The company was hit by a combination of weak dry freight rates and much higher drilling rig operating expenses.
Combined revenues were up 8% to $343.6m thanks to a 26% jump in drilling revenues to $285m, but hit by a 37% fall in voyage revenues to $58m.
Dryships’ bulker fleet achieved a daily time charter equivalent (TCE) rate of $12,727 versus the $26,732 seen a year ago.
The
