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The Baltic Dry Index was down 73 points or 3.491% to settle at 2018.
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Here is your Cheat Sheet for interesting news at marine transportation companies:
1) First Steamship Company Limited will create a subsidiary in Beijing by investing $1 million.
2) Maestra Navegacao e Logistica SA (subsidiary of TPI Triunfo Participacoes e Investimentos SA)signed a memo of understanding related to the joint venture with Nippon Yusen Kabushiki Kaisha. Nippon will have an initial stake of 10% with an option to increase it up to 20%.
3) Asagami Corporation updated its earnings guidance to the following figures: revenue of JPY 41.112 billion, operating profit of JPY 1.184 billion, ordinary profit of JPY 819 million and net profit of JPY 258 million.
Check Out: Investing In Transportation: Risk Factors for Marine Shippers.
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