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Dryships loses $223m in 2013, Economou upbeat on prospectsDryships loses $223m in 2013, Economou upbeat on prospects
Dryships may have lost $223.1m last year, but boss George Economou is upbeat about shipping market prospects in 2014.
1 Min Read
Kalyakan - stock.adobe.com
New York-listed Dryships reported a full year loss of $223.1m an improvement over a $246.8m loss in 2012. Losses included a $76.8m loss on the sale of four dry bulk carrier newbuildings. In fourth quarter of 2013 the company lost of $24.4m compared to $129.8m in the same period a year earlier.
With quarterly results improving Dryships chairman and ceo Economou is upbeat about prospects: “We are very excited about the prospects of the shipping markets. Following a period of oversupply the recent volatility in the tanker and drybulk sectors is a clear sign of a balanced supply-demand picture.
“Asset prices are rising which is a strong indication of current market sentiment. We are optimistic and expect a sustainable recovery in 2014 and beyond.”
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