Dry Bulk Carriers Lost in the Balance of Economic Fears

Dry bulk carriers continued to retreat on the hire rates side on Monday. The Baltic Dry Index was down 6 points or 0.454% to settle at 1,317. The past two weeks the BDI has been locked in a downward trend.

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

1) Danaos Corporation (NYSE:DAC) appointed Evangelos Chatzis as new CFO effective July 22.

2) Sociedade Comercial Orey Antunes SA approved public offering of 1.3 million shares with nominal value of 1 euro per share. This offering represents 10% of existing shares.

3) Zhongchang Marine Company’s Board of Directors approved corrective actions with regard to corporate governance and internal control. These 2 issues were identified by Guangdong Regulatory Bureau of China Securities Regulatory Commission.

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