Dryships Adds New VLGC

 

The VLGC will be employed under a time charter on a fixed rate with five years firm duration to an oil major. The charterer has options to extend the firm employment period by up to three years.

 

The Company expects a total gross backlog associated with this time charter of up to $92.7 million including the optional periods.

 

Since the beginning of this year, DryShips has taken delivery of 15 vessels and expects to take delivery of two more by the end of the year.

 

The Company is a diversified owner of ocean going cargo vessels that operate worldwide. The Company owns a fleet of (i) 13 Panamax drybulk vessels; (ii) 4 Newcastlemax drybulk vessels; (iii) 5 Kamsarmax drybulk vessels; (iv) 1 Very Large Crude Carrier; (v) 2 Aframax tankers; (vi) 1 Suezmax tanker; (vii) 4 Very Large Gas Carriers, 2 of which are expected to be delivered in October and December of 2017; and (viii) 6 offshore support vessels, comprising 2 platform supply and 4 oil spill recovery vessels.