The Baltic Dry Index Breaks Above 1900
Marine shippers showed another day of strong performance. The Baltic Dry Index went up 1.333% or 25 points to settle at 1,901 on Tuesday.
Here is your Cheat Sheet for interesting news at marine transportation companies:
1) Rand Logistics Incorporated has started a public offering of 2,975 thousand shares. The proceeds will be primarily used for acquisition of 2 vessels and dividend payments to preferred stockholders.
2) Essar Ports Ltd. approved issuing common stock through GDRs and various convertible bonds. The issue will not exceed $500 million.
3) PT Trada Maritime Tbk. reported increase in the number of shares to 9,687,293,371. The increase is due to warrant exercise.