The Baltic Dry Index Drops Below 1800
The Baltic Dry Index lost 2.756% or 50 points to settle at 1,764. It’s been a rare move below 1800.
Here is your Cheat Sheet for interesting news at marine transportation companies:
1) Eagle Bulk Shipping (NASDAQ:EGLE) took delivery of 2 vessels, Roadrunner and Puffin, in September. Both ships are Supramax size with capacity of 58,000 dwt. The vessels are expected to contribute over 35 million dollars in revenue upon start of their charters.
2) Eitzen Chemical ASA canceled 2 leases for Sichem Pandora and Sichem Padua vessels. Eitzen will pay $2 million compensation to the company that leased out the vessels.
3) Shanghai Ya Tong Co. appointed Zhang Zhong and Gu Ping as Chairman and General Manager respectively. The appointments are in effect starting September 19.