DryShips Scraps Bulker Quartet Order

DryShips Scraps Bulker Quartet Order

DryShips Inc., an international provider of marine transportation services for dry bulk and petroleum cargoes, through its majority owned subsidiary, Ocean Rig UDW Inc., has reached an agreement with Jiangsu Rongsheng Heavy Industries (RSHI), to cancel the newbuilding contracts for four ice-class panamax bulker vessels, in exchange for the refund of all instalments paid to RSHI plus interest.

The decision to cancel the orders comes as a result of ”severe delays, and non-existent vessel delivery schedules,” which the company disclosed in their presentation of 2Q results. All amounts due under this agreement have been received in full by the company.

According to the company’s presentation, the cancelled newbuildingss were initially planned for delivery from June to October 2014.

DryShips owns a fleet of 39 dry bulk carriers, comprising 13 Capesize, 24 Panamax and 2 Supramax with a combined deadweight tonnage of approximately 4.3 million tonnes, and 10 tankers, comprising 4 Suezmax and 6 Aframax, with a combined deadweight tonnage of over 1.3 million tonnes.

Press Release, September 03, 2014;

Share this article

Follow World Maritime News

In Depth>


<< Dec 2019 >>
25 26 27 28 29 30 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 31 1 2 3 4 5

Offshore Energy Exhibition and Conference (OEEC) 2020

The three-day event includes an exhibition where an expected 600+ supply chain companies…

read more >

Maritime Reconnaissance and Surveillance Technology

As varied threats in the Mediterranean Sea continue to proliferate, the need to advance…

read more >


Forum you will find out from the regulators, government bodies and major ports’ representatives what the near…

read more >

7th Annual Arctic Exchange

Every year the Exchange invites delegates from across the globe to come together to listen to key senior management teams…

read more >