Maersk Oil to Cut 200 Jobs

Denmark’s A.P. Moller-Maersk will cut 200 jobs in its Maersk Oil unit due to a drop in the oil price and to reduce operating costs by 20 percent over the next two years, it said on Thursday.

The cuts will fall in Maersk’s headquarters, Qatar and UK business locations, and will affect


CPP raises cash for debt deal

NASDAQ-listed Capital Product Partners (CPP) has priced a follow-on equity offering that will enable amendments to its credit facilities.
The mixed-fleet operator announced on 16 April that it will sell 12.8 million common units at USD9.53/unit, a relatively small 4% discount to the closing price

Dry bulk outlook sinks again

Evercore ISI analyst Jon Chappell has cut his already low rate projections for the dry bulk sector even further because of “hideous” market conditions.
Chappell had noted in February that rates were below operating costs, creating an “unsustainable” situation. “Well, 10 weeks later, not only are