The Maersk family's investment company, A.P. Moller Holding, is rumored to be collaborating with an unknown party for an approaching takeover of Maersk Drilling, reports Danish media Berlingske. Maersk Group declines to comment on the rumors.
Danish tanker carrier Torm will issue 12.5 million new Class A common shares in a product placement guaranteed by major shareholder Oaktree Capital. The company has also revealed its expectations for last year's annual report.
EU Competitions Commissioner Margrethe Vestager has approved the state guarantee which the Croatian government will provide for a EUR 96 million loan to a yard on the verge of bankruptcy. She says the state aid complies with EU regulations.
The tanker market looks set to be challenging in 2018, estimate shipping executives from Nordea and DNB to ShippingWatch. "The downturn will probably last a little longer than we first anticipated," DNB's Kristin Holth tells ShippingWatch.