Dryships Announces It Has Reached Agreement With West LB on Waiver Terms for $71 Million of Debt
ATHENS, GREECE - August 10, 2009- DryShips Inc. (NASDAQ:DRYS) (the
"Company" or "Dryships"), a global provider of marine transportation services for
drybulk cargoes and off-shore contract drilling oil services, announced today that it has
reached agreement with West LB on waiver terms for $71 million of our outstanding
debt. This agreement is subject to customary documentation.
George Economou, Chairman and Chief Executive Officer, commented: “We are
delighted to have reached an agreement with West LB. This facility covers 2 of our
drybulk vessels. We continue to have constructive discussions with the remainder of our
banks who are all very supportive of the company”.
DryShips Inc., based in Greece, is an owner and operator of drybulk carriers that operate worldwide. As of the day of this release, DryShips owns a fleet of 41 drybulk carriers comprising 7 Capesize, 29 Panamax, 2 Supramax and 3 newbuilding drybulk vessels with a combined deadweight tonnage of over 3.6 million tons, 2 ultra deep water semisubmersible drilling rigs and 4 ultra deep water newbuilding drillships. DryShips Inc.'s common stock is listed on the NASDAQ Global Market where trades under the symbol "DRYS." Visit our website at www.dryships.com
DryShips Inc.