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.

Photo: PR-foto

The crisis continues for dry bulk carrier DryShips, whose owner, Greek billionaire George Economou, has been struggling in recent years to keep the carrier afloat in the historically weak dry bulk market.

The company, listed on the NYSE, has now suspended payments on interest of the massive debt in a move which effectively means that DryShips has suspended all payments.

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