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.

Photo: PR-foto

The Greek billionaire shipowner George Economou continues to struggle in the battle to rescue his crisis-stricken dry bulk carrier Dryships.

For the third time in one year, the shipowner is buying vessels from himself in order to reduce the debt in the company. He is also buying back all of Dryships shares in the operator company Ocean Rig, which he controls as well, informs the listed company in a statement.

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