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DRYSHIPS INC. ANNOUNCES TIME CHARTER CONTRACT FOR ONE OF ITS NEWCASTLEMAX VESSELS

ATHENS, GREECE – July 3, 2017 – DryShips Inc. (NASDAQ: DRYS) (the “Company” or “DryShips”), a diversified owner of ocean going cargo vessels, announced today that it has entered into a time charter with a major coal and steel trader for its fourth and last of its 206,000 dwt Newcastlemax drybulk vessels. The contract has a duration of about one year, with a gross rate linked to the Baltic Capesize Index (5 T/C route) plus 20% and will commence upon the delivery of the vessel, expected in July 2017.

Source credit: http://dryships.irwebpage.com/press/drys-070317.pdf

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