Dry bulk shipping by sea got a bit cheaper on Monday. The Baltic Dry Index was down 12 points or 0.828% to settle at 1,437.
Here is your Cheat Sheet for interesting news at marine transportation companies:
1) AIT Corporation will offer 200,000 shares in the off-floor distribution on the Tokyo Stock Exchange on July 20-22. The offering price will be determined by the closing stock price before the offering, and this distribution may be cancelled.
2) CFO and director of NewLead Holdings Ltd., Allan Shaw, resigned from his posts. The interim CFO will be the current CEO Michael Zolotas.
3) Chang Jiang Shipping Group Phoenix Co. provided earnings guidance for the first half of FY2011. The company anticipated a loss of RMB 290 to 300 million for the period due to increased costs and low demand.