DryShips Sells VLGC Quartet and Two Panamaxes

ShippingIllustration; Image Courtesy: Pixabay under CC0 Creative Commons license

Greek ship owner and operator DryShips has unveiled agreements to sell a number of its ships, including its four very large gas carriers (VLGCs).

Namely, the company said it signed contracts with unaffiliated buyers to sell the quartet along with the existing time charter contracts for each VLGC.

The sale remains subject to charterers’ consent. The VLGCs are scheduled for delivery to their buyers during the third quarter of 2018, DryShips informed.

Additionally, the company reached agreements for the sale of its two oldest Panamax drybulk carriers. The 2000-built vessels are scheduled for delivery to their buyers during the third quarter of 2018.

Furthermore, the company entered into an index linked time charter for the recently acquired Newcastlemax bulk carrier. Under the charter, the company can give 60-days advance termination notice and can then seek alternative or fixed rate employment.

“If all vessel sales announced to date materialize, the company expects to realize an aggregate gain on vessels sales compared to the book value of these assets,” DryShips concluded.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Sep 2018 >>
MTWTFSS
27 28 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

CWC World LNG & Gas Series: 10th Asia Pacific Summit

Bringing together the key LNG buyers and sellers from across the globe, the Summit provides…

read more >

Europort 2018

From 15-17 May 2018, the 12th edition of Europort Romania willl take place in the IDU Hall in Constanta…

read more >

Defence Safety Conference Supported by The Defence Safety Authority, UK MoD

The Defence Safety Conference is the first of its kind exclusively dedicated to safety across the defence domain…

read more >

Singapore International Bunkering Conference and Exhibition (SIBCON)

The 20th edition of the Singapore International Bunkering Conference and Exhibition (SIBCON) will be about inspiring change…

read more >