DryShips announces commencement of its third VLGC 10-year time charter with an oil major trading company

By Vessels

DryShips Inc. (NASDAQ: DRYS), a diversified owner of ocean-going cargo vessels, announced yesterday that, on November 5, 2017, its third Very Large Gas Carrier commenced its time charter at a fixed rate with ten years firm duration to an oil major trading company.

DryShips announces commencement of its third VLGC 10-year time charter with an oil major trading company

The Company expects a total gross backlog associated with this time charter of up to $103.8 million.

The Company is a diversified owner of ocean-going cargo vessels that operate worldwide. The Company owns a fleet of 13 Panamax dry bulk vessels; 4 Newcastlemax dry bulk vessels; 5 Kamsarmax dry bulk vessels; 1 Very Large Crude Carrier; 2 Aframax tankers; 1 Suezmax tanker; 4 Very Large Gas Carriers, 1 of which is expected to be delivered in January 2018; and 6 offshore support vessels, comprising 2 platform supply and 4 oil spill recovery vessels.

Source: DryShips