Sign up
Log in Sign up
Fri 14 Oct 2011, 17:31 GMT

Aegean shares upgraded to 'neutral'


Shares of Greek bunker supplier are upgraded by US investment research firm.

Analysts at Chicago-based investment research firm Zacks Investment Research have upgraded shares of Aegean Marine Petroleum Network from an "underperform" rating to a "neutral" rating.

Shares of Aegean on the New York Stock Exchange (NYSE) opened at $4.99 per share on Friday. The company has a 52-week trading range of $3.19 - $17.79. The stock's 50-day moving average is $4.93 and its 200-day moving average is $6.65. The company has a market capitalization of $230.11 million.

In its last financial results published for the second quarter of 2011, Aegean reported that net income fell US$8.8 million, or 73.3 percent, in a comparison with the same period last year.

Net income for the three months ended June 30, 2011 was $3.2 million, or $0.07 basic and diluted earnings per share compared to a net income of $12.0 million, or $0.25 basic and diluted earnings per share, in 2010.

Total revenues during the second quarter climbed 32.8 percent to $1,774.9 million compared to $1,336.6 million for the same period in 2010.

Sales of marine petroleum products increased by 32.6 percent to $1,766.3 million compared to $1,331.8 million for the year-earlier period.

The volume of marine fuel sold between April and June declined by 7.0 percent to 2,635,881 metric tonnes compared to 2,825,046 metric tonnes in the year-earlier period.

Greece  United States 
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.
Fujian province map with highlighted locations. Gulf Marine expands bonded lubricant supply network in China’s Fujian province  

Company adds supply points in Putian, Ningde and Fuqing, covering 20 terminals across the region.
Excelerate Acadia naming ceremony. Bureau Veritas classifies Excelerate Energy’s new 170,000-cbm FSRU Excelerate Acadia  

Vessel built by HD Hyundai Heavy Industries features dual-fuel engines and proprietary regasification system.
Osprey Energy logo. Osprey Energy seeks junior bunker trader to support Cebu trading activities from Netherlands  

Dutch marine fuel supplier targets Cebu region expansion through new training programme for Filipino candidates.
EUA prices dropping graphic. KPI OceanConnect highlights falling EUA prices as opportunity for shipowners to lock in compliance costs  

Marine fuel firm says timing carbon allowance purchases can reduce costs as EU emissions scope expands.
RINA employee in control room. RINA partners with Hanwha Group on battery-hybrid propulsion for ro-ro ferries  

Classification society to provide regulatory compliance verification for hybrid battery systems on newbuilds and retrofits.
Amadeus Titanium vessel. HGK Shipping’s Amadeus Titanium fitted with wind assistance system  

Coastal vessel equipped with VentoFoils at Dutch port to reduce fuel consumption on Covestro routes.
Sebastian Weder, Bunker One. Bunker One expands physical supply operations to Tallinn and Finland  

Marine fuel supplier extends Baltic Sea coverage with new operational presence in Estonia and Finland.




   Fuels & Propulsion

Ammonia B100 B24 B30 Bio-LNG/LBM Biofuel Biogas Biomethanol Dual-fuel E-fuel E-methane/e-NG Electric Ethanol FAME Green hydrogen Green/e-ammonia HVO Hydrogen LNG LPG Lubes Methanol MGO Nuclear UCOME ULSFO VLSFO Wind power



 Recommended