Greek diversified owner and operator of ocean-going cargo vessels DryShips has completed the dry-docking and installation of ballast water treatment systems (BWTSs) and scrubbers on seven of its vessels.

This is in line with the company’s plan to future proof its fleet, estimated to be worth up to USD 100 million and announced in May this year.

As of September 17, 2019, DryShips has incurred approximately $26.1 million of total costs and 300 off-hire days future Proofing of its fleet.

“Within 2020, we expect to continue to execute our plan to upgrade additional vessels and we expect to incur approximately 843 off-hire days for a total estimated cost of $65.8 million,” said a release from the company.

“In connection with the installation of scrubbers on our vessels we have entered into agreements, directly or indirectly, with internationally recognized financial institutions and/or export credit agencies to borrow up to $36.4 million to partly finance such installations,” it said.

DryShips revealed it has entered into agreements with financial institutions and export credit agencies to borrow up to USD 36.4 million to partly finance scrubber installations. The loans have not yet been drawn, the company added.