ATHENS, GREECE--(Dec 15, 2016) -  DryShips Inc. (NASDAQ: DRYS) (the "Company"), an international owner of drybulk carriers and offshore support vessels, announced today that, subject to definitive documentation, it has reached an agreement with Sifnos Shareholders Inc. ("Sifnos"), an entity controlled by our Founder and Chairman Mr. Economou, for the refinancing of the majority of its outstanding debt under a virtue of a new senior secured revolving facility ("New Revolver").

 

Under the terms of the New Revolver, Sifnos will extend a new loan of up to $200.0 million secured by all of the Company's present and future assets except the MV Raraka which will continue to be financed by its existing commercial lender. The new loan will carry an interest rate of Libor plus 5.5%, is non-amortizing, has a tenor of 3 years, has no financial covenants and will be arranged at a cost of 2.0%. In addition, Sifnos will have the ability to participate in realized asset value increases of the collateral base in a fixed percentage of 30%.

Euroseas Ltd. Announces Acquisition of Feeder Containership and Private Placement of Common Stock

 

MAROUSSI, ATHENS, GREECE--(Dec 15, 2016) - Euroseas Ltd. (NASDAQ: ESEA), an owner and operator of drybulk and container carrier vessels and provider of seaborne transportation for drybulk and containerized cargoes, announced today that it signed a memorandum of agreement to purchase the M/V RT Dagr, a feeder containership vessel of 1,645 teu built in 1998 in Germany, for approximately 900,000 shares of the Company's common stock. The vessel is expected to be delivered to the Company in December 2016. The vessel will be acquired from an entity controlled by Tennenbaum Capital Partners, a holder of the Company's preferred stock.

MAROUSSI, ATHENS, GREECE--( Nov 10, 2016) - Euroseas Ltd. ( NASDAQ : ESEA ), an owner and operator of drybulk and container carrier vessels and provider of seaborne transportation for drybulk and containerized cargoes, announced today its results for the three and nine month periods ended September 30, 2016.

 

Third Quarter 2016 Highlights:

Total net revenues of $7.2 million. Net loss of $4.6 million; net loss attributable to common shareholders (after a $0.4 million dividend on Series B Preferred Shares) of $5.0 million or $0.61 loss per share basic and diluted. Adjusted net loss attributable to common shareholders1 for the period was $0.401 per share basic and diluted. 

ROSLYN, N.Y., Aug. 31, 2016  -- Sino-Global Shipping America, Ltd. (SINO) ("Sino-Global", the "Company" or "us"), a non-asset based global shipping and freight logistic integrated solution provider, today announced that its Board of Directors has authorized management to move forward with the development of a mobile application that will provide a full-service logistics platform between the US and China to short-haul trucking in the US.

 

The decision follows an extensive review by the Company's management team and Board in identifying Sino-Global's key competitive advantages as an expert in global logistics between the US and China, and then leveraging that experience to both address the needs of its customer base and provide solutions to current issues affecting logistics and supply chain. The Company completed a market analysis and feasibility study related to building a mobile based logistics application for short-haul trucking in US ports to better manage the over 25 million containers, or TEU moving between China and US each year.