ATHENS, Greece, June 15, 2018 (GLOBE NEWSWIRE) -- DryShips Inc. (NASDAQ:DRYS) (“DryShips” or the “Company”), a
diversified owner and operator of ocean going cargo vessels, today announced that it has entered into agreements with unaffiliated
buyers, for the sale of two of its older Panamax drybulk carriers, built in 2002, for an aggregate gross sales price of $18.8
million. The vessels are scheduled for delivery to their buyers during the third quarter of 2018.
About DryShips Inc.
The Company is a diversified owner and operator of ocean going cargo vessels that operate worldwide. As of June
15, 2018, the Company operates a fleet of 36 vessels comprising of (i) 11 Panamax drybulk vessels; (ii) 5 Newcastlemax drybulk
vessels; (iii) 5 Kamsarmax drybulk vessels; (iv) 1 Very Large Crude Carrier; (v) 2 Aframax tankers; (vi) 2 Suezmax tanker; (vii) 4
Very Large Gas Carriers; and (viii) 6 Offshore Support Vessels, including 2 Platform Supply and 4 Oil Spill Recovery Vessels.
DryShips’ common stock is listed on the NASDAQ Capital Market where it trades under the symbol “DRYS.”
Visit the Company’s website at www.dryships.com
Forward-Looking Statement
Matters discussed in this press release may constitute forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. The Private Securities Litigation Reform Act of 1995 provides safe harbor
protections for forward-looking statements in order to encourage companies to provide prospective information about their business.
The Company desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is
including this cautionary statement in connection with such safe harbor legislation.
Forward-looking statements reflect the Company’s current views with respect to future events and financial
performance and may include statements concerning plans, objectives, goals, strategies, future events or performance, and
underlying assumptions and other statements, which are other than statements of historical facts.
The forward-looking statements in this press release are based upon various assumptions, many of which are
based, in turn, upon further assumptions, including without limitation, management’s examination of historical operating trends,
data contained in the Company’s records and other data available from third parties. Although the Company believes that these
assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and
contingencies that are difficult or impossible to predict and are beyond the Company’s control, the Company cannot assure you that
it will achieve or accomplish these expectations, beliefs or projections.
Important factors that, in the Company’s view, could cause actual results to differ materially from those
discussed in the forward-looking statements include the factors related to spin-off of the Company’s gas business, the strength of
world economies and currencies, general market conditions, including changes in charter rates, utilization of vessels and vessel
values, failure of a seller or shipyard to deliver one or more vessels, failure of a buyer to accept delivery of a vessel, the
Company’s inability to procure acquisition financing, default by one or more charterers of the Company’s ships, changes in demand
for drybulk, oil or natural gas commodities, changes in demand that may affect attitudes of time charterers, scheduled and
unscheduled drydockings, changes in the Company’s voyage and operating expenses, including bunker prices, dry-docking and insurance
costs, changes in governmental rules and regulations, changes in the Company’s relationships with the lenders under its debt
agreements, potential liability from pending or future litigation, domestic and international political conditions, potential
disruption of shipping routes due to accidents, international hostilities and political events or acts by terrorists.
Risks and uncertainties are further described in reports filed by DryShips Inc. with the Securities and Exchange
Commission, including the Company’s most recently filed Annual Report on Form 20-F.
Investor Relations / Media:
Nicolas Bornozis
Capital Link, Inc. (New York)
Tel. 212-661-7566
E-mail: dryships@capitallink.com