DryShips (NASDAQ: DRYS) shares are down 20% this morning, hitting a new 52-week low of $2.03. The company this morning said it has taken delivery of the previously announced high specifications newbuilding Very Large Gas Carrier (VLGC). The VLGC will be employed to an oil major under a time charter on a fixed rate with five years firm duration, with an option for the charterer to extend the firm employment period by up to three years. DryShips said it anticipates a total gross backlog associated with this time charter of up to $92.7 million including the optional periods. The company has taken delivery of 11 vessels in 2017 and expects to take delivery of six more by the end of the year.
To view the full press release, visit: http://nnw.fm/1mquD
About DryShips Inc.
DryShips, Inc. is a diversified owner of ocean going cargo vessels that operate worldwide. The company owns a fleet of (i) 13 Panamax drybulk vessels; (ii) 4 Newcastlemax drybulk vessels, 3 of which are expected to be delivered in the third quarter of 2017; (iii) 5 Kamsarmax drybulk vessels; (iv) 1 Very Large Crude Carrier; (v) 2 Aframax tankers; (vi) 1 Suezmax tanker; (vii) 4 Very Large Gas Carriers, 3 of which are expected to be delivered in September, October and December of 2017; and (viii) 6 offshore support vessels, comprising 2 platform supply and 4 oil spill recovery vessels. For more information, visit the company’s website at www.dryships.com.
NetworkNewsBreaks (NNB) provide a rapid summary of corporate news that caught the attention of NetworkNewsWire (NNW). NNB keeps you up-to-date on active US Public Companies complementary to NNW’s broader scope as a provider of news aggregation and syndication, enhanced press release services and a full array of social communication solutions. As a multifaceted financial news and distribution company with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. NNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer