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Mon 29 Dec 2014, 11:32 GMT

Aegean's Melissanidis named amongst shipping's most influential people


Dimitris Melissanidis, founder of Aegean Marine Petroleum Network Inc., is ranked 97th in a list of the 100 most influential people in shipping.

The founder of Aegean Marine Petroleum Network Inc. (AMPNI), Dimitris Melissanidis [pictured], has been named amongst Lloyd's List's 100 most influential people in shipping.

In its profile of Melissanidis, ranked 97th in the online maritime newspaper's Top 100, Lloyd's List suggests that 2014 has been a year of "mixed blessings" for Aegean as the company was owed $7.8 million by bankrupt marine fuel seller OW Bunker, whilst pointing out that the collapse of one of the world's leading bunker players has also been an opportunity for its rivals.

Aegean is the world's leading independent physical supplier with annual volumes in 2013 of 9,941,061 tonnes. Towards the end of last year, Aegean completed the acquisition of Hess's U.S. East Coast bunkering business and the company finished the year with a rise in net income of $27.1 million, up $7 million, or 34.8 percent, on the $20.1 million net income achieved during the previous year.

This year, the company has forged ahead with its storage terminal project in Fujairah, which has already commenced commercial operations and is expected to begin to contributing to the firm's turnover in the first quarter of 2015.

In January, Aegean secured a $150 million working capital facility from ABN AMRO Capital USA LLC. The Greek supplier later snapped up OW Bunker's storage contract at the Vopak storage terminal in Los Angeles and confirmed that it plans to start a bunker supply operation in California during the first quarter of 2015.

Last week, Aegean also said that it is to commence immediate marine fuel supply operations in the Gulf of Mexico after assuming the contracts for two ocean-going bunkering tankers previously under charter to OW Bunker.

In an earnings call last month, E. Nikolas Tavlarios, President of Aegean Marine Petroleum Network, said "2015 may be a landmark year".

As well as being the founder of Aegean Marine Petroleum Network, Melissanidis is also majority shareholder of gambling firm OPAP, co-owner of investment fund Emma Delta Ltd and owner of AEK Athens F.C.

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