BUNKER INDEX :: Price Index, News and Directory Information for the Marine Fuel Industry



« News Home
:: Monthly Archive

News Topics
:: Air Pollution
:: Agreements & M&A's
:: Alternative Fuels
:: BunkerBlog
:: Cargoes & Storage
:: Company News
:: Efficiency, Costs & Charges
:: Environment
:: Events
:: Financial
:: Fuel Quality & Testing
:: Lubes & Additives
:: Oil Spills
:: People
:: Port News
:: Projects
:: Regulation, Legal
:: Services, Products,Technology
:: Statistics & Research
:: Vessels

Regional Archive
:: Americas
:: Asia/Oceania
:: Europe
:: M.East/Africa


BUNKER INDEX :: Price Index, News and Directory Information for the Marine Fuel Industry
Home » News





Aegean expecting 'strong growth' from bunker trading

03 Mar 2017 09:05 GMT

Bunker firm forecasts positive future for trading as division sells 12.9% of Q4 volumes.



The president of Aegean Marine Petroleum Network Inc., Nikolas Tavlarios, said on Thursday that the company expects to see "some strong growth" from its bunker trading division.

The marketing and trading division, which was launched in early 2015 shortly after the demise of leading international bunker trading company OW Bunker, in November 2014, achieved sales of 512,000 metric tonnes during the fourth quarter of 2016. The figure represents 12.9 percent of Aegean's total sales (3,954,700 tonnes).

Speaking during the company's quarterly earnings call, Tavlarios noted: "You're seeing our retail sales trading is starting to grow."

On the company's expectations for the future, Tavlarios remarked: "There's certainly a long run rate for that [trading] business. It's in its pretty early days and it's already starting to [show in] our strong results here."

Headquartered in Piraeus, Greece, Aegean's worldwide trading division was launched in 2015 with offices in Piraeus, Singapore, Hamburg and St. Petersburg. This has since been expanded to Dubai, Shanghai, New York, Rio de Janeiro and Seoul.

Jamaica

During the earnings call, Tavlarios also referred to the possibility of developing a storage terminal in Jamaica, where the company operates as a physical supplier in Kingston, Falmouth, Ocho Rios and Montego Bay.

Tavlarios noted: "That's something we examine. Again, we have a really good asset there [in Jamaica] with a very good piece of land which could - you could build a terminal at. It certainly could play well into the 2020 regulation on low sulphur. But we're not really prepared - we're not in a position to discuss any plans yet on that, so very, very early in."

Montreal and Barcelona

Aegean recently wound down operations in Montreal and Barcelona. Commenting on the decision, Tavlarios explained: "We continue to optimize our network and deploy at and in areas of highest return. To meet the evolving needs of our global customer base, we now have operations in over 30 ports worldwide. We will continue to rationalize expenses and monitor and measure progress within markets to ensure appropriate cost rationalization."

Tavlarios added: "We don't bail out on a market just on the basis of what might happen one quarter, we actually look at things in try and spend some time with that cycle. If there's better opportunities for resources, that's what we're going to do, we're going to pull out and deploy them elsewhere."




Related Links:

Aegean sells 16.5m tonnes in 2016, net income jumps 44.7%
Aegean acquires OBAST, launches Rostock bunker supply operation
Aegean upsizes and prices senior notes offering
Aegean to offer $100 million in convertible senior notes
Aegean posts 55% jump in Q3 net income
Aegean Marine Petroleum S.A.
Greece

Latest News:

Another first for Wartsila as wireless charging for hybrid coastal ferry is 'successfully' tested
Scandlines hails bunker-saving summer for hybrid ferries
BHP, GoodFuels to collaborate on biofuel bunker project in Singapore
The OPEC / non-OPEC meeting takes centre stage
Oil and fuel oil hedging market update
Fluxys focuses investment on Zeebrugge's fifth LNG tank and second jetty
Rolls-Royce and Inmarsat sign ship energy management agreement
Bullish market sentiment remains, short-term dark horse could be meeting comments
Oil and fuel oil hedging market update
Dorian LPG and ABS to conduct feasibility study of LPG as marine fuel
CO2 reduction addressed at ECSA seminar
World's first dual-fuel boxship conversion completed




Page Links:

Prices
Africa
Asia
Latin America
Middle East
North America
North Europe
South Europe
Index Summary
Price Highlights
Commentaries
Futures
Prices
Antwerp
Busan
Cape Town
Fujairah
Houston
Istanbul
Kaohsiung
Las Palmas
Maracaibo
New Orleans
Piraeus
Rio de Janeiro
Rotterdam
Santos
Singapore
Directory
Africa
Asia
Central America
Middle East
North America
North Europe
Oceania
South America
South Europe
Directory
Germany
Gibraltar
Greece
Hong Kong
Italy
Japan
Netherlands
Panama
Russia
Singapore
South Africa
South Korea
Spain
Turkey
United Arab Emirates
United Kingdom
United States
News
Latest News
Blogs
Archive
Americas
Asia
Europe
Middle East
News
Air Pollution
Agreements & M&A's
Alternative Fuels
Cargoes & Storage
Efficiency, Costs & Charges
Environment
Events
Financial
Fuel Quality
Lubes & Additives
Oil Spills
People
Port News
Projects
Regulation/Legal
Services, Products, Technology
Statistics & Research
Vessels
Events
Upcoming Events