Marine transporters sailed through a small storm on Monday. The Baltic Dry Index lost 0.9615 or 13 points to settle at 1,340.
Here is your Cheat Sheet for interesting news at marine transportation companies:
1) China Shipping Haisheng Co. gave guidance on net income for the first 2 quarters of FY 2011. The company expects to increase its net income for this period by 50% from the same period a year ago which was RMB 15,952,449.57.
2) Costamare Inc is buying a containtership with capacity of 5,000 TEU for around $55 million. Also, management will propose to the board an 8% dividend increase.
3) Star Bulk Carriers Corp. (NASDAQ:SBLK) is planning to publicly offer 16,500,000 common shares and use the proceeds for vessel acquisition. Investment banking arms of RBC (NYSE:RY) and Deutsche Bank (NYSE:DB) are book-runners for the deal.