Shipping shares slide in unison with BDI

Tokyo: All 10 companies in the Topix Marine Transportation Index fell after the Baltic Dry Index declined 1.9 percent yesterday, taking losses in the past two days to 5.1 percent.
Mitsui O.S.K. Lines Ltd., which operates the world’s largest merchant fleet, lost 2.5 percent to 506 yen. Nippon Yusen K.K., Japan’s largest shipping company by sales, retreated 2.4 percent to 289 yen. STX Pan Ocean Co., South Korea’s biggest bulk carrier, lost 3.1 percent to S$13.80 in Singapore. [25/11/09]