Contact Information: Investor Relations / Media: Nicolas Bornozis Capital Link, Inc. (New York) Tel. 212-661-7566 E-mail: dryships@capitallink.com
DryShips Announces It Has Signed Waiver Agreement With DnB NOR for $86 Million of Debt
| Source: DryShips Inc.
ATHENS, GREECE--(Marketwire - June 18, 2009) - DryShips Inc. (NASDAQ : DRYS ) (the "Company"
or "Dryships"), a global provider of marine transportation services for
drybulk cargoes and off-shore contract drilling oil services, announced
today that it has signed an agreement with DnB NOR on waiver terms for $86
million of our outstanding debt.
George Economou, Chairman and Chief Executive Officer, commented: "We are
pleased to have signed the agreement with DnB NOR for this facility which
covers two of our drybulk vessels. We continue to deliver on the covenant
waivers and assess acquisition opportunities to further grow the company."
About DryShips Inc.
DryShips Inc., based in Greece, is an owner and operator of drybulk
carriers that operate worldwide. As of the day of this release, DryShips
owns a fleet of 41 drybulk carriers comprising 7 Capesize, 28 Panamax, 2
Supramax and 4 newbuilding Drybulk vessels with a combined deadweight
tonnage of over 3.6 million tons, 2 ultra deep water semisubmersible
drilling rigs and 4 ultra deep water newbuilding drillships. DryShips
Inc.'s common stock is listed on the NASDAQ Global Market where trades
under the symbol "DRYS." Visit our website at www.dryships.com
Forward-Looking Statements
Matters discussed in this release may constitute forward-looking
statements.
Forward-looking statements reflect our current views with respect to future
events and financial performance and may include statements concerning
plans, objectives, goals, strategies, future events or performance, and
underlying assumptions and other statements, which are other than
statements of historical facts. The forward-looking statements in this
release are based upon various assumptions, many of which are based, in
turn, upon further assumptions, including without limitation, management's
examination of historical operating trends, data contained in our records
and other data available from third parties. Although DryShips Inc.
believes that these assumptions were reasonable when made, because these
assumptions are inherently subject to significant uncertainties and
contingencies which are difficult or impossible to predict and are beyond
our control, DryShips Inc. cannot assure you that it will achieve or
accomplish these expectations, beliefs or projections. Important factors
that, in our view, could cause actual results to differ materially from
those discussed in the forward-looking statements include the strength of
world economies and currencies, general market conditions, including
changes in charterhire rates and vessel values, changes in demand that may
affect attitudes of time charterers to scheduled and unscheduled
drydocking, changes in DryShips Inc.'s operating expenses, including bunker
prices, drydocking and insurance costs, or actions taken by regulatory
authorities, potential liability from pending or future litigation,
domestic and international political conditions, potential disruption of
shipping routes due to accidents and political events or acts by
terrorists. Risks and uncertainties are further described in reports filed
by DryShips Inc. with the US Securities and Exchange Commission.