Q1 earnings

Oil Major Chevron Cuts Capital Spending Amid COVID19 Crisis

  • COVID-19’s seismic effect on the fortunes of tanker owners is beginning to become clearer.
  • Chevron Corporation is reducing its capital and exploratory budget for the next five years by billions of U.S. dollars compared to previous guidance.
  • Chevron said it would spend $14 billion next year and no more than $16 billion a year through 2025.
  • It previously said it would spend $19 billion to $22 billion a year through 2024 before the pandemic.

Chevron Corp. is cutting its annual capital spending...

https://mfame.guru/oil-major-chevron-cuts-capital-spending-amid-covid19-crisis/

Feedership Proprietor Witnesses Murky Market With Plunging Charter Rates!

  • MPCC had been affected in the course of the interval by the fast decline in day by day rent charges within the sector.
  • In Q1, MPCC’s common day by day rent charge throughout its fleet stood at a wholesome $8,969 of the ultimate quarter of final 12 months.
  • The margin between day by day rent charges and working prices is more likely to erode significantly.

Oslo-listed feedership proprietor MPC Container Ships (MPCC) has posted a web lack of $10.7m for the primary quarter and warned traders of...

https://mfame.guru/feedership-proprietor-witnesses-murky-market-with-plunging-charter-rates/

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