http://www.marine-money.com The Ship Finance Publication Of Record Mon, 16 Jan 2012 04:04:51 +0000 en hourly 1 http://wordpress.org/?v=3.2.1 http://www.marine-money.com/archive/why-do-one-deal-when-you-can-do-two-%e2%80%93-teekay-teams-with-marubeni-to-purchase-maersk-lng http://www.marine-money.com/archive/why-do-one-deal-when-you-can-do-two-%e2%80%93-teekay-teams-with-marubeni-to-purchase-maersk-lng#comments Thu, 13 Oct 2011 15:37:34 +0000 marinemoney http://www.marine-money.com/?p=11118 http://www.marine-money.com/archive/why-do-one-deal-when-you-can-do-two-%e2%80%93-teekay-teams-with-marubeni-to-purchase-maersk-lng/feed 0 http://www.marine-money.com/archive/name-change-needed-%e2%80%93-drys-goes-wet http://www.marine-money.com/archive/name-change-needed-%e2%80%93-drys-goes-wet#comments Thu, 06 Jan 2011 15:50:08 +0000 carisk http://www.marine-money.com/?p=9926 http://www.marine-money.com/archive/name-change-needed-%e2%80%93-drys-goes-wet/feed 0 http://www.marine-money.com/archive/%e2%80%9cdryrigs%e2%80%9d http://www.marine-money.com/archive/%e2%80%9cdryrigs%e2%80%9d#comments Thu, 30 Sep 2010 14:38:59 +0000 marinemoney http://www.marine-money.com/?p=9656 http://www.marine-money.com/archive/%e2%80%9cdryrigs%e2%80%9d/feed 0 http://www.marine-money.com/archive/clean-up-then-to-market-dryships-cuts-atm-deal-with-deutsche-bank http://www.marine-money.com/archive/clean-up-then-to-market-dryships-cuts-atm-deal-with-deutsche-bank#comments Thu, 09 Sep 2010 20:14:20 +0000 marinemoney http://www.marine-money.com/?p=9604 http://www.marine-money.com/archive/clean-up-then-to-market-dryships-cuts-atm-deal-with-deutsche-bank/feed 0 http://www.marine-money.com/archive/at-last-2 http://www.marine-money.com/archive/at-last-2#comments Thu, 12 Aug 2010 16:02:52 +0000 marinemoney http://www.marine-money.com/?p=9484 http://www.marine-money.com/archive/at-last-2/feed 0 http://www.marine-money.com/archive/complications-unwound-how-drys-got-there http://www.marine-money.com/archive/complications-unwound-how-drys-got-there#comments Thu, 16 Jul 2009 20:56:10 +0000 carisk http://marine-money.com/?p=6112 DryShips announced that it had agreed to acquire, from George Economou and other third party interests, the remaining 25% minority interest in Primelead Shareholders, Inc., the holding company and operating platform for DryShips ultra deepwater drilling rig assets including two owned and operational ultra deepwater semisubmersibles and 4 newbuilding drillship contracts as well as the commercial operating company, Ocean Rig ASA. The transaction was structured to minimize the cash outlay and leverage with the price being dilution. Consideration for the transaction included $50 million in cash and the issuance of $280 million in face value of mandatorily]]> http://www.marine-money.com/archive/complications-unwound-how-drys-got-there/feed 0 http://www.marine-money.com/archive/even-the-analysts-wonder http://www.marine-money.com/archive/even-the-analysts-wonder#comments Thu, 14 May 2009 14:45:19 +0000 carisk http://marine-money.com/?p=5537 DryShips, clearly seeing the opportunity, had once again gone out into the equity market. The company announced its second ATM Equity Offering through Merrill Lynch for up to $475 million of the company’s common shares. Back in January, DryShips had entered into an earlier agreement to sell up to $500 million, which it completed last month selling a total of approximately 95.7 million shares, generating net proceeds of ~$487.5 million after commissions. An ATM equity offering allows the company to issue common shares at any time and]]> http://www.marine-money.com/archive/even-the-analysts-wonder/feed 0 http://www.marine-money.com/archive/what-do-dryships-and-the-us-government-have-in-common http://www.marine-money.com/archive/what-do-dryships-and-the-us-government-have-in-common#comments Thu, 29 Jan 2009 20:44:26 +0000 carisk http://marine-money.com/?p=5116 DryShips announced two transactions designed to reduce their future financial commitments. In the first instance, it transferred its interest in three Capesize newbuildings to an unaffiliated entity generating savings of $364 million in exchange for total consideration of $116.4 million. The latter consists of $36.4 million in previously paid deposits, $30 million paid to the purchaser and two additional tranches of $25 million payable to the purchaser within 30 and 60 days respectively. The last two tranches are payable either in cash or, at the option of the company, by issuing 2.6 million shares of common stock for each tranche. Not surprisingly, the company also unwound the previously announced acquisition of 9 Capesize bulkcarriers from]]> http://www.marine-money.com/archive/what-do-dryships-and-the-us-government-have-in-common/feed 0 http://www.marine-money.com/archive/economou-out http://www.marine-money.com/archive/economou-out#comments Thu, 23 Oct 2008 20:09:51 +0000 carisk http://marine-money.com/?p=4598 Top Ships today announced the expiration of the exclusivity agreement between the company and an affiliate of George Economou. Mr. Economou’s affiliated entity had reduced its offer to acquire the outstanding shares of the company to $3 per share in cash, down from the original $6. After consideration of numerous factors, including the recent volatility in global markets and decline in the company’s share price, the company’s board has determined that this offer is not in the best interest of shareholders]]> http://www.marine-money.com/archive/economou-out/feed 0 http://www.marine-money.com/archive/a-true-believer-consolidates-and-does-right-by-his-shareholders http://www.marine-money.com/archive/a-true-believer-consolidates-and-does-right-by-his-shareholders#comments Thu, 09 Oct 2008 18:38:51 +0000 carisk http://marine-money.com/?p=4523 George Economou announced a major strategic expansion by DryShips Inc. (“DryShips”) in both its bulk and offshore businesses. First, the company acquired the equity interests, from entities controlled by Cardiff Marine Inc., in nine Capesize bulkcarriers, including five newbuildings for $690 million payable in the form of 19.4 million newly issued shares ($35.50 per share) of Dryships common stock increasing the number of shares to 63 million. In addition, the company will assume $216.3 million of existing debt and $262 in remaining shipyard installments. The latter will be funded by debt facilities in place except for $16 million that will be funded by cash flow. The implied aggregate value of the purchase is estimated at approximately $1.2 billion or approximately $130 million per vessel. ]]> http://www.marine-money.com/archive/a-true-believer-consolidates-and-does-right-by-his-shareholders/feed 0