DryShips charters four ships

DryShips charters four ships DryShips Inc., an Athens-based operator of drybulk vessels listed on NASDAQ, said it had chartered four ships:
   The 1999-built 73,688 dwt Panamax bulk carrier 'Ocean Crystal' was entered into a time charter for a period of six to eight months at a daily rate of $40,000. This new time charter commenced on March 31.
   The 2001-built 170,662 dwt capesize bulk carrier 'Alameda' was entered into a time charter for a period of nine to 11 months at a daily rate of $73,000. This new time charter commenced on April 13.
   The 1994-built 45,863 dwt handysize bulk carrier 'Matira' was entered into a time charter for a period of six to eight months at a daily rate of $32,300. This new time charter is expected to commence by April 20.
   The 1995-built 75,473 dwt Panamax bulk carrier 'Waikiki' was entered into a time charter for a period of nine to 11 months at a daily rate of $36,750. This new time charter is expected to commence April 13.
   “With these fixtures we have secured 44 percent of our fleet days in 2007 under short- and medium-term time charters,' George Economou, chairman and chief executive officer of DryShips. 'Our strategy is to take advantage of the robust freight rate environment, positioning the company to benefit from the upside potential of the spot market with the remaining 56 percent of our fleet days. We believe this strategy enables us to optimize our fleet operation and maximizes our earnings potential.”
   DryShips owns and operates a fleet of 33 drybulk carriers comprising four capesize, 24 Panamax, three handymax and two Panamax vessels on order.