Mon 14 Dec 2009, 13:33 GMT

Aegean signs $100 million credit facility


Company plans to use its liquidity to increase market share and capitalize on 'consolidation opportunities'.



Aegean Marine Petroleum Network Inc. have today announced it has signed a new $100 million secured credit facility and letter of credit with BNP Paribas.

The facility is a one year uncommitted trade finance facility that the company considers to have competitive pricing.

Commenting on the news, E. Nikolas Tavlarios, President, said, "Our new $100 million credit facility significantly increases Aegean's access to capital during a challenging credit environment and further expands our relationships with global lending institutions. With this agreement, our company now has a total of $420 million in working capital credit facilities under favorable terms.

"We intend to utilize our considerable financial liquidity, a key competitive advantage for Aegean, to increase market share in our 14 existing locations and capitalize on additional consolidation opportunities that meet management's strict return criteria. In accomplishing these strategic objectives, we expect to grow future sales volumes and strengthen Aegean's leading brand for the global supply of marine fuel."

Greece 

Aurora Botnia vessel. Gasum and Wasaline extend bio-LNG supply agreement to 2027  

Nordic energy company renews fuel supply contract with Finnish-Swedish ferry operator through 2027.

Luminara vessel truck-to-ship bunkering. MOL Techno-Trade completes Japan’s first truck-to-ship LNG bunkering for foreign cruise vessel  

Ritz-Carlton cruise ship Luminara refuelled at Nagasaki Port using truck-to-ship method on 3 April.

NKT Eleonora vessel cable-laying. Methanol-ready cable-laying vessel hull launched in Romania  

Shipbuilder floats hull of dual-fuel vessel designed for offshore renewable energy cable operations.

Dr Prapisala Thepsithar, GCMD. GCMD biofuels lead receives Singapore standardisation award  

Dr Prapisala Thepsithar recognised for contributions to marine biofuel specification development.

Marine Energy Wales (MEW) Conference 2026 graphic. Certas Energy to attend Marine Energy Wales conference in April  

Marine fuel supplier to discuss sector solutions at UK marine renewable energy conference.

Dinamo IV vessel. Sanmar completes sea trials for 14th all-electric tugboat  

Turkish shipyard marks half-century in business with latest battery-powered vessel from ElectRA series.

Gotland Horizon X render. Echandia to supply battery system for Gotlandsbolaget’s hybrid ferry  

Swedish battery supplier wins contract for new high-speed catamaran operating between Visby and Nynäshamn.

Suezmax crude oil tanker render. Guangzhou Shipyard secures Suezmax order, delivers vessels ahead of schedule  

China State Shipbuilding subsidiary reports nine vessel deliveries in the first quarter of 2026.

Clean ammonia project pipeline chart as of March 2026. Renewable ammonia pipeline grows despite Norway project freeze  

GENA Solutions tracks 325 projects totalling 146 MMT of capacity by 2034 despite execution challenges.

Antwerpen and Arlon naming ceremony. Exmar names world’s first ocean-going ammonia dual-fuel gas carriers in South Korea  

Two 46,000-cbm vessels can reduce CO₂ emissions by up to 90% during navigation.