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: More time needed to file annual report

Says it requires time to complete its consolidated financial statements and assess internal control over financial reporting.



Aegean unable to meet April 30 filing deadline. Bunker firm says it doesn't expect to submit its 2017 report during the first half of May. Image credit: Pixabay CC0


Updated on 01 May 2018 00:15 GMT

Aegean Marine Petroleum Inc on Monday informed the US Securities and Exchange Commission (SEC) that it will not be able to file its annual report for the year ended December 31, 2017 by the prescribed April 30 due date for filing - because it requires more time.

In a notification of late filing with the SEC, Aegean explained: "Additional time is needed for the Registrant to complete its consolidated financial statements and assessment of internal control over financial reporting for the fiscal year ended December 31, 2017."

The bunker firm added that it was unlikely that it will be able to file its annual report during the first half of May.

"The Registrant does not expect to file the Annual Report within the 15 calendar days following the prescribed due date, but is using its best efforts to finalize its financial statements and file its Annual Report with the Commission as soon as practicable," Aegean stated.

The notification form was authorized by Aegean's new chief financial officer (CFO), Pavlos Papageorgiou, whose position was formally announced just over a month ago, on March 17. He succeeded Spyros Gianniotis.

In the form, Aegean indicated that it expects to file a "significant change in results of operations from the corresponding period for the last fiscal year", and referred to its preliminary unaudited results - revealed in March - when a net loss of $29.3m was recorded for 2017 compared to a net income of $51.9m for 2016.

Aegean said the loss was "a result of, among other things, challenging bunker market conditions and non-recurring expenses".

The NYSE-listed company added that the aforementioned financial data "consists of preliminary unaudited results, which will not be final until the Registrant files its audited financial statements in the Annual Report".






Related Links:

Aegean Marine Petroleum appoints new CFO
Aegean confirms expiration of HEC share purchase agreement
Aegean posts 2017 loss as YoY gross spread plummets
Aegean defines strategy to improve gross spread
Aegean and RBM to try and resolve their differences in HEC case
Aegean Marine Petroleum S.A.
Greece
United States

Latest News:

Brightoil's Singapore CEO and head of bunkering steps down
ICS urges IMO action to avoid sulphur cap 'chaos'
Oil and fuel oil hedging market update
KC LNG unveils 'game-changer' Y-piece that slashes bunker delivery times
Maersk COO explains unit cost at fixed bunker price, outlines fuel efficiency plan
Brent remains near $80
Oil and fuel oil hedging market update
MAN Diesel & Turbo joins SEA\LNG
Crew member files lawsuit against Vane Line Bunkering
GoodFuels secures funding from Dutch investment firm
Maersk Ocean profit impacted by higher bunker costs... which surge to almost $1.2bn
Oil and fuel oil hedging market update




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