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Panoil Petroleum loses Singapore bunker license

A Singapore-based bunker company had its license revoked after several inspections revealed irregularities. The company has made alterations on mass flow meters on various vessels.

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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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