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.

Don’t Miss: Wall St. Cheat Sheet’s newest Feature Trades of the Month!

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.

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