• 2017 April 4 16:04

    Dryships announces the acquisition of six vessels

    DryShips Inc.,  a  diversified owner of ocean  going cargo vessels , announced today that it has entered into an  agreement with Kalani Investments Limited ( “ Kalani ” ) , an entity that is not affiliated with Dryships, the company said in its press release. Under the agreement Dryships may sell up to $ 226.4 million of its common stock  to Kalani over a period of 24 months, subject to certain limitations.

    Proceeds from any sales of  common stock will be used for general corporate purposes. Kalani has no right to require any sales and is obligated to purchase th e common stock as  directed by Dryships, subject to certain limitations set forth in the agreement.

    In  consideration for entering into the agreement, Dryships has agreed to issue up to $1.5  million of its common stock to Kalani as a commitment fee. No warrants, derivatives, or other  share classes are associated with this agreement.

    In addition, Dryships has entered into agreements to acquire six vessels for a total gross  price of $ 268  million. These vessels  are  comprised of one Aframax  t anker built  in 2012, three  Kamsarmax dry bulk  vessels, one currently under construction and two built in 2014 , and two very large gas carriers (“VLGCs ”)  currently under construction  pursuant to the previously  announced  “zero cost”  option agreement.

    The Aframax and the two second - hand Kamsarmaxes  are expected to be delivered in the  second quarter of 2017, the  newbuilding re - sale Kamsarmax  in the  third  quarter of 2017 and the two VLGCs before the end of the year.

    All the vessels are expected to be employed in the spot market except  for the  two  VLGCs that will be employed under ten year charters with a major oil trader with  total  contracted  backlog of about $ 208 million.  All of the vessels are being acquired from  unaffiliated third parties w ith the exception of the two VLGCs , which will be acquired  from  entities that are affiliated with the Dryships’s  Chairman and CEO , Mr. George Economou. 

    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 ; four Newcastlemax drybulk vessels, which are expected to be delivered in the second quarter of 2017; three Kamsarmax  drybulk vessels, two second - hand vessels expected to be delivered in the second quarter of 2017  and one newbuilding expected to be delivered in the th ird quarter of 2017 ; one very large crude carrier, which is expected to be delivered in the second quarter of 2017; one Aframax  tanker newbuilding and one Aframax  second - hand tanker,  both of  which  are expected to be  delivered in the second quarter of 2017; four VLGC newbuildings,  two of  which are  expected to be delivered in June and September 2017 and the other two  before the end of 2017 ; and six offshore support vessels, comprising two platform supply and four oil spill recovery  vessels. 

2020 September 22

18:24 FESCO launches new maritime service from ports of China and USA to Chukotka
18:06 Aker Solutions wins electrification work for Lundin Energy Norway
17:49 Onezhsky Shipyard launches yet another self-propelled hopper barge of Project NV-600
17:36 DNV GL – Maritime releases the fourth edition of its Maritime Forecast to 2050
17:15 KNUD E. HANSEN introduces new design of icebreaking expedition cruise vessel
16:56 Vyborg Shipyard lays down processing trawler of KMT02.03 design
16:35 "NextGEN" shipping decarbonization concept mooted for green and efficient navigation
16:19 USC and KOMEA create Russia-Korea shipbuilding and ship equipment cluster
16:05 Hopper Dredger First to Sail 2,000 Hours on 100% Sustainable Marine Biofuel
15:34 Boudewijn Siemons appointed as new Port Authority COO
15:10 The largest LNG-powered container ship joins CMA CGM Group's fleet
14:58 Lead nuclear-powered icebreaker of Project 22220, the Arktika, heads out for Murmansk
14:23 Release of containers at Port of Antwerp will be digitalized
14:17 Gazprombank to loan EUR 522 for construction of floating LNG storage units
13:22 Konecranes to start cooperation negotiations in Germany and Finland in its Industrial Equipment business area
13:00 Ships of RF Navy’s Black Sea Fleet participated in Kavkaz-2020
12:38 Bunker market sees mixed price movements in the Far East ports of Russia (graph)
12:15 Dogger Bank wind farm places record-breaking turbine order boosting local jobs
11:49 BIMCO adopts the industry’s first ship sale and leaseback standard
11:46 Operation of Novosibirsk gateway completed in navigation season of 2020
11:20 Rosmorport prepares tender documentation to continue construction of international marine terminal in Pionersky
10:33 IAA PortNews’ webinar “All Ferries. Caspian Basin” scheduled for 30 September 2020
10:09 Port Houston container volumes down 4% to 248,630 TEUs in August 2020
09:55 New gas tanker form paves the way for revision of ASBATANKVOY
09:31 Oil prices are recovering
09:22 Keppel O&M secures two contracts worth approximately $200 million
09:14 Baltic Dry Index as of September 21
08:38 MABUX: Bunker market this morning, Sept 22

2020 September 21

18:27 CMA CGM announces new PSS, FAK and GRR from Asia to North Europe
18:07 IUMI reports that marine cargo insurance market is “improving amid significant change”
17:43 BIMCO adopts the industry’s first ship sale and leaseback standard
17:21 CMA CGM Group launches “A Humanitarian Ship for Lebanon” campaign to ship emergency humanitarian aid
17:21 USCG prepares for storm, coastal flooding along Texas coast
16:37 Fire on fast rescue craft onboard the M/V Siem Diamond
16:14 LR and the NPL partner on marine autonomy assurance
15:56 FESCO’s container train links Saint-Petersburg and Vladivostok
14:45 Point system developed in Russia for estimation of local content in shipbuilding
14:10 Nakilat transitions LNG Al Rekayyat to in-house management
13:33 Average spot market price for Russian M100 product fell to RUB 12,512 pmt
13:04 Work commences on Phase-2 wharf revetment and land reclamation at Port of Kaohsiung's 7th Container Terminal
12:59 Algeciras, Amsterdam, Lisbon and Puertos del Estado shortlisted for 12th ESPO Award
12:22 Towing of seagoing tugboat Andrey Stepanov along Northern Sea Route completed
12:01 Fincantieri launches the first patrol vessel for Qatar
11:00 BeHydro dual-fuel hydrogen engine awarded Approval in Principle by LR
10:39 Remote audits discussed to avoid further disruption to audit schedule
10:02 Philippine Ports Authority launches COVID-19 contact tracing system for all port users, community
09:41 Oil prices are slightly up
09:23 MABUX: Bunker market this morning, Sep 21
09:08 Baltic Dry Index as of September 18

2020 September 20

16:27 Innovative vacuum cleaner removes plastic from nature reserve in the port of Antwerp
15:33 Master and chief engineer plead guilty in MV Funing case
14:07 World’s largest LNG bunkering vessel arrives in Rotterdam
12:38 Austal Australia delivers 7th GCPB
11:14 ABS to class another four VLEC for Zhejiang Satellite Petrochemical
10:49 MBZ and Boluda Towage Europe ink the 5-year concession agreement for providing sustainable towage service in the Port of Zeebrugge

2020 September 19

15:04 Vroon to recycle three PSVs
14:11 Limited openings at Erasmus Bridge for tall vessels
13:46 The construction of Finnnline's second hybrid ro-ro vessel started
12:33 USCG offloads estimated $216 million of cocaine, marijuana at Port Everglades
11:17 New Maritime Minister visits Port of Southampton