DryShips Eyes New Loans to Grow Fleet

Image Courtesy: Nasdaq

Nasdaq-listed shipowner DryShips Inc. has fully repaid its remaining commercial loan facility worth USD 15.2 million, including overdue interest, the company said.

The repayment relieves the company of loan payment duty for the next four years.

DryShips said that as of April 27, 2017, the company’s cash and cash equivalents total in about USD 384 million or USD 6.52 per share. Furthermore, the company’s book value of vessels, including deposits, stands at USD 238 million with the number of shares outstanding being approximately at 58.9 million.

” Having all of our assets debt free, no mandatory loan payments over the next 4 years and available liquidity of USD 384 million, we strongly believe that our efforts to access bank debt financing for the first time since November 2014 will be successful and will allow us to further grow the size our fleet,” George Economou, Chairman and Chief Executive Officer, said.

Just last week, DryShips announced it had entered into agreements to acquire three bulk carriers, one 81,918 DWT Kamsarmax drybulk carrier and two 81,129 DWT Kamsarmax drybulk carriers built in 2014. The acquisition, which pushes the company’s dry bulker fleet to 21 ships, will be financed with USD 68 million cash on hand, DryShips revealed.

The company expects to take delivery of the vessels during the second quarter of 2017.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Dec 2017 >>
MTWTFSS
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

APM – ASIA PACIFIC MARITIME 2018

27 years in the making, APM is the premier shipbuilding & marine, workboat and offshore exhibition in Asia trusted by generations of industry professionals.

read more >

Mega Cargo Show 2018

The focus of the event is to bring all connected with cargo fraternity on a single platform…

read more >

Vietship 2018

Vietship is the largest and longest established exhibition in Vietnam featuring all aspect of Shipbuilding, Shipping and Offshore Technology.

Since its first event in 2002, Vietship has become the convergence and platform of advanced technologies regional and worldwide in shipbuilding and ship repair, marine equipment, waterway transportation and services, marine and offshore engineering.

After 16 years of eight consecutive editions, Vietship has affirm itself as an important event in enhancing cooperation and development, attracting investments, exchanging technology and creating ideal opportunities for trade promotion in the international maritime industry.

More info

read more >

LNG Bunkering Summit 2018

The conference will cover the obstacles facing both the shipping and port communities, exploring developments in conversion and new builds…

read more >