Dry CargoEurope

DryShips sells bulker to Economou

Greek owner DryShips has announced that it has sold the 2002-built panamax drybulk carrier MV Oregon.

The vessel, along with the associated bank debt, was sold to an entity controlled by the company’s chairman and ceo, George Economou.

The vessel was sold for a 10% premium to fair market value, as supported by independent third party broker valuations.

After the transaction the company’s senior secured revolving facility agreement stands at $10.8m.

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Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.
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