rss icon Subscribe
desktop mobile

DryShips Completes Common Stock Offering

File Photo: DryShips Inc

By Aiswarya Lakshmi

DryShips Inc. has successfully completed the previously announced $200 million common stock offering, in which the Company raised net proceeds of $198 million, pursuant to the prospectus supplement filed on February 17, 2017.

Following the completion of the offering, the Company has approximately 152,055,576 common shares outstanding.
George Economou, Chairman and CEO commented: "We are very pleased to have successfully raised an additional $198 million of equity, which will increase our total available liquidity to about $455 million. We continue to look at opportunities to diversify and grow our fleet with high quality tonnage and significant operating leverage."
The Company is a diversified owner of ocean going cargo vessels that operate worldwide. The Company owns a fleet of (i) 13 Panamax drybulk carriers, which have a combined deadweight tonnage of approximately 1.0 million dwt, (ii) one Very Large Crude Carrier and one Aframax tanker newbuilding, each of which are expected to be delivered in the second quarter of 2017, (iii) 2 Very Large Gas Carrier newbuildings which are expected to be delivered in the second and third quarter of 2017, respectively, and (iv) six offshore support vessels, comprising two platform supply and four oil spill recovery vessels.

Mar 17, 2017

 

Finance

Korean Shipyards Cut Costs to Boost Profit

Photo: Hyundai Heavy Industries

South Korea's Hyundai Heavy Industries (HHI) and Samsung Heavy Industries (SHI) said that they

Greece Gets 3 Bids for Thessaloniki Port

Pier A. Photo: Port of Thessaloniki

Three foreign investors have bid for the majority stake in Greece's Thessaloniki Port

BW LPG Refinances Six Ex-Aurora Ships

Photo: BW LPG

BW LPG Limited has signed a Debt Facility Agreement of USD290 million for the re-financing of six

Legal

Singapore Approves Japan Shipping JV

Photo: Kawasaki Kisen Kaisha

The Competition Commission of Singapore (CCS) has given the nod to a proposed joint venture

Greece Gets 3 Bids for Thessaloniki Port

Three foreign investors have bid for the majority stake in Greece's Thessaloniki Port, reports Reuters.   Phillipines-based International Container Terminal Services (ICTS)

India's Cochin Shipyard Gears up for IPO

Photo: Cochin Shipyard Ltd

Cochin Shipyard Ltd (CSL),  India's largest public sector shipyard, has filed  initial public

Maritime Apps