Shares in the George Economou-led bulker and tanker company, which owns a majority stake in Ocean Rig, rose by 14.8% to hit $1.94 in mid-afternoon trading on the Nasdaq stock exchange. It was the biggest gainer among US-listed shipping shares on a day that was broadly mixed for stock prices in the sector.
As TradeWinds reported earlier in the day, Ocean Rig agreed to provide a $120m loan to DryShips to help it repay $700m in 5% convertible notes that are due in December.
The
