Homepage | NEWS | Economy | Finance | Your Money - Details
Curious George
am from were involved in shipping," he explains. He toiled at shipping outfits in New York before returning to Greece, buying his first ship in 1986 and later setting up Cardiff.

Economou returned to New York in 1998 to raise $175 million in junk bonds to expand his fleet with a company called Alpha Shipping. A year after raising the cash, Alpha failed to make an interest payment and defaulted on the bonds, which largely ended up with Credit Suisse. Operating smoothly in bankruptcy court, Economou struck a deal that let him pay creditors 37 cents on the dollar and left him in possession of most of the fleet.

In 2005 Economou tapped Wall Street again, taking DryShips public and raising $250 million. Good timing. The company rose on the growth in global trade, particularly iron ore demand from China, which pushed charter rates higher. The price to charter one of DryShips' bigger vessels jumped from $30,000 a day in January 2006 to $170,000 in November 2007, though prices have weakened lately

1 2 3 4 5 6 7 8 9
Previous Next
NEWS

 
 
About Us
Contact

Add to Favorite





3D Secure ISBANK TURKEY
 
  Copyright © Kobi21.com 2006-2017