FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
For the month of January 2006
DRYSHIPS, INC.
80 Kifissias Avenue
Amaroussion 15125, Athens Greece
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file
annual reports under cover Form 20-F or Form 40-F.
Form 20-F [X] Form 40-F [_]
Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes [_] No [X]
INFORMATION CONTAINED IN THIS FORM 6-K REPORT
Attached hereto as Exhibit 1 is a copy of the dividend release issued by
DryShips, Inc. today, January 20, 2006
DryShips Inc. Releases Updated Fleet Deployment Details
ATHENS, Greece, January 20, 2006 - DryShips Inc. (Nasdaq: DRYS), released today
updated fleet depolyment details for its fleet of 27 vessels.
The table below describes in detail our fleet development and current employment
profile:
Year Current Redelivery
Built Deadweight Type Employment (mid-range) *
----- ---------- ---- ---------- -------------
Capesize
Manasota 2004 171,061 Capesize $46,000 Oct-06
Alameda 2001 170,662 Capesize Spot - $53,250
Shibumi 1984 166,058 Capesize Spot - $60,000
Netadola 1993 149,475 Capesize Spot - $24,000
Panamax
Conrad Oldendorff 2002 76,623 Panamax $42,000 Dec-06
Coronado 2000 75,706 Panamax Spot - $13,000
Waikiki 1995 75,473 Panamax Spot - $16,750
Mostoles ** 1981 75,395 Panamax Baumarine $15,289
Linda Oldendorff 1995 75,100 Panamax $43,250 Aug-06
Sonoma ** 2001 74,786 Panamax Baumarine $17,966
Catalina 2005 74,432 Panamax Spot - $17,150
Ocean Crystal 1999 73,688 Panamax Spot - $16,500
Belmonte 2004 73,601 Panamax $42,000 Jun-06
Toro ** 1995 73,034 Panamax Baumarine $18,183
Xanadu 1999 72,270 Panamax $35,000 Aug-06
La Jolla 1997 72,126 Panamax Spot - $17,900
Lace rta ** 1994 71,862 Panamax Baumarine $17,623
Panomios ** 1995 71,747 Panamax Baumarine $18,263
Paragon 1995 71,259 Panamax $30,000 Sep-06
Iguana 1996 70,349 Panamax Spot - $13,000
Daytona ** 1989 69,703 Panamax Baumarine $16,482
Lanikai ** 1988 68,676 Panamax Baumarine $16,220
Tonga ** 1984 66,798 Panamax Baumarine $14,551
Flecha ** 1982 65,081 Panamax Baumarine $14,856
Striggla ** 1982 64,747 Panamax Baumarine $14,364
Handymax
Alona ** 2002 48,640 Handymax Baumarine $17,632
Matira 1994 45,863 Handymax $21,750 Feb-06
DRYSHIPS FLEET 2,264,215
----------------------------
* Where the Redelivery column is left blank it signifies that the vessel is
trading in the spot market. For those vessels employed in the spot market and
where rates are quoted, the Company has calculated the estimated rates under
current specific contracted voyages. The Company gives no guarantee that these
rates are correct, or that the rates are sustainable beyond the duration of the
current voyage. The quoted rates are not indications of future earnings and the
Company gives no assurance or guarantee of future rates after the current
voyage.
** Indicates vessels that are trading in the Baumarine Pool. Rates quoted refer
to the vessels earnings as last reported, usually the previous month's earnings.
DryShips Inc., based in Greece, is an owner and operator of drybulk carriers
that operate worldwide. As of the day of this Release, DryShips owns a fleet of
27 drybulk consisting 4 Capesize, 21 Panamax and 2 Handymax vessels, with a
combined deadweight tonnage of approximately 2.3 million. DryShips is the second
largest Panamax operator in the world.
DryShips Inc.'s common stock is listed on NASDAQ National Market where it trades
under the symbol "DRYS".
Forward-Looking Statements
Matters discussed in this release may constitute forward-looking statements.
Forward-looking statements reflect our current views with respect to future
events and financial performance and may include statements concerning plans,
objectives, goals, strategies, future events or performance, and underlying
assumptions and other statements, which are other than statements of historical
facts. The forward-looking statements in this release are based upon various
assumptions, many of which are based, in turn, upon further assumptions,
including without limitation, management's examination of historical operating
trends, data contained in our records and other data available from third
parties. Although DryShips Inc. believes that these assumptions were reasonable
when made, because these assumptions are inherently subject to significant
uncertainties and contingencies which are difficult or impossible to predict and
are beyond our control, DryShips Inc. cannot assure you that it will achieve or
accomplish these expectations, beliefs or projections. Important factors that,
in our view, could cause actual results to differ materially from those
discussed in the forward-looking statements include the strength of world
economies and currencies, general market conditions, including changes in
charterhire rates and vessel values, changes in demand that may affect attitudes
of time charterers to scheduled and unscheduled drydocking, changes in DryShips
Inc.'s operating expenses, including bunker prices, dry-docking and insurance
costs, or actions taken by regulatory authorities, potential liability from
pending or future litigation, domestic and international political conditions,
potential disruption of shipping routes due to accidents and political events or
acts by terrorists.
Risks and uncertainties are further described in reports filed by
DryShips Inc. with the US Securities and Exchange Commission.
Visit our website at www.dryships.com
Company Contact:
Christopher J. Thomas
Chief Financial Officer
DryShips Inc.
011-30-210-809-0570
E-mail: finance@dryships.com
Investor Relations/Media:
Nicolas Bornozis
Capital Link, Inc. (New York)
Tel. 212-661-7566
E-mail: nbornozis@capitallink.com
23113.0002 #636246