Dryships Announces It Has Signed Agreement With Deutsche Schiffsbank On Waiver Terms For $117.5 Million Of Debt
ATHENS, GREECE - November 17, 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
signed an agreement with Deutsche Schiffsbank on waiver terms for two facilities with an
aggregate of $117.5 million of its outstanding debt.
George Economou, Chairman and Chief Executive Officer, commented: “I am delighted
to report that with the signing of the Deutsche Schiffsbank waiver, we have now obtained
all the necessary waivers for all of our outstanding debt. This resolves all cross default
issues and is expected to result in the normal classification of our long term debt on our
balance sheet. We would like to thank our banks for being extremely supportive of the
company. DryShips is in a strong position to take advantage of the distressed
opportunities that are emerging from banks, shipyards and other sources”.
DryShips Inc., based in Greece, is an owner and operator of drybulk carriers and offshore oil deep water drilling that operate worldwide. As of the day of this release, DryShips owns a fleet of 39 drybulk carriers comprising 7 Capesize, 30 Panamax and 2 Supramax, with a combined deadweight tonnage of over 3.4 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 it trades under the symbol "DRYS".
DryShips Inc.