The Baltic Dry Index Continues to Rally
Maritime shippers continue to shrug off economic concerns. The Baltic Dry Index ose 3.625% or 53 points to settle at 1,515.
Here is your Cheat Sheet for interesting news at marine transportation companies:
1) Nordic Tankers A.S. reiterated its FY2011 earnings guidance. The figures are in US dollars as follows: revenue in the range of 95 to 105 million, EBIDTA between 10 and 20 million, and loss before adjustments in the range of 15 to 25 million.
2) Sumatec Resources Berhad appointed Mr. Chong Chee Liong as new CEO on August 19.
3) Ma Zehua will replace Wei Jiafu as CEO of China COSCO Holdings Company Limited. The firm is expected to announce on Wednesday that Wei Jiafu stepping down from this post but remaining chairman of the board.