Marine Shippers Catch Some Good News
Thursday was a sunny day for dry bulk carriers. The Baltic Dry Index rose 0.949% or 12 points to settle at 1,277.
Here is your Cheat Sheet for interesting news at marine transportation companies:
1) Teekay Corp. posted a smaller-than-expected Q2 loss of $96.5 million or $1.36 per share. The firm pointed out stronger demand for liquefied natural gas shipping and lower voyage costs.
2) Egyptian Transport and Commercial Service Co SAE will acquire 25% of Global Depot Solutions Co after Egyptian Transport’s board approved the transaction. The board also approved expansion of common equity capital to $1.5 million.
3) SKS Logistics Ltd’s board recommended to pay a dividend of INR 0.50 per share for FY2011.