Diana Shipping and Oceanfreight Take Big Steps for Business

Tuesday was a stormy day for marine transporters. The Baltic Dry Index lost 26 points or 1.809% to settle at 1,411.

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Here is your Cheat Sheet for interesting news at marine transportation companies:

1) Oceanfreight Inc. (NASDAQ:OCNF) effected a reverse 20 to 1 stock split on July 6. The company’s shares will be trading for 20 days starting July 6 under the symbol (OCNFD) to show this decision.

2) Diana Shipping (NYSE:DSX) took delivery of a 2007-built Panamax vessel that was renamed from “Corona” to “Arethusa” by the new owner. The vessel has a capacity of 73,593 dwt, and it has been chartered to Cargill International S.A.

3) Teekay Corporation (NYSE:TK) will pay a common stock dividend on July 29 to shareholders on the record as of July 15. The dividend is $0.31625 per share.

Check Out: Investing In Transportation: Risk Factors for Marine Shippers.