DryShips announces agreements to sell its tanker fleet
DryShips Inc. , a global provider of marine transportation services for drybulk and petroleum cargoes, and through its majority owned subsidiary, Ocean Rig UDW Inc., of off - shore contract drilling oil services, announced today that it has entered into firm sales agreements with entities controlled by the Company’s Chairman and Chief Executive Officer, George Economou, to sell its four Suezmax tankers , Vilamoura, Lipari, Petalidi and Bordeira , for an en - bloc sales price of $24 5 million, the company said in its press release.
In addition, it has entered into agreements with entities controlled by Mr. Economou to potentially sell its six Aframax tankers, Belmar, Calida, Alicante, Mareta, Saga and Daytona. The agreements to sell the Aframax fleet are not effective until the purchaser confirms his unconditional acceptance latest by June 30, 2015. Under the terms of the firm sales agreements on the four Suezmax tankers, the purchasers will pay upfront 20% to DryShips and the balance purchase price will be due on delivery which will be between July 1, 2015 and October 31, 2015, at the Company’s option. Under the terms of the agreements on the six Aframax tankers, the purchasers could potentially acquire these tankers for an en - bloc sales price of $291 million , as long as they confirm their unconditional acceptance by June 30, 2015 . Other than the sales price, all other material terms and conditions of this potential transaction mirror the terms and conditions on the sale of the four Suezmax tankers, including a 20% upfront payment to DryShips . Ziad Nakhleh, Chief Financial Officer of the Company, commen ted
About DryShips Inc.
DryShips Inc. is an owner of drybulk carriers and tankers that operate worldwide. Through its majority owned subsidiary, Ocean Rig UDW Inc., DryShips owns and operates 13 offshore ultra deepwater drilling units, comprising of 2 ultra deepwater semisubmersible drilling rigs and 11 ultra deepwater drillships, 1 of which is scheduled to be delivered to Ocean Rig during 2016 and 2 of which are scheduled to be delivered during 2017. DryShips owns a fleet of 39 drybulk carriers, comprising 13 Capesize, 24 Panamax and 2 Supramax with a combined deadweight tonnage of approximately 4.3 million tons, and 10 tankers, comprising 4 Suezmax and 6 Aframax, with a com bined deadweight tonnage of over 1.3 million tons.
