DryShips exercises second option to acquire a very large gas carrier with a 5 year time charter
DryShips Inc., a diversified owner of ocean going cargo vessels, has exercised its second option under the previously announced option agreement to acquire up to four Very Large Gas Carriers (“VLGCs”) currently under construction at Hyundai Heavy Industries Co., Ltd. (“HHI”) for a purchase price of $ 83.5 million, the company said in its press release.
Part of the purchase price ( approximately 25%) will be paid on closing, expected within March 2017 , with the balance payable in installments until the vessel’s delivery from HHI. The VLGC will be employed on a fixed rate time charter with five years firm duration to an oil major. The charterer has options to extend the firm employment period by up to three years.
About DryShips Inc.
DryShips is a diversified owner of ocean going cargo vessels that operate worldwide. DryShips owns a fleet of 13 Panamax drybulk carriers with a combined deadweight tonnage of approximately 1.0 million tons, 1 Very Large Gas Carrier newbuilding, 1 Very Large Crude Carrier and 1 Aframax tanker newbuilding, each of which are expected to be delivered in the second quarter of 2017 and 6 offshore supply vessels, comprising 2 platform supply and 4 oil spill recovery vessels.