Pankaj Khanna Appointed As CEO of Ocean Rig
Pankaj Khanna has been appointed as President and Chief Executive Officer of Ocean Rig UDW, a global provider of offshore deepwater drilling services, effective January 1, 2018. Khanna is 47 years old with 29 years of varied experience in the maritime & offshore industry. He last served as Chief Executive Officer of Pioneer Marine Inc, a drybulk company that he founded in 2013.
Dryships to Expand into VLGC sector
DryShips Inc. announced today that, it has agreed to enter into a “zero cost” Option Agreement (“LPG Option Agreement”) with companies controlled by its Chairman and Chief Executive Officer, Mr. George Economou, to purchase up to four high specifications Very Large Gas Carriers (“VLGC(s)”) capable of carrying liquefied petroleum gas (“LPG”) that are currently under construction at Hyundai Heavy Industries (“HHI”) .
Ocean Rig UDW Announces Closing
DryShips Inc. a global provider of marine transportation services for drybulk and petroleum cargoes, and through its majority owned subsidiary, Ocean Rig UDW Inc. of offshore deepwater drilling services, announced today that Ocean Rig closed the previously announced offering of 28,571,428 shares of its common stock par value $0.01 per share, at a price of $7.00 per share.
$475 mi Committed Financing for Ocean Rig Apollo
DryShips Inc. a global provider of marine transportation services for drybulk and petroleum cargoes, and through its majority owned subsidiary, Ocean Rig UDW Inc. of offshore deepwater drilling services, today announced that Ocean Rig has received firm commitments from lenders for up to a $475 million syndicated secured term loan to partially finance the construction costs of the Ocean Rig Apollo.
Dryships Inks Deal with ENI
DryShips Inc. a global provider of marine transportation services for drybulk and petroleum cargoes, and through its majority owned subsidiary, Ocean Rig UDW Inc. (“Ocean Rig”), of offshore deepwater drilling services, today announced that certain of Ocean Rig’s subsidiaries have entered into an Omnibus Agreement with ENI Angola S.p.pursuant to which…
Ocean Rig's $120m Loan Agreement with DryShips
Ocean Rig UDW Inc. On November 18, 2014, Ocean Rig’s $120 million loan to its majority shareholder, DryShips Inc. (―DryShips‖), was approved by a special committee of Ocean Rig’s Board of Directors which received a fairness opinion from Global Hunter Securities, a division of Seaport Global Securities LLC, and the loan agreement was executed by both companies.
Dryships Achieves Refinance of 5% Convertible Notes
DryShips Inc. * The Company has repurchased on the open market and cancelled $191,090,000 principal amount of its 5% convertible notes. No other repurchases are planned and therefore the outstanding principal balance of the 5% convertible notes due on December 1 is $508,910,000. * On October 29, 2014, the Company signed definitive documentation for the Nordea $170 million senior secured credit facility.
Ocean Rig, Petrobras Agree to $1.1b Drill Ships Lease
Cyprus-based Ocean Rig UDW Inc said on Monday that it signed a $1.1 billion three-year contract with Brazil's state-run oil company, Petroleo Brasileiro SA, to extend a lease on two ultra-deepwater drilling ships. Petrobras, as the Brazilian oil company is known, will get the ships, the Ocean Rig Corcovado and Ocean Rig Mykonos, for 1,095 days, Ocean Rig said in a statement.
Ocean Rig Partners Files for IPO
DryShips Inc. through its majority owned subsidiary, Ocean Rig UDW Inc. of offshore deepwater drilling services, today announced that Ocean Rig’s wholly-owned subsidiary, Ocean Rig Partners LP filed a Registration Statement on Form F-1 with the Securities and Exchange Commission (the “SEC”) for the initial public offering of its common units representing limited partner interests.
$ 1.3 bln Term Loan Facility for Subsidiaries of Ocean Rig UDW Inc.
DryShips Inc. a global provider of marine transportation services for drybulk and petroleum cargoes, and through its majority owned subsidiary, Ocean Rig UDW Inc. of offshore deepwater drilling services, today announced that due to favorable loan market conditions, Ocean Rig’s wholly owned subsidiaries, Drillships Ocean Ventures Inc. and Drillships Ventures Projects Inc.…
Ocean Rig Ultra-Deepwater Drillship Contract Confirmed
Greece's DryShips, says that its wholly-owned subsidiary, Ocean Rig UDW, has signed definitive documentation, following the previously announced contract award for the 6-year contract for drilling operations offshore Angola for its ultra deepwater drillship the 'Ocean Rig Skyros'. The contract is for drilling operations offshore Angola for Total E&P in its Angola Block 32…
Deadbeat Chinese Shipyards Stick Banks with Default Bill
Chinese banks are stuck in a lose-lose legal battle between domestic shipyards and foreign buyers over billions of dollars in refund guarantees that are supposed to be paid out if shipbuilders fail to deliver on time. One in three ships ordered from Chinese builders was behind schedule in 2013, according to data from Clarksons Research, a UK-based shipping intelligence firm.
