Dryships orders bulker pair, secures rig financing

DryShips subsidiary Ocean Rig UDW has signed an US$800 million syndicated secured term loan facility to partially finance the construction costs of the 'Ocean Rig Corcovado' and 'Olympia'.

The company has also concluded an order for two Capesize 176,000DWT dry bulk carriers with a Chinese shipyard for the price of $54.2 million each. The vessels are expected to be delivered in the third and the fourth quarter of 2012, respectively.

{WISroYQ symbol='DRYS'}

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