DryShips Inc. Enters Panamax Charters

DryShips, Inc., (NASDAQ:DRYS) a global provider of marine transportation services for drybulk cargoes announced that it has entered into shortterm charters for four of its Panamax vessels with first class charterers. Specifically, DryShips has agreed to enter its 2004 built 73,601 dwt Panamax bulk carrier MV Padre into a time charter for a period of about 12 months at a daily rate of $81,000. The vessel is expected to commence its new charter on or about November 6, 2007; enter its 2000 built 75,706 dwt Panamax bulk carrier MV Coronado into a time charter for a period of about 12 months at a daily rate of $81,750. The vessel is expected to commence its new charter on or about November 2, 2007; enter its 1998 built 72,495 dwt Panamax bulk carrier MV Primera into a time charter for a period of about 12 months at a daily rate of $78,600. The vessel commenced its new charter on October 19, 2007; enter its 1996 built 70,349 dwt Panamax bulk carrier MV Iguana into a time charter for a period of about 12 months at a daily rate of $77,000. The vessel is expected to commence its new charter on or about November 13, 2007.