DryShips Makes a Huge Deal as the Baltic Dry Index Falls

Another weak day for dry bulk rates on Wednesday. The Baltic Dry Index lost 0.532% or 7 points to settle at 1,310. The BDI has now fallen for two and a half weeks.

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

1) Dryships Inc. (NASDAQ:DRYS) will acquire Oceanfreight Inc. (NASDAQ:OCNF) Each Oceanfreigh share will receive $11.25 in cash and 0.52326 shares of Ocean Rig UDW Inc.

2) Courage Marine Group Limited incorporated its subsidiary Courage Energy Resources Limited in Virgin Islands. The subsidiary is engaged in energy investment holdings primarily.

3) Baltic Trading Ltd. (NYSE:BALT) will pay $0.10 dividend on August 12 to shareholders on the record on August 5.

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