Monday, November 9, 2020
vlcc tanker
Maritime News

Ownership Shake-up at Tanker Pool Operator Heidmar

Heidmar Chief Executive Officer Pankaj Khanna has taken full control of the tanker pool management company from shipping billionaire George Economou. The company announced Monday that Mr. Pankaj Khanna has...

November 9, 2020
Total Views: 300

Tuesday, August 20, 2019
bulk carrier sunset
Maritime News

DryShips Agrees to Buyout Offer from Chairman and CEO

NASDAQ-listed shipowner DryShips has entered into a definitive agreement to sell all outstanding shares of the company to a holding company controlled by DryShips’ Chairman and Chief Executive Officer, George...

August 20, 2019
Total Views: 5

Thursday, November 16, 2017

Highland’s Ocean Rig Bet: Fail in Caymans? Try Marshall Islands

By Tiffany Kary (Bloomberg) — A battle of so-called bankruptcy tourists is erupting in New York court. On Thursday, New York bankruptcy Judge Martin Glenn holds a hearing in the...

November 16, 2017
Total Views: 44

Monday, March 27, 2017
Maritime News

DryShips Continues to Diversify with Purchase of Four Newcastlemax Bulk Carriers

DryShips Inc. (NASDAQ: DRYS) announced Monday that it has entered into agreements to acquire four modern Newcastlemax bulk carriers as the company continues to diversify its fleet. The agreements were...

March 27, 2017
Total Views: 10

Tuesday, February 21, 2017
oil tanker

DryShips Re-Enters Tanker Market

George Economou’s DryShips on Tuesday announced plans re-enter the tanker market with the acuisition of a VLCC and Aframax from two unrelated third parties.   The vessels named DryShips has...

February 21, 2017
Total Views: 2

Friday, January 6, 2017

DryShips Expands Into Gas Carrier Market With Option to Purchase Four VLGCs

Athens-based drybulk shipowner DryShips announced Friday it has entered into a “zero cost” agreement with companies controlled by its Chairman and CEO George Economou to purchase up to four high-specification...

January 6, 2017
Total Views: 1

Friday, August 12, 2016
Ocean rig olympia total drillship

Ocean Rig Sounds Bankruptcy Alarm, Causing Stock to Tank

Ocean Rig shares crashed nearly 60% Friday after the deepwater drilling contractor announced that it could wind up filing for bankruptcy amid ‘extremely negative’ market conditions that are only expected...

August 12, 2016
Total Views: 25

Friday, May 6, 2016

Billionaire’s Bargain Reveals Risks for Offshore Oil Creditors

By Luca Casiraghi and Mikael Holter (Bloomberg) — A bargain for shipping tycoon George Economou is bad news for creditors holding $24 billion of distressed offshore-drilling bonds. The Greek billionaire...

May 6, 2016
Total Views: 19

Tuesday, April 5, 2016
ocean rig sete brasil drillships samsung heavy industries shipyard shipbuilding
Maritime News

DryShips Sells Three Vessels and Ocean Rig Shares To Reduce Debt Burden

DryShips, which owns dry bulk carriers and offshore support vessels, announced that it sold three of its vessels along with the associated bank debt to entities controlled by the company’s...

April 5, 2016
Total Views: 23

Wednesday, February 17, 2016

Ocean Rig Has Two More Drilling Rig Contracts Cancelled

Deepwater drilling contractor Ocean Rig UDW has announced two drilling contracts held with two separate clients have been terminated, with CEO George Economou calling the early terminations ‘regrettable’ and describing industry...

February 17, 2016
Total Views: 3

Wednesday, November 25, 2015
Maritime News

Greek Shipowners Talk Up Their Role to Protect Tax Breaks

By Tom Bergin PIRAEUS, Greece, Nov 25 (Reuters) – On the day he took office as Greece’s shipping minister in June 2012, Kostis Moussouroulis received a visit from a 90-year-old...

November 25, 2015
Total Views: 1

Thursday, September 10, 2015
Maritime News

DryShips Sells 17 Vessels for Huge Loss

  Athens-based dry bulk shipping company DryShips, Inc. announced Monday agreements to sell 17 vessels and says its remaining fleet is now held for sale, which will lead to impairment...

September 10, 2015
Total Views: 2

Monday, May 18, 2015
Maritime News

Ocean Rig Drillships Secure Work Offshore Angola

NASDAQ-listed deepwater driller Ocean Rig says it has secured contracts with ENI for two of its ultra-deepwater drillships for work offshore Angola.

May 18, 2015
Total Views: 8

Monday, March 9, 2015
maran gas Angelicoussis

Billionaire Greek Ship Owners Surface as Home Economy Sinks

More than a thousand delegates from the shipping industry gathered last month at the Hilton Athens for the Greek Shipping Forum, a day of speeches and panel discussions on private equity, ship recycling and financing.

March 9, 2015
Total Views: 530

Thursday, January 22, 2015
crude oil terminal tanker

Tanker Firms Look to U.S. Listings as Market Rebounds

Inspired by an upturn in shipping markets after one of the worst sector downturns on record, a batch of oil tanker companies are looking to raise capital through U.S. listings.

January 22, 2015
Total Views: 0

Tuesday, September 3, 2013

Ocean Rig Orders Ninth Drillship from Samsung Heavy

International deepwater drilling contractor Ocean Rig UDW (NASDAQ: ORIG) on Tuesday announced that it has signed a contract to construct a ninth ultra deepwater drillship at Samsung Heavy Industries for approximately $600 million.

September 3, 2013
Total Views: 45

Thursday, May 23, 2013

Ocean Rig Reports Strong Ultra-Deepwater Fundamentals

Ocean Rig CEO George Economou commented in his Q1 2013 earnings report yesterday that the “outlook for the UDW (Ultra-Deepwater) drilling industry is very positive given the high level of...

May 23, 2013
Total Views: 3

Wednesday, May 22, 2013

DryShips Posts Another Loss

DryShips has posted its sixth straight quarterly loss and says it does not expect charter rates to improve this year.

May 22, 2013
Total Views: 0

Wednesday, March 6, 2013

DryShips Loss Widens

March 6 (Reuters) – DryShips Inc reported a bigger-than-expected quarterly loss as voyage revenue in its drybulk carriers business fell. Shares of DryShips, considered to be a bellwether stock for...

March 6, 2013
Total Views: 0