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

Latest News:

Ceremonies held for MSC Cruises ships with scrubbers
VLCC with '20%' bunker savings delivered to K Line
Vermont Bunkering and staff charged over fraudulent transactions in Singapore
Oil market seems to be struggling to find direction
Oil and fuel oil hedging market update
Aegean expects to launch 'at least one' new bunker supply service in H1 2018
Peninsula signs storage agreement in Houston with HOFTI
Another day in bearish territory?
Oil and fuel oil hedging market update
Aegean posts net loss and 23.2% drop in gross profit
Wartsila launches gas-fuelled version of world's most efficient four-stroke engine
Singapore updates restrictions on selling bunkers to North Korean ships




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
Rotterdam
Santos
Singapore
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
Contact & Terms
Contact Us
Advertise
Terms & Conditions
Privacy Policy
Events
Upcoming Events