New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
January 14, 2013
09:15 EDTDRYSDryShips sells two tanker ships for $21.4M
DryShips, through its majority owned subsidiary, Ocean Rig UDW, announced the sale, via novation, of two of its tankers under construction at Samsung Heavy Industries, Esperona and Blanca, to a third-party buyer. Under the terms of the two novation agreements dated December 27, 2012, the buyer assumes all rights, benefits, liabilities and obligations under both shipbuilding contracts, in exchange for cash consideration of $21.4M, or $10.7M for each vessel paid by the company to the Buyer. As a result of this transaction, Dryships is released from all its obligations under under the shipbuilding contracts, both as the contracting party and as a guarantor. George Economou, CEO of the company, commented, "As we have stated recently, the reduction or elimination of CAPEX has become a top priority for the Company. With the sale of these vessels, Dryships has reduced its CAPEX by approx. $101M, after taking into consideration the payment of $21.4M to the Buyer of the vessels."
News For DRYS From The Last 14 Days
Check below for free stories on DRYS the last two weeks.
Sign up for a free trial to see the rest of the stories you've been missing.
September 15, 2014
18:34 EDTDRYSOn The Fly: After Hours Movers
Subscribe for More Information
16:34 EDTDRYSDryShips initiated with a Buy at Deutsche Bank
Target $5.

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use