• 2014 September 4 16:41

  Dryships Inc. reports cancellation of four newbuilding contracts with Jiangsu Rongsheng Heavy Industries

  

  DryShips Inc., or DryShips or the Company, an international provider of marine transportation services for drybulk and petroleum cargoes, and through its majority owned subsidiary, Ocean Rig UDW Inc., or Ocean Rig, of offshore deepwater drilling services, today announced that it has reached an agreement with Jiangsu Rongsheng Heavy Industries (RSHI) , to cancel the newbuilding contracts for four ice - class panamax bulker vessels, in exchange for the refund of all installments paid to RSHI plus interest. All amounts due under this agreement have been received in full by the Company.

  About DryShips Inc.

  DryShips Inc. is an owner of drybulk carriers and tankers that operate worldwide. Through its majority owned subsidiary, Ocean Rig UDW Inc., DryShips owns and operates 1 3 offshore ultra deepwater drilling units, compris ing of 2 ultra deepwater semisubmersible drilling rigs and 11 ultra deepwater drillships, 1 of which is scheduled to be delivered to Ocean Rig during 2015, 1 of which is scheduled to be delivered to Ocean Rig during 2016 and 2 of which are scheduled to be delivered during 2017 . DryShips owns a fleet of 39 drybulk carriers, comprising 13 Capesize, 24 Panamax and 2 Supramax with a combined deadweight tonnage of approximately 4.3 million tons, and 10 tankers, comprising 4 Suezmax and 6 Aframa x, with a combined deadweight tonnage of over 1.3 million tons

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