DryShips announces delivery of its newbuilding Suezmax tanker
DryShips Inc., a diversified owner of ocean going cargo vessels, on May 19, 2017, has taken delivery of the previously announced 159,855 deadweight tons newbuilding Suezmax tanker. The vessel was chartered back to the seller and on May 24, 2017, commenced its five year time charter plus optional periods in charterer’s option, at a base rate plus profit share.
The total expected gross backlog under the time charter, assuming an average spot market for Suezmaxes for the next 5 years of $25,000 per day is estimated to be approximately $43.1 million. The vessel was acquired from and chartered out to entities affiliated with our Chairman and Chief Executive Officer, Mr. George Economou.
The transaction was approved by the audit committee of DryShips’s Board of Directors and the independent members of DryShips’s Board of Directors.
About DryShips Inc.
DryShips is a diversified owner of ocean going cargo vessels that operate worldwide. DryShips owns a fleet of 13 Panamax drybulk vessels; 4 Newcastlemax drybulk vessels, 3 of which are expected to be delivered in the second quarter of 2017; 5 Kamsarmax drybulk vessels, 3 of which are expected to be delivered in the second quarter of 2017; 1 Very Large Crude Carrier, which is expected to be delivered in the second quarter of 2017; 2 Aframax tankers ; 1 Suezmax tanker ; 4 VLGC s which are expected to be delivered in June, September, October and December of 2017; and 6 offshore support vessels, comprising 2 platform supply and 4 oil spill recovery vessels.