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Libya adds to OPEC's burden as output at highest since 2014

Libya's oil output is at a two-year high, and the soaring oil production puts pressure on the OPEC members who recently signaled that they may extend cuts amid a slump in oil.

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Torm to issue new shares with support from equity fund

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 approves state aid for Croatian shipyard

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.

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