DryShips Reports Q2 Loss
DryShips posted a net loss of $15.6 million for the quarter ended June 30, 2017, widening from net loss of $9.1 million a year earlier. However, its revenue went up to $16.38 million from $15.75 million over the same period. Its cash and cash equivalents stood at $77.2 million (or $1.14 per share) at the end of Q2, and book value of vessels, including advances, was $668.0 million (or $9.84 per share). As of August 29, 2017, following the closing of the Private Placement, the Company owns 49% of Heidmar Holdings LLC pursuant to a joint venture with Morgan Stanley. Heidmar is one of the largest independent tanker pool operators worldwide, commercially managing about 100 vessels.
New Leadership Named at Heidmar
Norwalk, CT -- The Board of Directors of Heidmar Holdings LLC, the holding company for Heidmar Inc. (the "Company"), has announced that it has selected its new Executive team to lead the Company. Marc La Monte has been appointed President and Chief Executive Officer of Heidmar Inc., and Per Heilmann has been appointed Executive Vice President and Chief Risk Officer. These leadership appointments are effective immediately and will position Heidmar to focus on its growth, providing pool management services to independent tanker owners. "We are pleased to be able to promote these individuals from within Heidmar, which has always developed and attracted superior talent,” said The Board of Directors, commenting on the appointments.
