DryShips Inc

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DryShips Inc.
Public
Traded as NASDAQDRYS
Industry Shipping
Founded 2004
Headquarters Athens, Greece
Key people
George Economou (CEO,Chairman)
Owner George Economou (16.7%)[1]
Subsidiaries Ocean Rig
Website http://www.dryships.com/

DryShips Inc is a dry bulk shipping company based in Athens, Greece. It is a Marshall Islands corporation, formed in 2004.

As of June 2015, the company owns, through its subsidiaries, a fleet of 39 drybulk carriers, consisting of 13 Capesize, 24 Panamax and two Supramax vessels, which have a combined deadweight tonnage of approximately 4.3 million deadweight tonnage; 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) [2]

In March 2011, one of the company's Panamax carriers, MS Oliva, was wrecked off Nightingale Island in the Tristan da Cunha group of islands, resulting in an oil spill which damaged local wildlife.[3]

In May 2014, Dryships finalized the buying of a cape-size Bulk carrier.[4] The company bought the ship, originally named Conches, which was built in 2011.[5] The vessel was renamed Raiatea and officially changed hands on 24 April 2014 for a cost of approximately $53 million. [6]

Following a series of reverse stock splits and the issuance of additional stock in 2016, in early 2017 the company refinanced its debt and announced an expansion into the gas carrier market with the purchase of a very large gas carrier.[7][8]

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