George Economou majority of Dryships’ debt

Greek shipping magnate George Economou in control of 90% of Dryships debt. George Economou steps in to become lender of $85.1 million arranged by HSH Nordbank. New York listed Dryships is no longer in any danger from its lenders exercising any of their rights under the company’s existing defaults. Greek shipping magnate George Economou now hold $154.5 million of Dryships’ and remaining $16.5 million is still being negotiated with third party lenders.