compliance with a Nasdaq Listing Rule as the closing bid of its common stock was below the required minimum. The notification indicates that the closing bid price for 30 consecutive business days, from June 14, […]

  • 13 February 2015
    Business & Finance

    The Baltic Dry Index has fallen to 540 points February 12, marking a further 13 point (-2.35%) slide compared to the previous record low of 553 points reached just a day earlier. Dry bulk owners have seen their earnings slashed as a result of the index fall, some of them even forced to resort to bankruptcy, […]

  • 1 November 2016
    Business & Finance

    Greek owner of drybulk carriers DryShips Inc. has sold five of its Panamax vessels for an aggregate gross price of USD 29.4 million. Namely, two Panamax vessels Amalfi and Samatan, along with their associated bank debt, were sold to entities controlled by the company’s Chairman and CEO, George Economou. As part of the transaction, the […]

  • 24 March 2016

    The Baltic Dry Index has crossed the 400 point benchmark on Wednesday reaching 401 points, a threshold that was lost for quite some time now. Only a month ago, the BDI fell below 300 points, plunging to a new low of 298 points on February 4, fueling further the agony of dry bulk owners desperate for market recovery. The Capesize […]

  • 18 November 2016
    Business & Finance

    The Baltic Dry Index (BDI) jumped by 26 points and reached 1,257 points on November 18, marking its highest level so far in 2016 amid a strong recovery in the dry bulk market over the last month. The Capesize index was up by 21 points reaching 2,752, the Panamax index was up by 35 points to […]

  • 20 May 2016
    Business & Finance

    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 […]

  • 18 June 2018
    Business & Finance

    DryShips is steaming ahead with its fleet rejuvenation strategy and shedding of older tonnage. 

  • 15 September 2016
    Business & Finance

    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 […]

  • 4 January 2017
    Business & Finance

    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 […]

  • 27 April 2016

    A recent Capesize market uptick, caused by an increase in iron ore trade, higher steel prices and a rise in scrapping, has revealed its impact as the Baltic Dry Index continued to grow, reaching a mark of 704 points on April 26, up by 14. The Capesize index was up by 48 points, hitting 1135, the Supramax index saw a slight rise […]

  • 18 April 2016

    The Baltic Dry Index (BDI) has experienced a further increase with the continued recovery of the dry bulk shipping industry as it surged by 38 points to a mark of 635 points on April 15. The Capesize index was up by 118 points reaching 949, while the Panamax and Supramax indexes were up by 27 and 11 points, respectively, resulting […]

  • 7 April 2016
    Business & Finance

    As the dry bulk market is currently experiencing a slight recovery, the Baltic Dry Index (BDI) jumped by 13 points and reached 500 points on April 6, marking the highest level so far in 2016. The Capesize index was up by 11 points reaching 477, the Panamax index was up by 23 points hitting 619, while the Supramax index […]

  • 9 May 2018
    Business & Finance

    Greek shipowner DryShips signed sale and leaseback agreements for six bulkers with Chinese lenders.

  • 22 July 2015
    Business & Finance

    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 […]

  • 5 October 2017
    Business & Finance

    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 […]

  • 24 May 2017
    Business & Finance

    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 […]

  • 26 February 2015
    Business & Finance

    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 […]

  • 3 April 2015
    Business & Finance

    The Hong Kong-listed dry bulk specialist Pacific Basin Limited expects the market in the second quarter of 2015 to remain weak as sluggish demand fails to fully absorb the oversupply of ships built up in 2010-2012, but also sees some potential signs of improvement. The main indicator which could maybe help improve the dry bulk rates […]

  • 22 July 2015
    Business & Finance

    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 […]

  • 31 January 2017
    Business & Finance

    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 […]

  • 1 May 2017
    Business & Finance

    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 […]

  • 24 November 2016
    Business & Finance

    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 […]