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.
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.