DryShips Inc

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DryShips Inc (NASDAQDRYS) is a dry bulk shipping company based in Athens, Greece. It is a Marshall Islands corporation, formed in 2004, and its stock is publicly listed on NASDAQ.[1] As of March 6, 2012, the Company owned, through its subsidiaries, a fleet of 36 drybulk carriers, consisting of 9 Capesize, 25 Panamax and two Supramax vessels, which have a combined deadweight tonnage of approximately 3.53 million deadweight tonnage and an average age of approximately eight years; six drilling units (two modern, fifth generation, advanced capability ultra-deepwater semisubmersible offshore drilling rigs and four sixth generation, advanced capability ultra-deepwater drillships) and five tankers (four Aframax tankers, Saga, Daytona, Belmar, and Calida, and one Suezmax tanker, Vilamoura).

Through its 59.4% owned subsidiary, Ocean Rig, DryShips also owns and operates 11 semi-submersible oil rigs. As of December 28, 2013, DryShips owned and operated two 5th generation ultra-deepwater, semi-submersible offshore drilling rigs, the Leiv Eiriksson which can drill from 70 m (223 ft) to 2,285 m (7,500 ft) and the Eirik Raude, which can drill from 500 m (1,640 ft) to 2,500 m (8,200 ft). And 9 advanced capability ultra-deepwater drillships, four 6th generation ships Ocean Rig Olympia, Poseidon, Mykonos, Corcovado, and five 7th generation ships Ocean Rig Mylos, Skyros, Athena, Apollo, Santorini. Ocean Rig Skyros was delivered December 20, 2013 and can drill from 500 m (1,640 ft) to 3,650 m (12,000 ft) [1]

In March 2011 one of the company's Panamax carriers, MS Oliva, was wrecked off Nightingale Island, Tristan da Cunha, resulting in an oil spill which damaged local wildlife.[2]

In May 2014 Dryships finalised the buying of a capesize Bulk carrier which has been under discussion since March 2014. [3] The company bought the ship, originally names Conches that was built in 2011 [4] The vessel was renamed Raiatea, and officially changed hands on 24 April 2014 and cost approximately $53 million. [5]


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