Dryships acquires its first very large gas carrier
DryShips Inc., a diversified owner of ocean group cargo vessels , announced today that it has acquired one Very Large Gas Carrier (“VLGC”) currently under construction at Hyundai Heavy Industries (“HHI”) for a purchase price of $83.5 million. DryShips financed the closing price of $21.9 million by using part its undrawn liquidity under the $200.0 million New Sifnos Revolver, which now stands at $14 2 .9 million, the company said in its press release.
The $61.6 million balance of the purchase price for the V LGC will be 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 expects a total gross backlog associated with this time charter of up to $92.7 million including the optional periods , and expects to take delivery of the vessel in June 201 7.
About DryShips Inc.
DryShips is a diversified owner of ocean group 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 and 6 offshore supply vessels, comprising 2 platform supply and 4 oil spill recovery vessels.