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Investing In Transportation: Shippers Faced Headwinds Monday

Shippers faced a headwind on Monday. Baltic Dry Index retreated 3 points or 0.211% to settle at 1,419.

Don’t Miss: Wall St. Cheat Sheet’s newest Feature Trades of the Month !

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

1) Safe Bulkers Inc. (NYSE:SB) appointed Frank Sica and Konstantinos Adamopoulos as Class III directors during the annual shareholders’ meeting. Deloitte, Hadjipavlou and Sofianos & Cambanis S.A. were approved as independent auditors.

2) Prosafe SE bought a 20.6% stake in Floatel International Ltd on July 4 th . The price per share was NOK 16, and the company bought 19,924,066 shares.

3) Teekay Corp. (NYSE:TK) contracted with BG Norge Ltd . For Teekay’s FPSO unit. The delivery will take place in Q1 of 2014, and it will be used in an oil and gas field in the North Sea.

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