DryShips Installs Scrubbers on 7 Vessels

Greek diversified owner and operator of ocean going cargo vessels DryShips announced that further to its plan to future proof its fleet, it has completed the dry-docking, installation of ballast water treatment systems (BWTS) and scrubbers on 7 vessels.

DryShips has incurred approximately $26.1 million of total costs and 300 off-hire days future Proofing of the its fleet.

"Within 2020, we expect to continue to execute our plan to upgrade additional vessels and we expect to incur approximately 843 off-hire days for a total estimated cost of $65.8 million," said a release from the company.

"In connection with the installation of scrubbers on our vessels we have entered into agreements, directly or indirectly, with internationally recognized financial institutions and/or export credit agencies to borrow up to $36.4 million to partly finance such installations," it said.

The loans have not yet been drawn and they are guaranteed by entities that may be deemed to be affiliated with its Chairman and CEO, George Economou, the release added.