The WorkBoat Composite Index was up six points in June, less
than 1 percent. For the month, winners topped losers by a ratio
of more than 7 to 5.
Leading gainers included Global Industries , U.S. Shipping
Partners and Cal Dive International . Those losing ground
included American Commercial Lines . Global was up over 13
percent in June. The company announced that its Mexican
subsidiary had been awarded a $40 million contract with PEMEX
for pipeline work.
Shares in American Commercial Lines dipped 18 percent in
June. The barge operator was downgraded after it lowered its
earnings guidance to between $1.45 and $1.65 a share from $1.75
and $1.95. ACL cited further weakness in the spot grain market
from first-quarter levels and lower-than-expected production at
its barge construction unit during the second quarter. - David
Krapf