Dryships exercises first option to acquire a very large gas carrier with a 5 year time charter
DryShips Inc., an international owner of drybulk carriers and offshore support vessels, has exercised its first option under the previously announced option agreement to acquire one Very Large Gas Carrier (“VLGC”) currently under construction at Hyundai Heavy Industries (“HHI”) for a purchase price of $83.5 million, the company said in its press release.
Part of the purchase price (abt. 25%) w ill be paid on closing, expected within January, with the balance payable in installments until the vessel’s delivery from HHI. The VLGC will be employed on a fixed rate time charter with five years firm duration to an oil major. The charterer has options to extend the firm employment period by up to three years.
Dryships expect s the total gross backlog associated with this time charter to be $54.0 million, or $92.7 million including the optional periods, and expects to take delivery of the vessel in June 2017.
About DryShips Inc.
Dryships is an owner of drybulk carriers and offshore support vessels that operate worldwide. Dryships owns a fleet of 13 Panamax drybulk carriers with a combined deadweight tonnage of approximately 1.0 million tons, and 6 offshore supply vessels, comprising 2 platform supply and 4 oil spill recovery vessels.