DryShips has revisited the loss side of the ledger, thanks primarily to millions of dollars in dry-docking costs for seven ships.
The George Economou-led diversified owner posted a $12.7m loss for the second quarter versus a $3.25m profit for the same period last year.
The bottom line was mostly impacted by a $26.1m spend on putting exhaust gas scrubbers and ballast water treatment systems on seven ships over 300 off-hire days.
The company, which owns tanker pool operator Heidmar, expects to spend another $65.8m on doing the same to more vessels through 2020, as perviously announced.
Revenue from the company's bulkers, tankers and OSVs came in at $40.5m, down from $42.6m a year earlier.
Dryships' shareholders next month will vote on its proposed merger with Economou's DryShips off the public market.
This plan was welcomed by several analysts when it was announced in August, given DryShips' history of fiscal fraud and investor lawsuits.
