DryShips Agrees To Sell Tanker Fleet

DryShips Inc. said late Monday it entered agreements to sell its tanker fleet to interests controlled by its chairman and CEO. DryShips shares rose 3.7% to 84 cents a share on moderate volume. The marine transportation company said it agreed to sell four of its Suezmax-class tankers for $245 million to entities controlled by George Economou. DryShips also entered into unconfirmed agreements to sell six Aframax-class tankers to Economou for a potential price of up to $291 million, the company said.