DryShips acquires its first Very Large Gas Carrier
DryShips financed the closing price of $21.9 million by using part its undrawn liquidity under the $200 million New Sifnos Revolver, which now stands at $142.9 million.
The $61.6 million balance of the purchase price for the VLGC will be payable in installments until the vessel's delivery from HHI.
The VLGC will be employed on a fixed rate time charter with five years firm duration to an oil major. The charterer has options to extend the firm employment period by up to three years.
DryShips expects a total gross backlog associated with this time charter of up to $92.7 million including the optional periods, and expects to take delivery of the vessel in June 2017. ■