Under the terms of the agreement, the lending bank has agreed to a write-off approximately 50% of the outstanding principal and interest due. The company has repaid approximately US$8.2 million of principal and will have to pay an additional amount of US$2 million over the next nine months against a full and final settlement of all of its obligations under the credit documents.
DryShips owns a fleet of 14 panamax dry bulk carriers with a combined DWT of approximately 1 million t, and six offshore supply vessels, comprising two platform supply and four oil spill recovery vessels.
