Dryships Elects Directors as The Baltic Dry Index Sinks

The Baltic Dry Index tumbled 4.877% or 93 points to settle at 1814. It was a short stay above 1900.

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

1) Dryships Inc. (NASDAQ:DRYS) held an annual shareholders’ meeting electing as Class A Directors the following individuals: George Economou, Harry Kerames and Vassilis Karamitsanis. Ernst and Young was appointed as an independent auditor for the company.

2) AP Moeller Maersk A.S. was awarded a contract worth up to $51 million with Petronas, a Malaysian energy firm. The duration is 1 year with options for two 1-year extensions.

3) Daiichi Chuo Kisen Kaisha is planning to order 3 vessels from IHI Marine United, a shipbuilder. Also, Daiichi also said its mid-term dividend is forecast to not occur while year-end dividend is still unclear.

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

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