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DryShips announces time charter contract for a newcastlemax

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Dry Bulk,

DryShips Inc., a diversified owner of ocean going cargo vessels, has entered into a time charter with a major coal and steel trader for its fourth and last of its 206 000 DWT newcastlemax dry bulk vessels.

The contract has a duration of about one year, with a gross rate linked to the Baltic capesize Index (5 T/C route) plus 20% and will commence upon the delivery of the vessel, expected in July 2017.

The company owns a fleet of 13 panamax vessels; four newcastlemax vessels, three of which are expected to be delivered in 3Q17; five kamsarmax vessels; one VLCC; two aframax tankers; one suezmax tanker; four VLGC, three of which are expected to be delivered in September, October and December of 2017; and six offshore support vessels, comprising two platform supply and four oil spill recovery vessels.

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