SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

SCHEDULE 13D

Under the Securities and Exchange Act of 1934

(Amendment No. 18)

DryShips Inc.

(Name of Issuer)

Common Stock, par value $0.01, per share

(Title of Class of Securities)

Y2109Q101 (Common Shares)

(CUSIP Number)

William S. Haft

Orrick, Herrington & Sutcliffe LLP

51 West 52nd Street

New York, NY 10019-6142

+1-212-506-3740

(Name, Address and Telephone Number of Person

Authorized to Receive Notices and Communications)

March 24, 2016

(Date of Event Which Requires Filing of this Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of ss.240.13D-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box ☐.

The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

CUSIP No.

Y2109Q101

1.	NAME OF REPORTING PERSONS
	I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

	George Economou

2.	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP	(a)	[X]
		(b)	[_]

3.	SEC USE ONLY

4.	SOURCE OF FUNDS

	WC, BK, OO

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)

[_]

6.	CITIZENSHIP OR PLACE OF ORGANIZATION

	Greece

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON

7.	SOLE VOTING POWER

	0

8.	SHARED VOTING POWER

	4,722,685 Common Shares (1)(2)

9.	SOLE DISPOSITIVE POWER

	0 Common Shares

10.	SHARED DISPOSITIVE POWER

	4,722,685 Common Shares (1)(2)

11.	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

	4,722,685 Common Shares (1)(2)

12.

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES

[_]

13.	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

	17.6%

14.	TYPE OF REPORTING PERSON

	IN

(1) Mr. Economou may be deemed to beneficially own 4,722,685 common shares ("Common Shares") of DryShips Inc. (the "Issuer") consisting of: (i) 437,796 Common Shares owned by Elios Investments Inc. ("Elios"), a wholly-owned subsidiary of the Entrepreneurial Spirit Foundation, a Lichtenstein foundation controlled by Mr. Economou, the beneficiaries of which are Mr. Economou and members of his family (the "Foundation"), (ii) 752,000 Common Shares owned by Fabiana Services S.A., a Marshall Islands corporation controlled by Mr. Economou ("Fabiana"), (iii) 2,324,226 Common Shares owned by Sphinx Investment Corp., a Marshall Islands corporation controlled by Mr. Economou ("Sphinx"), and (iv) 10,180 Common Shares owned by Goodwill Shipping Company Limited, a Malta corporation controlled by Mr. Economou ("Goodwill"), (v) 1,198,483 Common Shares owned by the Entrepreneurial Spirit Holdings Inc., a Liberian Corporation ("Entrepreneurial Spirit Holdings") that is wholly-owned by the Foundation.

(2) 100,000,000 (4,000,000 on a post reverse stock split basis) shares of the Issuer's Series B Preferred Stock previously held by Sifnos Shareholders Inc. ("Sifnos") were repurchased and cancelled by the Issuer on March 24, 2016.

CUSIP No.

Y2109Q101

1.	NAME OF REPORTING PERSONS
	I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

	Sifnos Shareholders Inc.

2.	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP	(a)	[X]
		(b)	[_]
3.	SEC USE ONLY

4.	SOURCE OF FUNDS

	WC

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)

[_]

6.	CITIZENSHIP OR PLACE OF ORGANIZATION

	Republic of the Marshall Islands

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON

7.	SOLE VOTING POWER

	0 Common Shares

8.	SHARED VOTING POWER

	0 Common Shares(3)

9.	SOLE DISPOSITIVE POWER

	0 Common Shares

10.	SHARED DISPOSITIVE POWER

	0 Common Shares(3)

11.	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

	0 Common Shares (3)

12.

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES

[_]

13.	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

	0%

14.	TYPE OF REPORTING PERSON

	CO

(3) 100,000,000 (4,000,000 on a post reverse stock split basis) shares of the Issuer's Series B Preferred Stock previously held by Sifnos were repurchased and cancelled by the Issuer on March 24, 2016.

CUSIP No.

Y2109Q101

1.	NAME OF REPORTING PERSONS
	I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

	Elios Investments Inc.

2.	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP	(a)	[X]
		(b)	[_]
3.	SEC USE ONLY

4.	SOURCE OF FUNDS

	WC

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)

[_]

6.	CITIZENSHIP OR PLACE OF ORGANIZATION

	Republic of the Marshall Islands

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON

7.	SOLE VOTING POWER

	0 Common Shares

8.	SHARED VOTING POWER

	437,796 Common Shares

9.	SOLE DISPOSITIVE POWER

	0 Common Shares

10.	SHARED DISPOSITIVE POWER

	437,796 Common Shares

11.	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

	437,796 Common Shares

12.

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES

[_]

13.	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

	1.6%

14.	TYPE OF REPORTING PERSON

	CO

CUSIP No.

Y2109Q101

1.	NAME OF REPORTING PERSONS
	I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

	Fabiana Services S.A.

2.	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP	(a)	[X]
		(b)	[_]
3.	SEC USE ONLY

4.	SOURCE OF FUNDS

	OO

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)

[_]

6.	CITIZENSHIP OR PLACE OF ORGANIZATION

	Republic of the Marshall Islands

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON

7.	SOLE VOTING POWER

	0 Common Shares

8.	SHARED VOTING POWER

	752,000 Common Shares

9.	SOLE DISPOSITIVE POWER

	0 Common Shares

10.	SHARED DISPOSITIVE POWER

	752,000 Common Shares

11.	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

	752,000 Common Shares

12.

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES

[_]

13.	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

	2.8%

14.	TYPE OF REPORTING PERSON

	CO

CUSIP No.

Y2109Q101

1.	NAME OF REPORTING PERSONS
	I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

	Sphinx Investment Corp.

2.	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP	(a)	[X]
		(b)	[_]
3.	SEC USE ONLY

4.	SOURCE OF FUNDS

	OO

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)

[_]

6.	CITIZENSHIP OR PLACE OF ORGANIZATION

	Republic of the Marshall Islands

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON

7.	SOLE VOTING POWER

	0 Common Shares

8.	SHARED VOTING POWER

	2,324,226 Common Shares

9.	SOLE DISPOSITIVE POWER

	0 Common Shares

10.	SHARED DISPOSITIVE POWER

	2,324,226 Common Shares

11.	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

	2,324,226 Common Shares

12.

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES

[_]

13.	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

	8.6%

14.	TYPE OF REPORTING PERSON

	CO

CUSIP No.

Y2109Q101

1.	NAME OF REPORTING PERSONS
	I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

	Goodwill Shipping Company Limited

2.	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP	(a)	[X]
		(b)	[_]
3.	SEC USE ONLY

4.	SOURCE OF FUNDS

	OO

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)

[_]

6.	CITIZENSHIP OR PLACE OF ORGANIZATION

	Republic of the Malta

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON

7.	SOLE VOTING POWER

	0 Common Shares

8.	SHARED VOTING POWER

	10,180 Common Shares

9.	SOLE DISPOSITIVE POWER

	0 Common Shares

10.	SHARED DISPOSITIVE POWER

	10,180 Common Shares

11.	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

	10,180 Common Shares

12.

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES

[_]

13.	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

	0.04%

14.	TYPE OF REPORTING PERSON

	CO

CUSIP No.

Y2109Q101

1.	NAME OF REPORTING PERSONS
	I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

	Entrepreneurial Spirit Holdings Inc.

2.	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP	(a)	[X]
		(b)	[_]
3.	SEC USE ONLY

4.	SOURCE OF FUNDS

	SC

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)

[_]

6.	CITIZENSHIP OR PLACE OF ORGANIZATION

	Republic of Liberia

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON

7.	SOLE VOTING POWER

	0 Common Shares

8.	SHARED VOTING POWER

	1,198,483 Common Shares

9.	SOLE DISPOSITIVE POWER

	0 Common Shares

10.	SHARED DISPOSITIVE POWER

	1,198,483 Common Shares

11.	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

	1,198,483 Common Shares

12.

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES

[_]

13.	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

	4.5%

14.	TYPE OF REPORTING PERSON

	CO

CUSIP No.

Y2109Q101

The purpose of this Amendment No. 18 to the Schedule 13D is to report the change in beneficial ownership by certain Reporting Persons as a result of the: (1) a reverse stock split of the Issuer's Common Shares at a ratio of 25:1 which took effect on March 11, 2016; and (2) the repurchase by the Issuer and subsequent cancellation of 100,000,000 (4,000,000 on a post reverse stock split basis) shares of Series B Preferred Stock previously held by Sifnos, on March 24, 2016.

Item 1. Security and Issuer.

The address of the Issuer's principal executive offices is 109 Kifissias Avenue and Sina Street, Marousi, Athens, Greece.

Other than as described above there are no material changes from the Schedule 13D/A filed with the Commission on February 4, 2016.

Item 2. Identity and Background.

Sifnos' mailing address is c/o Mare Services Limited, 5/1 Merchants Street, Valletta, Malta.

Sifnos has not, during the last five years, been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors) and has not, during the last five years, been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding were or are subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, Federal or state securities laws or finding any violation with respect to such laws.

Other than as described above, there are no material changes from the Schedule 13D/A filed with the Commission on January 13, 2016.

Item 3. Source and Amount of Funds or Other Consideration.

The Issuer entered into a secured revolving facility agreement (the "Revolving Facility") with Sifnos on October 21, 2015, subsequently amended on November 11, 2015, pursuant to which the Issuer borrowed up to $60 million principal amount from Sifnos, as lender. Pursuant to the terms of the Revolving Facility, on December 23, 2015, the Issuer elected to exercise its right to convert $10 million in aggregate principal of the Revolving Facility into 100,000,000 shares of Series B Preferred Stock. The Issuer effected a reverse stock split of its Common Stock at a ratio of 25:1 on March 11, 2016. As per the Certificate of Designations governing the Series B Preferred Stock, the number of shares of Series B Preferred Stock was adjusted accordingly on March 11, 2016. On March 24, 2016, pursuant to the terms of the Preferred Stock Exchange Agreement (the "Preferred Stock Exchange Agreement"), the Issuer repurchased from Sifnos and subsequently cancelled the 100,000,000 (4,000,000 on a post reverse stock split basis) shares of Series B Preferred Stock. As agreed under the Preferred Stock Exchange Agreement, the Issuer and Sifnos entered into the Second Amendment to the Facility Agreement modifying the terms of the Revolving Facility as follows: (i) the maximum amount of Sifnos' commitment under the Revolving Facility has increased to $70 million from $60 million, (ii) the Issuer has the option to extend the maturity of the Revolving Facility by 12 months from October 21, 2018 to October 21, 2019, (iii) Sifnos will no longer have the right to convert a portion of the outstanding loans into either the Issuer's common stock or Ocean Rig UDW Inc.'s common stock beneficially owned by the Issuer and (iv) subject to Sifnos' prior written consent, the Issuer has the right to convert $8,750,000 of the outstanding balance of the loans under the Revolving Facility into 3,500,000 preferred shares of the Issuer, which have a voting power of 5:1 (vis-à-vis the common stock) and will mandatorily convert into common stock on a 1:1 basis within 3 months after such conversion.

Other than as described above, there are no material changes from the Schedule 13D/A filed with the Commission on January 13, 2016.

Item 4. Purpose of Transaction.

This Amendment Number 18 is being filed to report: (1) a reverse stock split of the Issuer's Common Shares at a ratio of 25:1 which took effect on March 11, 2016; and (2) the repurchase by the Issuer and subsequent cancellation of 100,000,000 (4,000,000 on a post reverse stock split basis) shares of Series B Preferred Stock previously held by Sifnos on March 24, 2016. Other than as described above, there are no material changes from the Schedule 13D/A filed with the Commission on January 13, 2016.

Item 5. Interest in Securities of the Issuer.

(a), (b) Based on the foregoing and unless otherwise disclosed, the Reporting Persons report beneficial ownership of the following Common Shares:

Mr. Economou may be deemed to beneficially own 4,722,685 Common Shares representing approximately 17.6% of the total outstanding Common Shares. Mr. Economou has the sole power to vote or direct the vote of 0 Common Shares and the shared power to vote or direct the vote of 4,722,685 Common Shares. Mr. Economou has the sole power to dispose or direct the disposition of 0 Common Shares and has shared power to dispose or direct the disposition of 4,722,685 Common Shares.

Elios may be deemed to beneficially own 437,796 Common Shares representing 1.6% of the total outstanding Common Shares. Elios has the sole power to vote or direct the vote of 0 Shares and has the shared power to vote or direct the vote of 437,796 Common Shares. Elios has the sole power to dispose or direct the disposition of 0 Common Shares the shared power to dispose or direct the disposition of 437,796 Common Shares.

Fabiana may be deemed to beneficially own 752,000 Common Shares representing 2.8% of the total outstanding Common Shares. Fabiana has the sole power to vote or direct the vote of 0 Shares and the shared power to vote or direct the vote of 752,000 Shares. Fabiana has the sole power to dispose or direct the disposition of 0 Common Shares and has shared power to dispose or direct the disposition of 752,000 Common Shares.

Sphinx may be deemed to beneficially own 2,324,226 Common Shares representing 8.6% of the total outstanding Common Shares. Sphinx has the sole power to vote or direct the vote of 0 Shares and the shared power to vote or direct the vote of 2,324,226 Shares. Sphinx has the sole power to dispose or direct the disposition of 0 Common Shares and the shared power to dispose or direct the disposition of 2,324,226 Common Shares.

Goodwill may be deemed to beneficially own 10,180 Common Shares representing 0.04% of the total outstanding Common Shares. Goodwill has the sole power to vote or direct the vote of 0 Common Shares and the shared power to vote or direct the vote of 10,180 Common Shares. Goodwill has the sole power to dispose or direct the disposition of 0 Common Shares and the shared power to dispose or direct the disposition of 10,180 Common Shares.

Entrepreneurial Spirit Holdings beneficially owns 1,198,483 Common Shares representing 4.5% of the total outstanding Common Shares. Entrepreneurial Spirit Holdings has the sole power to vote or direct the vote of 0 Common Shares and the shared power to vote or direct the vote of 1,198,483 Common Shares. Entrepreneurial Spirit Holdings has the sole power to dispose or direct the disposition of 0 Common Shares and the shared power to dispose or direct the disposition of 1,198,483 Common Shares.

(c) Other than as described herein, no transactions in the Common Shares were effected by the persons enumerated in Item 2 during the past 60 days.

(d) No person other than the Reporting Persons is known to have the right to receive, or the power to direct the receipt of, dividends from, or proceeds from the sale of, the Shares reported in this Schedule 13D.

(e) Not Applicable.

Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer.

Other than as described above there are no material changes from the Schedule 13D/A filed with the Commission on January 13, 2016.

Item 7. Material to be Filed as Exhibits.

Exhibit A:	Agreement between the Reporting Persons to file jointly.

SIGNATURE

After reasonable inquiry and to the best of our knowledge and belief, the undersigned certify that the information set forth in this statement is true, complete and correct.

Dated: April 4, 2016

	/s/ George Economou
	George Economou*

	ELIOS INVESTMENTS INC.

	BY:	/s/ Dr. Renato Cefai
	Name:	Dr. Renato Cefai
	Title:	Sole Director

	FABIANA SERVICES S.A.

	BY:	/s/ Andri Papadopoulou
	Name:	Andri Papdopoulou
	Title:	Sole Director

	GOODWILL SHIPPING COMPANY LIMITED

	BY:	MARE SERVICES LIMITED

	BY:	/s/ Dr. Adriano Cefai
	Name:	Dr. Adriano Cefai
	Title:	Director of Mare Services Limited

	SPHINX INVESTMENT CORP.

	BY:	MARE SERVICES LIMITED

	BY:	/s/ Dr. Adriano Cefai
	Name:	Dr. Adriano Cefai
	Title:	Director of Mare Services Limited

	ENTREPRENEURIAL SPIRIT HOLDINGS INC.

	BY:	MARE SERVICES LIMITED

	BY:	/s/ Dr. Adriano Cefai
	Name:	Dr. Adriano Cefai
	Title:	Director of Mare Services Limited

	SIFNOS SHAREHOLDERS INC.

	BY:	/s/ Dr. Adriano Cefai
	Name:	Dr. Adriano Cefai
	Title:	Director of Mare Services Limited

____________

*	The Reporting Person disclaims beneficial ownership except to the extent of his pecuniary interest therein.

EXHIBIT A

Joint Filing Agreement

The undersigned, being duly authorized thereunto, hereby executes this agreement as an exhibit to this Schedule 13D/A with respect to the shares of common stock of DryShips, Inc. to evidence the agreement of the below-named parties, in accordance with the rules promulgated pursuant to the Securities Exchange Act of 1934, as amended, to file this Schedule 13D/A jointly on behalf of each such party.

Dated: April 4, 2016

/s/ George Economou
George Economou

ELIOS INVESTMENTS INC.

BY:	/s/ Dr. Renato Cefai
Name:	Dr. Renato Cefai
Title:	Sole Director

FABIANA SERVICES S.A.

BY:	/s/ Andri Papadopoulou
Name:	Andri Papadopoulou
Title:	Sole Director

GOODWILL SHIPPING COMPANY LIMITED

BY:	MARE SERVICES LIMITED

BY:	/s/ Dr. Adriano Cefai
Name:	Dr. Adriano Cefai
Title:	Director of Mare Services Limited

SPHINX INVESTMENT CORP.

BY:	MARE SERVICES LIMITED

BY:	/s/ Dr. Adriano Cefai
Name:	Dr. Adriano Cefai
Title:	Director of Mare Services Limited

ENTREPRENEURIAL SPIRIT HOLDINGS INC.

BY:	MARE SERVICES LIMITED

BY:	/s/ Dr. Adriano Cefai
Name:	Dr. Adriano Cefai
Title:	Director of Mare Services Limited

SIFNOS SHAREHOLDERS INC.

BY:	/s/ Dr. Adriano Cefai
Name:	Dr. Adriano Cefai
Title:	Director of Mare Services Limited