Bulk

Shipowner buys vessels from himself in DryShips meltdown

The meltdown continues at DryShips, which has sold 17 vessels to founder and CEO George Economou. The transaction results in a giant impairment for the carrier.
Photo: /ritzau/AP/Richard Dew/
Photo: /ritzau/AP/Richard Dew/
BY NIKLAS KRIGSLUND

George Economou has acquired 17 vessels, including all Capesize vessels, from his own carrier DryShips in the biggest meltdown of an international dry bulk carrier to date.

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