The Baltic Dry Index Rallies as Diana Shipping Secures a Deal

Last week ended on an uptrend for marine shippers. The Baltic Dry Index advanced 0.783% or 10 points to settle at 1,287.

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Here is your Cheat Sheet for interesting news at marine transportation companies:

1) Rand Logistics Inc. (NASDAQ:RLOG) reiterated its earnings guidance. The figure for EBIDTA is $34 and $36 million.

2) Diana Shipping Inc. (NYSE:DSX) was awarded a time charter contract for the m/v Boston, a Capesize ship, by Morgan Stanley Capital Group Inc. (NYSE:MS). The charter will start in September at a gross daily rate of $14,000, and the duration will be between 22 to 26 months.

3) Zhongchang Marine Company Limited appointed Zhou Jianmin as Chairman of the Board starting August 12, 2011.

Check Out: Investing In Transportation: Risk Factors for Marine Shippers.