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Bunker firm Aegean Marine Petroleum Network Inc. has provided an insight into latest developments during its quarterly earnings call on March 17.

E. Nikolas Tavlarios [pictured], president, explained that almost 60 percent of the company's storage facility in Fujairah is now in use, with Aegean occupying approximately 25 percent. The company was said to be "on track to achieve our stated goal of 100 percent lease rate by the end of 2015".

Commenting on its U.S. operation, Tavlarios said: "During the fourth quarter, we completed the integration of our U.S. Gulf Coast and the port of Los Angeles operations. These operations include one ocean-going bunkering tank with offshore operations in the Gulf, and a storage facility of the Vopak Terminal, Los Angeles, which should become the cornerstone of our U.S. West Coast operations."

Regarding Aegean's new operations in Germany and Russia, the company's president said: "We also expect to complete the integration of Hamburg, Germany, and St. Petersburg, Russia operations within the first quarter this year.

"We are excited that the integration of our Hamburg and St. Petersburg operations are nearly complete, and with recent volatility in our sector we expect there to be even greater opportunities to enter new markets."

Explaining in further detail about the development of the company's new markets, Tavlarios said that the "integration process" of its Los Angeles operation was at "probably 90 percent", and that the Gulf of Mexico business was "probably 90 percent there, maybe 85 percent on that one".

Hamburg was described as being "around the 50 percent mark in terms of its expectations right now", with Tavlarios adding that in "the next few weeks, early next quarter, they will be probably in the 90 percent mark".

Commenting on the financial contribution of the Fujairah operation, Tavlarios said: "There is going to be contribution in the first quarter for sure, and in the second quarter we think will be even larger than the first quarter. We have customers already in our facility right now, particularly on the clean side of the capacity, and we are looking to fill up the clean capacity, and also give - lease out some of the - call it the dirty product capacity, and that will be done over the next two to three quarters."

In terms of estimated volumes, Tavlarios said: "We would think that the L.A. business can do somewhere around 50,000 tons a month, we think. And the Gulf of Mexico is probably around 30,000 tonnes a month, and Hamburg, Germany could be somewhere in that neighbourhood too, maybe a hair more, but right around there."