DryShips Narrows 2Q Loss

Greek owner and operator of drybulk carriers and offshore support vessels DryShips Inc. has reported a net loss of USD 9.1 million in the second quarter of 2016, against a net loss of USD 1.4 billion seen in the same quarter of 2015

News ID: 68092

Date: 05 August 2016 - 16:02

According to MANA, DryShips said that its net loss for the first half of the year narrowed to USD 115.9 million from the USD 1.4 billion seen a year earlier.
The company’s revenues for the quarter were at USD 13.1 million, compared to USD 403.1 million reported a year ago.
As of June 30, 2016, DryShips’ total debt stands at USD 224.7 million.
DryShips owns a fleet of 20 Panamax drybulk carriers with a combined deadweight tonnage of approximately 1.5 million tons, and 6 offshore supply vessels, comprising 2 platform supply and 4 oil spill recovery vessels