DryShips Inc, a Greek owner of deep-water drilling rigs and vessels that transport iron ore and coal, said it had received two contracts worth a combined $495 million for two new rigs that will be delivered this year. DryShips subsidiary Ocean Rig entered into a contract with Petrobras Tanzania for Ocean Rig Poseidon for a period of 600 days for $353 million, the company said in a statement. Another new rig, the Ocean Rig Corcovado, has been contracted out to Edinburgh-based Cairn Energy Plc
for a period of six months, the company said in a separate statement. The value of the contract stands at $142 million. DryShips signed a deal in October last year with subsidiaries of Houston-based Vanco Overseas Energy Ltd for the new rig Olympia. A fourth new rig, the Myconos, is waiting for contracts. DryShips rose 10 cents, or 1.9 percent, to $5.29 in Nasdaq Stock Market composite trading at 10.50 a.m. yesterday. Shares have dropped 14 percent from a year ago.
(Bloomberg)
