DryShips posts loss on weaker shipping rates

Wed Nov 14, 2012 5:41pm EST

Nov 14 (Reuters) - DryShips Inc, a drybulk shipper and offshore contract driller, reported a quarterly loss on lower shipping rates.

The Greece-based company reported a net loss of $51.3 million, or 13 cents per share, in the third quarter, compared with a profit of $25.0 million , or 7 cents per share, a year earlier.

Revenue rose 8 percent to $343.6 million helped by its drilling unit.

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