Shipping Company Executives Make Moves

The Baltic Dry Index rose 1.352% or 19 points to settle at 1,424.

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

Teekay Corp. (NYSE:TK) has reached an agreement with Bill Berry who will join the company’s board of directors. Berry will replace J. Rod Clark who will retire this year.

Eagle Bulk Shipping (NASDAQ:EGLE) had various service agreements with Delphin Shipping, a company affiliated with Eagle’s CEO Zoulas. As a result, Eagle’s shareholders sued certain current and former officers of the company for breaching fiduciary duty.

Aboitiz Transport System Corporation’s resignation of Jon Ramon M. Aboitiz as director and chairman was approved.

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