DryShips is poised to strike deals that will result the New York-listed shipowner reducing its controversial related-party management fees paid to private affiliates of chief executive George Economou.
The bulker and offshore vessel owner revealed the changes as part of a prospectus for a planned $200m fundraiser that will see Kalani Investments buy shares over 24 months.
DryShips plans to strike new deals with Economou’s TMS Bulkers and TMS Offshore Services affiliates that call for them to charge the public company $1,644 per vessel per day, according to a filing with the US Securities & Exchange Commission.
33%