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Dryships delisted by founder

Greek Dryships Founder and CEO George Economou has bought the remaining shares of the company, taking the company off the New York Stock Exchange.

Court rejects injunction case against Dryships

Yet another round in the dispute between the Greek dry bulk carrier and a shareholder is decided in favor of the carrier and its founder, George Economou. A court in the Marshall Islands has rejected the plaintiff's injunction against the carrier's sale of stock, informs Dryships.

Dryships gearing up for showdown with investors

The charges against Greek bulk carrier Dryships and its management are unfounded, stresses Dryships in a statement. The carrier is preparing for a showdown while at the same time announcing a new reverse stock split.

Dryships is being sued in New York

A group of investors is suing Greek dry bulk carrier Dryships at a court in New York. Investors feel cheated in relation to a transaction last year. Two weeks ago, a similar lawsuit was filed in the Marshall Islands.

Court drops some of the charges against Dryships

A court in the Marshall Islands has decided to lift a temporary suspension on the issuing of new shares in Dryships. The ban was part of a lawsuit against the dry bulk carrier, which has been accused by investors of inflicting huge losses on them in an unusual share tactic.

Dryships enters tanker market

The carrier has acquired two tanker vessels for a total USD 102.5 million. Both ships are expected delivered during the second quarter and will be deployed in the spot market.

Dryships looking ahead after loan from Greek owner

There are still red figures on the bottom line at Dryships, which booked a deficit of USD 200 million in 2016. However fresh capital from owner George Economou means that the carrier is now preparing to expand the fleet.

Dry bulk shipowner weighs purchase of four VLGCs

New York-listed Dryships, which owns a fleet of dry bulk and offshore vessels, is prepared to enter the market for LPG transport with an option to buy four VLGC vessels currently under construction.

Bulk share surged more than 1300 percent in four days

What could explain a price surge as big as USD 5 to USD 73 in an ailing bulk carrier over a period of just four days, asks Alphabulk. The analyst agency offers an explanation for the huge price jump logged before trading of the share was halted on Nasdaq in New York.

Greek magnate's drilling company could be de-listed

Drilling company Ocean Rig, which is owned by Greek magnate George Economou, is at risk of being de-listed from the Nasdaq Exchange in New York after its share price has hovered below one US dollar for 30 consecutive days. The company is now considering a reverse share split.

Nine bulk carriers lost USD 721 million in six months

The major bulk carriers listed in the US had a miserable first half of the year with a massive aggregate deficit, according to review by Alphabulk. The companies look set to lose over one billion US dollars in 2016.

DryShips has suspended all payments

Greek bulk carrier DryShips has now stopped paying interest on loans, and the debt-plagued company has thus completely suspended all payments. However, the divestment of a major stake enabled the carrier to deliver a profit in the first quarter.

Accountant casts doubts on Dryships' survival

Several lenders are now criticizing Greek-based Dryships for defaulting on loans and breaching lending covenants. Negotiations are underway, but Dryships cannot guarantee that the talks will be fruitful.

Greek shipowner buys more vessels from himself

The problems continue to pile up at Dryships, which once again is selling vessels to its own CEO, George Economou. The carrier is also divesting a stake in Ocean Rig, which is likewise owned by the Greek billionaire.

Græsk rigmand køber igen skibe af sig selv

Problemerne fortsætter i Dryships, der igen sælger til skibe til sin CEO, George Economou. Rederiet sælger desuden sin ejerandel i Ocean Rig, som også er kontrolleret af den græske rigmand.

DryShips' deficit skyrockets

Greek dry bulk carrier, DryShips, has not been able to escape unscathed from the dry bulk crisis, and the carrier has booked big deficit due to impairments. The company has stopped making payments on its debt and is currently negotiating a restructuring.

Divesting bulk fleet brings big loss for DryShips

Greek carrier DryShips is currently divesting its entire dry bulk fleet in an attempt to salvage what is left, and this costs the company millions of dollars in the third quarter, according to the interim report.

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