rss icon Subscribe
desktop mobile

DryShips Acquires Three Kamsarmax Bulkers

By Aiswarya Lakshmi

DryShips has entered into agreements with unaffiliated third parties to purchase three Kamsarmax drybulk carriers built in 2014.

One 81,918 DWT Kamsarmax drybulk carrier is built in 2014. The company expects to take delivery of this vessel during the second quarter of 2017.
Two 81,129 DWT Kamsarmax drybulk carriers are also built in 2014. The purchase of these two second-hand Kamsarmaxes was previously announced and the company has now physically inspected and accepted the vessels.
The company will finance the total gross purchase price of approximately $68 million using cash on hand, which currently stands at $429 million.
George Economou, DryShips Chairman and Chief Executive Officer, commented, "We are very pleased to have further grown the size of our drybulk fleet to 21 drybulk carriers through the acquisition of three modern vessels, which will also rejuvenate the average age of our fleet. The above acquisition allows us to immediately deploy our available liquidity and is expected to be accretive to our earnings and cash flows."

Apr 19, 2017

 

Logistics

Bahri Reinforces Americas Commitment

(Photo: Bahri)

Reinforcing its three-decade-long presence in North America, transportation and logistics firm

BBC Chartering, Jumbo Shipping Team Up in Global Project Alliance

Photo: BBC Chartering

Two market leaders in their respective fields, Jumbo and BBC Chartering have agreed to an

Cautious Optimism on Multipurpose Shipping: Drewry

Graph:  Drewry Shipping Consultants Limited

Recovering demand for multipurpose shipping combined with improved market conditions for

People & Company News

Kinder Morgan Q3 Revenue Dips on Harvey Impact

(Photo: NASA)

Pipeline operator Kinder Morgan Inc reported a 1.5 percent fall in quarterly revenue

UK Partners Join Forces in Bid to Build Naval Frigates

(Image: Cammell Laird)

A new partnership between Cammell Laird and BAE Systems aims to position the companies to build

Bahri Reinforces Americas Commitment

Reinforcing its three-decade-long presence in North America, transportation and logistics firm Bahri took part in Breakbulk Americas, being held from October 17-19, in Houston.

Maritime Apps