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Lloyd Fonds CEO to step down prematurely due to disagreements

The chief executive of German shipping company Lloyd Fonds, Dr. Torsten Teichert, will step down a year and a half before his contract expires due to disagreements with the board of directors. This will impact the company's earnings for the year.

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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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