Seatrade Maritime is part of the Informa Markets Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.
HomeMaritime NewsRegionsAmericasDryships slumps to massive $820m third quarter loss

Dryships slumps to massive $820m third quarter loss

Dryships slumps to massive $820m third quarter loss
George Economou’s Dryships slumped to a massive $820m loss in the third quarter hit by impairments and losses on sales of vessels.

The $820m loss in the third quarter of 2015 compared to a $16.67m profit in the same period a year earlier.

Dryships said that in the quarter it took impairment charges and losses on sales of $797.5m, excluding the impairment charges and losses the company’s net loss in Q3 would have been $22.5m. Dryships has sold of 10 tankers and 17 dry bulk vessels.

In November it also moved into the OSV sector acquiring Nautilus Offshore Services which has six vessels on time charter to Petrobras.

TAGS: Europe Dry Bulk Finance & Insurance Offshore

 

Related
Francis-Scott-Key-Bridge-Dali.jpeg
City of Baltimore hits back at Dali owners
Apr 23, 2024
Port of LA cyber webinar
Focus on new US maritime cyber security regulations
Apr 23, 2024
Containership Kota Pusaka, PIL
PIL strengthens presence in East Coast South America
Apr 23, 2024
The M/V Dali is shown with the collapsed Francis Scott Key Bridge on March 30, 2024, in Baltimore
What can Asia learn from the Baltimore port disaster?
Apr 22, 2024