Fri 18 Sep 2015, 09:50 GMT

Aegean renews revolving credit facilities worth $1.25bn


Both credit facilities - worth $1 billion and $250 million - were arranged by ABN AMRO.



Aegean Marine Petroleum Network Inc. has announced that it has successfully renewed its US$1 billion secured global borrowing base multicurrency revolving credit facility.

The bunker supplier said in a statement that all of the participating lenders had agreed to renew their commitments to Aegean "at improved terms in line with market conditions".

In addition to the global borrowing base, Aegean also announced that it has renewed its US$250 million secured U.S. borrowing base revolving credit facility at a reduced interest rate.

Aegean said that the U.S. borrowing base is to be used to finance the company's operations in the United States, whilst both borrowing base facilities will continue to be used for the financing of working capital needs in connection with the purchase, transportation, storage and sale of fuel and gas oil.

E. Nikolas Tavlarios, president of the company, remarked: "We appreciate the interest of our lenders and their confidence in our business model and ability to execute our strategy, which is focused on achieving profitable revenue growth and increased global market share."

The global borrowing base renewal was arranged by ABN AMRO as active bookrunning mandated lead arranger. ABN AMRO also acted as coordinator and agent in all capacities. The lending group includes the following banks: ABN AMRO, BNP Paribas, KBC, NATIXIS, Rabobank, ING, Societe Generale, Belfius, National Bank of Greece, Credit Suisse, Mashreqbank, Emirates NBD, and Arab Bank.

The U.S. borrowing base renewal was also arranged by ABN AMRO as sole lead arranger, bookrunner and syndication agent. ABN AMRO also acted as agent in all capacities. The lending group includes the following banks: ABN AMRO, BNP Paribas as Co-Agent, Natixis, Rabobank, ING, Macquarie and Societe Generale.


Christiania Energy headquarters. Christiania Energy relocates headquarters within Odense Harbour  

Bunker firm moves to larger waterfront office to accommodate growing team and collaboration needs.

AiP award ceremony for 20K LNGBV design. HD Hyundai Heavy Industries receives design approval for 20,000-cbm LNG bunkering vessel  

Bureau Veritas grants approval in principle following joint development project with South Korean shipbuilder.

Lloyd’s Register technical committee meeting in Spain. Peninsula outlines dual role in FuelEU Maritime compliance at Lloyd’s Register panel  

Marine fuel supplier discusses challenges for shipowners and opportunities for suppliers under new regulation.

Current status of fleet fuel types chart. LNG-fuelled container ships dominate January alternative-fuel vessel orders  

Container ships accounted for 16 of 20 alternative-fuelled vessels ordered in January, DNV reports.

Rick Boom, CIMAC and Professor Lynn Loo, GCMD. GCMD and CIMAC sign partnership to advance alternative marine fuel readiness  

Two-year agreement aims to bridge operational experience with technical standards for decarbonisation solutions.

Renewable and low-carbon methanol project pipeline chart as of January 2026. Renewable methanol project pipeline reaches 58.2m tonnes by 2031, GENA reports  

Project Navigator Methanol tracks 275 projects, including e-methanol, biomethanol and low-carbon methanol facilities globally.

Petrobras logo. Petrobras adjusts bunker pricing and minimum order volumes at Santos  

Brazilian supplier discontinues volume discount tier and lowers minimum order quantity from 1 March.

Viking Grace vessel. Viking Line secures biogas supply for 2026 after tenfold increase in biofuel use  

Åland-based ferry operator aims to maintain 50% biogas blend throughout the year on two vessels.

GNV Aurora vessel. GNV takes delivery of second LNG-powered vessel Aurora from Chinese shipyard  

Vessel to enter service on Genoa–Palermo route in April, completing first fleet renewal phase.

Tangier Maersk vessel. Maersk takes delivery of first methanol-capable vessel in 9,000-teu series  

Tangier Maersk is the first of six mid-size container ships with methanol-capable dual-fuel engines.