The Baltic Dry Index finally ended a seven day slide and rose 5 points or 0.357% to 1,405.
Here is your Cheat Sheet for interesting news at marine transportation companies:
Shareholders of Oceanfreight (NASDAQ:OCNF) approved a reverse stock split with a potential ratio between 1 for 3 and 1 for 20. The proposal is related to class A shares.
Kirby Corporation, a US shipper, shared its 2011 2nd quarter guidance. The company expects to earn between 72 to 77 cents a share versus street estimated EPS of $0.70.
Neptune Orient Lines, a Singaporean shipper, ordered 10 ships (14,000-TEU) from Hyundai Samho Heavy Industries Co. and 2 ships (9,200-TEU) from Daewoo Shipbuilding & Marine Engineering Co. The delivery dates are in years 2013 and 2014.