DryShips Sells MV Oregon

Greek shipping company DryShips Inc. has sold the 2002-built Panamax drybulk carrier MV Oregon.

The 74,200 dwt MV Oregon, along with the associated bank debt, was sold to an entity controlled by the company’s chairman and CEO George Economou.

The vessel was sold for a 10% premium to fair market value, as supported by independent third party broker valuations, DruShips said, without revealing the purchase price.

Following this transaction, the current outstanding balance under the company’s senior secured revolving facility agreement has been increased to USD 10.8 million.

This is the second dry bulker DryShips has sold in September. Earlier this month, the company sold the 2000-built, 75,706 dwt MV Coronado for a gross price of USD 4.25 million.

DryShips currently owns a fleet of 18 Panamax drybulk carriers with a combined deadweight tonnage of approximately 1.3 million tons, as well as  6 offshore supply vessels, comprising 2 platform supply and 4 oil spill recovery vessels.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Jun 2017 >>
MTWTFSS
29 30 31 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 1 2

DSM17

Donsö Shipping Meet 2017 is an all inclusive exhibition. Meals, electricity, meeting schedule and banquette dinner is included…

read more >

TOC Europe

TOC (The Terminal Operations Conference) has long been considered best in class by container terminal operators and their suppliers…

read more >

Marine Philippines 2017

The 4th edition of PHILIPPINES MARINE 2017, SHIPBUILD PHILIPPINES 2017 and OFFSHORE PHILIPPINES 2017 is the only specialized Shipbuilding…

read more >

Bunkering Week 2017

IBC’s biennial Bunkering Week is back with its successful series of 3 co-located events: 8th Bunkering in Asia, 4th LNG Bunkering and EMTECH: Ship Emissions Technology Conference.

With a proven track record of bringing together top decision makers from various industry sectors, this remains the go to event for ship owners, fuel suppliers, traders and technology solution providers. Get in-depth and detailed market insights from experts who are taking the decisions, assess peer strategies and give shape to your own in this unrivalled gathering of shipping and marine fuel industry leaders.

Key Highlights for 2017:

* 3 Co-located Conferences

* 12+ Hours of Networking Time

* In-depth Review of Shipping Markets by Segment

* Ship Owner Positions on Emissions Compliance Scenarios

* Pricing Differentials and Availability across Different Fuels

* Technology and Analytics in Fuel Management and Emissions MRV

More info

read more >