DryShips Updates Financing While Baltic Dry Index Continues Slide

Hire rates for marine transporters showed weakness on Tuesday. The Baltic Dry Index retreated 9 points or 0.635% to close at 1,409.

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

Dryships (NASDAQ:DRYS) received support from syndicate members to amend their $495 million loan facility. Now the company is able to do full draw downs. The facility is used to finance Ocean Rig Mykonos.

Severnoye morskoye parokhodstvo OAO, a Russian dry bulk carrier, will skip the dividend distribution this year. Last year, it paid out RUB 5.43 and RUB 12.71 per common and preferred share respectively.

Tsakos Energy Navigation (NYSE:TNP) sold the aframax tanker Vergina II. The vessel was built in 1991, and it will be delivered to new owners by the end of this month.

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