DryShips Agrees to Sell, Buy and Build

Tuesday, September 26, 2006
Greece-based industrial shipper DryShips Inc. on Monday said it plans to sell an older bulk carrier, buy a newer model and signed $66.5min contracts to build two dry bulk vessels. The company said it agreed to sell its 1995-built panamax bulk carrier for about $35 million, with delivery scheduled for the end of the year. The company will buy a larger panamax bulk carrier, built in 2000, for about $40.8 million for delivery in the fourth quarter. The newer ship has deadweight tonnage of 74,716 compared with the 71,747 deadweight tonnage for the older vessel.

In addition, DryShips arranged contracts to build two panamax dry bulk vessels at a China shipyard for roughly $33.3 million each. The ships are slated for delivery in the last quarter of 2009 and first quarter of 2010. Panamax vessels have the maximum dimensions required to pass through the locks of the Panama Canal. DryShips currently owns a fleet of 32 dry bulk carriers. Shares of DryShips fell 19 cents to $13.53 in morning trading on the Nasdaq.

Maritime Reporter June 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

USCG Galveston Unit Change of Command

A change-of-command ceremony will be held Thursday morning, July 24, to see a Coast Guard lieutenant commander and graduate of Houston's Alief Hastings High School, Lt.

Panama Canal to Celebrate 100 Years

To commemorate its centennial, the Panama Canal will host a series of events August 14-15 in Panama City to highlight the impact of the waterway during the past century.

Statoil, Repsol, ExxonMobil Win Colombian Offshore License

Statoil announced today that it has been awarded interest in the COL4 license offshore Colombia in the Caribbean Sea in the 2014 Colombia Licensing Round, along with Respol and ExxonMobil.

Contracts

Statoil, Repsol, ExxonMobil Win Colombian Offshore License

Statoil announced today that it has been awarded interest in the COL4 license offshore Colombia in the Caribbean Sea in the 2014 Colombia Licensing Round, along with Respol and ExxonMobil.

Bahrain US$35-M Land Reclamation Contract for GLDD

Provider of dredging services in the United States and a major provider of environmental & remediation services, Great Lakes Dredge & Dock Corporation (GLDD) says

Global Ocean Trade: Latest Shipbuilding Orders

No tankship orders noted the past week by Clarkson Hellas in their latest S&P Weekly Bulletin, but no lack of orders in the dry bulk carrier market, all from Far East shipbuilders.

 
 
Maritime Security Maritime Standards Naval Architecture Navigation Offshore Oil Port Authority Ship Electronics Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1153 sec (9 req/sec)