New Shipping Index begins trading

   The Philadelphia Stock Exchange said Monday it has begun trading options on a shipping index that seeks to reflect the performance of a broad cross-section of publicly traded companies involved in marine transportation.
   The index will track a variety of companies involved in the tanker, dry bulk, container and inland barge sectors.
   The SHX index “provides a tracking mechanism for companies involved in the highly volatile sector of domestic and global freight delivery for petroleum, dry bulk, chemical and agricultural goods,” said Daniel R. Carrigan, the exchange’s vice president of new product development.
   Companies in the index are: American Commercial Lines, Alexander & Baldwin Inc., DryShips Inc., Diana Shipping Inc., Eagle Bulk Shipping Inc., Excel Maritime Carriers Ltd., Frontline Ltd., General Maritime Corp., Kirby Corp., Nordic American Tanker Shipping, Overseas Shipbuilding Group, Ship Finance International Ltd., Seaspan Corp., Teekay Corp., Tsakos Energy Navigation Ltd., and Knightsbridge Tankers Ltd.