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.
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.