DryShips Inc. Announces Commencement of its Second Very Large Gas Carrier 5 Year Time Charter with an Oil Major

Athens, Greece - September 12, 2017

DryShips Inc. (NASDAQ:DRYS), or DryShips or the Company, a diversified owner of ocean going cargo vessels, announced today that, its second Very Large Gas Carrier commenced its 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.

About DryShips Inc.
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 dry-bulk 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.

DryShips’ common stock is listed on the NASDAQ Capital Market where it trades under the symbol “DRYS.”

DryShips Inc. press release