Oceanfreight Reports a Net Loss while The Baltic Dry Index Stalls

The Baltic Dry Index lost 4 points or 0.26% to settle at 1,537. The BDI has been rallying lately.

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

1) Oceanfreight Inc. (OCNFD) recently reported Q2 results. The firm posted a net loss of $1 million influenced by $2 million loss on the sale of M/T Olinda.

2) Azuma Shipping Co., Ltd. is going to establish 2 subsidiaries, Azuma Mongolia LLC and Tandem Mongolia LLC, in September. The subsidiaries will be engaged in delivery of machines and air & ocean shipping respectively.

3) Teledata Marine Solutions Ltd.’s decision to extend its financial year was approved by the Chennai Registrar of Companies.

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