The Baltic Dry Index went down 1 point or 0.070% to 1,423 on Friday.
Here is your Cheat Sheet for interesting news at marine transportation companies:
A.P. Moeller-Maersk A/S will invest $1 billion in the development of oil fields in the North Sea. The fields are located in the Golden Eagle area, and the company is holding a stake of 31.56%.
Wisdom Marine Lines Co Ltd acquired 2 ships at a cost of NTD 3.058 billion each and ordered Murakami Hide Shipbuilding to build 2 vessels at a cost of NTD 1.64 billion. Also, the company announced issuance of 22.5 million new shares at a price of NTD 40 per share.
Diana Shipping (NYSE:DSX) was downgraded from outperform to underperform by Credit Suisse (NYSE:CS) on Friday. The bank cited supply-demand dynamics as one of the key reasons. The price target per share was cut from $15 to $8.