New fund for investing in shipping
An Illinois-based securities company has launched an exchange traded fund that invests in 30 shipping companies.
Claymore Securities Inc. of Lisle, Ill., said the Claymore/Delta Global Shipping Index ETF, will be traded on the New York Stock Exchange’s NYSE Arca electronic trading system under the symbol SEA.
“Maritime shipping is the primary means of international transportation for raw materials and finished goods, and we are pleased to be the first ETF provider to offer investors access to a global portfolio of 30 maritime shipping stocks with a current combined market cap near $50 billion,” said Christian Magoon, president of Claymore Securities Inc.
The ETF will seek to replicate the Delta Global Shipping Index (DGAGSI), which was developed and is maintained by Delta Global Indices LLC, a wholly owned subsidiary of Delta Global Advisors Inc.
The Delta Global Shipping Index includes companies that derive at least 80 percent of their revenues from the seaborne transport of goods or the operating and/or leasing of ships. Additionally, constituents must have market capitalizations of at least $250 million and a 30-day average daily trading volume of at least $2 million.
The 30 companies in the index are:
' Golden Ocean Group Ltd.
' Frontline Ltd.
' OceanFreight Inc.
' Teekay Tankers Ltd.
' Star Bulk Carriers Corp.
' Diana Shipping Inc.
' Paragon Shipping Inc.
' DHT Maritime.
' Euroseas Ltd.
' Knightsbridge Tankers Ltd.
' Danaos Corp.
' Seaspan Corp.
' Teekay LNG Partners LP.
' General Maritime Corp.
' Ship Finance International Ltd.
' Eagle Bulk Shipping Inc.
' Genco Shipping & Trading Ltd.
' Tsakos Energy Navigation Ltd.
' Horizon Lines Inc.
' Navios Maritime Holding Inc.
' Alexander & Baldwin Inc.
' Kawasaki Kisen Kaisha Ltd.
' Nippon Yusen KK.
' Teekay Corp.
' Overseas Shipholding Group Inc.
' Excel Maritime Carriers.
' Mitsui OSK Lines Ltd.
' COSCO Corp Singapore Ltd.
' China COSCO Holdings Co Ltd.
' DryShips Inc.
Delta said its index measures the performance of companies listed on global developed market exchanges, and defines those as markets as countries with western-style legal systems, transparent financial rules for financial reporting and sophisticated, liquid and accessible stock exchanges with readily exchangeable currencies.
Claymore said this category comprises the major stock exchanges in Australia, Austria, Belgium, Canada, Denmark, Finland, France, Germany, Hong Kong, Ireland, Italy, Japan, Netherlands, New Zealand, Norway, Portugal, Singapore, Spain, Sweden, Switzerland, the United States and the United Kingdom.
New fund for investing in shipping
