Marine Link
Sunday, April 23, 2017

DryShips Acquires Three Kamsarmax Bulkers

April 20, 2017

DryShips has entered into agreements with unaffiliated third parties to purchase three Kamsarmax drybulk carriers built in 2014.

 
One 81,918 DWT Kamsarmax drybulk carrier is built in 2014. The company expects to take delivery of this vessel during the second quarter of 2017. 
 
Two 81,129 DWT Kamsarmax drybulk carriers are also built in 2014.  The purchase of these two second-hand Kamsarmaxes was previously announced and the company has now physically inspected and accepted the vessels. 
 
The company will finance the total gross purchase price of approximately $68 million using cash on hand, which currently stands at $429 million.
 
George Economou, DryShips Chairman and Chief Executive Officer, commented, "We are very pleased to have further grown the size of our drybulk fleet to 21 drybulk carriers through the acquisition of three modern vessels, which will also rejuvenate the average age of our fleet. The above acquisition allows us to immediately deploy our available liquidity and is expected to be accretive to our earnings and cash flows."
 
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