The Baltic Dry Index retreated 18 points or 1.389% to settle at 1,278. The storm in the dry bulk shipping world refuses to leave.
Here is your Cheat Sheet for interesting news at marine transportation companies:
1) DHT Maritime Inc. (NYSE:DHT) made an extension until August 4th for the offer it made on July 5th for Saga Tankers ASA. All previously announced offer terms are unchanged.
2) Kyoei Tanker Co. Ltd. reiterated its mid-year (6 months) guidance for revenue of JPY 6,200 million, operating profit of JPY 700 million, and ordinary profit of JPY 250 million. It lowered the forecast for net profit expecting to post a loss of JPY 90 million.
3) Shinwa Kaiun Kaisha Ltd. lowered its mid-year earnings guidance. Revenue is expected at JPY 63,000 million, ordinary profit of negative JPY 300 million, and net profit of JPY 100 million.