Dryships: Acquisition of Modern Kamsarmax Drybulk Carrier

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DryShips, a diversified owner of ocean going cargo vessels, announced that:

On April 27, 2017, has entered into an agreement with an unaffiliated third party to acquire one 82,129 DWT Kamsarmax drybulk carrier built in 2014. The Company will finance the total gross purchase price of approximately $24 million using cash on hand and expects to take delivery of this vessel during the second quarter of 2017.

On April 27, 2017, has taken delivery from the yard of the previously announced 113,644 DWT newbuilding Aframax tanker.

Mr. George Economou, Chairman and Chief Executive Officer commented:

“We are very excited to have started taking delivery of our previously announced acquisitions and also continue to grow our fleet with a new acquisition of one more modern vessel. The DryShips new era has official started and is expected to be accretive to our earnings and cash flows.”

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