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  • 2017 January 10 12:06

    Dryships exercises first option to acquire a very large gas carrier with a 5 year time charter

    DryShips Inc., an international owner  of  drybulk  carriers  and  offshore  support  vessels,  has  exercised its  first  option  under  the  previously  announced  option  agreement  to  acquire  one  Very  Large  Gas  Carrier  (“VLGC”) currently under construction at Hyundai Heavy Industries (“HHI”) for a purchase price of  $83.5 million, the company said in its press release.

    Part of the purchase price (abt. 25%) w ill be paid on closing, expected within January, 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. 

    Dryships expect s the total gross backlog associated with this  time charter  to be  $54.0 million, or  $92.7 million including the optional periods, and expects  to take delivery of the vessel in June 2017.

    About DryShips Inc.

    Dryships is an owner of drybulk  carriers and offshore support vessels that operate worldwide. Dryships owns a fleet of 13 Panamax  drybulk  carriers  with  a  combined  deadweight  tonnage  of  approximately 1.0 million tons, and 6 offshore  supply vessels,  comprising 2 platform supply and 4 oil spill recovery vessels.




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