The Baltic Dry Index Bounces Back

The Baltic Dry Index rose 0.187% or 4 points to settle at 2140. So much for the two day sell off.

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

1) Solvtrans Holding ASA appointed Roger Halsebakk as CEO of the firm. He has been an interim CEO since the beginning of this year.

2) GC Rieber Shipping ASA entered into a 2-year agreement with Mexico-based Oceanografia for chartering Polar Queen, a subsea vessel. The contract will start this November.

3) Teekay Corporation is in talks to buy 3 floating production storage vessels from Sevan Marine ASA. Also, TK is planning to pay Sevan to upgrade the Voyageur and buy 40% stake in Sevan. Total estimated cost is $823 million.

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

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