Dryships Buying Six More Vessels for $226.4m

George Economou’s Dryships has acquired a further six vessels for $268m as it lines up a $226.4m possible share sale to Kalani Investments

News ID: 73235

Date: 05 April 2017 - 08:46

According to MANA, Dryships is buying one aframax tanker, two 2014-built kamsarmax bulkers and one kamsarmax newbuilding under construction and two VLGCs from companies belonging to Economou under a previously announced deal.

All the vessels will be deployed on the spot market apart from the two VLGCs which have 10-year charters to an undisclosed oil major.

“We are very pleased to announce the acquisition of six more vessels since the beginning of our transformation project that started at the end of last year. In the last three months, we have acquired a total of fourteen vessels with an average age of two years, for a total cost of approximately $662m,” said Economou, chairman and ceo of Dryships.