DryShips to Amend Financing Package

Tuesday, June 21, 2011

DryShips Inc., a provider of marine transportation services for drybulk and petroleum cargoes and off-shore contract drilling oil services, announced that it has obtained unanimous consent from its existing syndicate members to amend the $495 million secured term loan facility to allow for full draw downs to finance the remaining costs of the Ocean Rig Mykonos based upon the employment of this drillship with Petrobras for 3 years for drilling offshore Brazil. Furthermore, cash collateral deposited for this drillship will be released. The above is subject to completion of definitive documentation.

George Economou, Chairman and CEO commented: “We are pleased to announce the final financing package for Ocean Rig’s original newbuilding program. As with the Ocean Rig Poseidon, the syndicate of lenders, including Deutsche Bank, have consented to allowing full draw downs to finance the Ocean Rig Mykonos. We thank our bankers and expect similar support for our future financing needs. As a result of the financing transactions concluded in the past several months, Ocean Rig is well positioned to capitalize on further growth opportunities.”

Source: DryShips Inc.

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

People & Company News

ISR Holds Crawler Crane Dedication Ceremony

International Ship Repair & Marine Services, Inc. (ISR) was awarded a $980,260 federal grant from the U.S. Department of Transportation Maritime Administration

Eastern Awarded NYC Firefighter Plate

Monday, April 7, 2014, at the Sea Air Space Exposition at the Gaylord National Convention Center - National Harbor, MD, Brian D’Isernia, Eastern Shipbuilding Group,

ESAB Releases Updated Columbus III

ESAB Welding & Cutting Products announces the release of Columbus III version 1.2, a powerful CAD/CAM programming and nesting software optimized for plasma, oxy-fuel, laser and waterjet cutting.

Finance

BP Spill Compensation Battles Rage On

BP pays billions in compensation but some claims still unpaid; Oil still appearing on beaches in Gulf of Mexico. Company says claims process is flawed, not all oil from spill.

Japan Expresses Concern Over Chinese Ship Seizure

The Japanese government has expressed its concerns to China via diplomatic channels over the seizure of a Mitsui O.S.K. Line Ltd ship by a Chinese court in connection with a case over wartime claims,

China Shipbuilder Rongsheng in 2013 Revenue Freefall

During the year ended 31, December 2013 China Rongsheng, the largest non-state-owned shipbuilder in the PRC, reports that revenue of the Company was RmB1,343.6 million, a decrease of 83.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Offshore Oil Pipelines Port Authority Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | 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: 0.1295 sec (8 req/sec)