DryShips, Inc., a provider of marine transportation services for drybulk cargoes, today announced that it has entered into agreements with unaffiliated third parties to acquire:
• One 2003 built, 51,201 dwt Supramax bulk carrier, scheduled to be delivered in the third
quarter of 2007. Upon delivery to DryShips, the vessel will commence a bareboat charter
back to the seller for a period of between 13 and 15 months at a daily bareboat charter
rate of $27,000.
• One 2002 built, 74,204 dwt Panamax bulk carrier scheduled
to be delivered in the fourth
quarter of 2007.
• One 2004 built, 76,500 dwt Panamax bulk carrier scheduled to be delivered in the first
quarter of 2008.
• Three 180,000 dwt Capesize bulk carriers under construction in S. Korea for delivery in
the second and fourth quarters of 2009 and the first quarter of 2010, respectively.
• Two 82,000 dwt Kamsarmax bulk carriers under construction in China for delivery in the
first half of 2010.
The aggregate purchase price of the vessels is approximately $620 million. The company
plans to finance the acquisition of the vessels mainly through operating cash and additional borrowings.