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 Agreements With Nord LB and West LB on Waiver Terms for a Total of $183 Million of Debt
| Source: DryShips Inc.
ATHENS, GREECE--(Marketwire - October 13, 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 agreements with Nord LB and West LB on waiver
terms for $116 million and $67 million respectively of our outstanding
debt.
George Economou, Chairman and Chief Executive Officer, commented: "I am
pleased to report another set of waivers from our banks who remain
extremely supportive of DryShips. We are now left with $187.5 million of
outstanding debt, where constructive discussions with the banks continue
for waivers and we expect to have those concluded shortly."
About DryShips Inc.
DryShips Inc., based in Greece, is an owner and operator of drybulk
carriers and offshore oil deep water drilling that operate worldwide. As of
the day of this release, DryShips owns a fleet of 41 drybulk carriers
comprising 7 Capesize, 30 Panamax, 2 Supramax and 2 newbuilding Drybulk
vessels with a combined deadweight tonnage of over 3.7 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.