Dry CargoEurope

DryShips snaps up another kamsarmax

Greek shipowner DryShips has continued its fleet build up with the acquisition of another secondhand kamsarmax bulker.

The 2014-built vessel will be delivered during the second quarter of 2017, with broking sources identifying the bulker as the United Ocean. The vessel was bought from Japan’s United Ocean Group, which sought bankruptcy protection in Tokyo last year.

DryShips says it has also finalised a previously announced deal for a pair of 81,129 dwt kamsarmaxes, also built in 2014, and the vessels are also scheduled for delivery during the second quarter.

The three vessels were purchased at a total price of $68m.

“We are very pleased to have further grown the size of our drybulk fleet to 21 drybulk carriers through the acquisition of three modern vessels, which will also rejuvenate the average age of our fleet. The above acquisition allows us to immediately deploy our available liquidity and is expected to be accretive to our earnings and cash flows,” commented George Economou, chairman and chief executive officer of DryShips.

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.
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