DryShips has paid the last of its commercial loans, completing a series of financial moves that have left it with $384m in cash in the bank and just $200m in loan debt.
The George Economou-led company said that it has paid the remaining $15.2m balance on the loan, plus overdue interest.
The move puts finishing touches to an effort that has seen the shipowner return to buying mode and clear away loans that had previously gone unpaid thanks to Kalani Investments pumping $450m in to the company.
