30 November, 2009
UPDATE 1-DryShips terminates deal to buy 2 Panamax vessels
* Says termination at no cost to company * Shares up 1 pct in after-hours trade
Nov 30 (Reuters) - DryShips Inc (DRYS.O) said it has terminated an agreement to buy two Panamax vessels as it could not get a period employment contract for the vessels within the agreed timeframe with the sellers.
The agreement was terminated at no cost to the company, DryShips said. Panamax vessels are the second largest type of dry bulk ships and their name is derived from their ability to pass through the Panama Canal.
Shares of the company were up 1 percent at $6.18 in after-hours trade. They closed at $6.12 Monday on the Nasdaq. (Reporting by Hezron Selvi in Bangalore; Editing by Ratul Ray Chaudhuri) ((hezron.selvi@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging; hezron.selvi.reuters.com@reuters.net))
Source: http://www.reuters.com
UPDATE 1-DryShips terminates deal to buy 2 Panamax vessels Added: (30.11.2009)
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