BUNKER INDEX :: Price Index, News and Directory Information for the Marine Fuel Industry



« News Home
:: Monthly Archive

News Topics
:: Air Pollution
:: Agreements & M&A's
:: Alternative Fuels
:: BunkerBlog
:: Cargoes & Storage
:: Company News
:: Efficiency, Costs & Charges
:: Environment
:: Events
:: Financial
:: Fuel Quality & Testing
:: Lubes & Additives
:: Oil Spills
:: People
:: Port News
:: Projects
:: Regulation, Legal
:: Services, Products,Technology
:: Statistics & Research
:: Vessels

Regional Archive
:: Americas
:: Asia/Oceania
:: Europe
:: M.East/Africa


BUNKER INDEX :: Price Index, News and Directory Information for the Marine Fuel Industry
Home » News



Aegean confirms plans to start LA supply operation in Q1 2015

Bunker firm says it bought 28,567 tonnes of fuel and tied up storage contract for $11 millon at OW Bunker auction.



Image credit:


Updated on 10 Dec 2014 00:19 GMT

Aegean Marine Petroleum Network Inc. has confirmed that it plans to commence bunker supply operations at the port of Los Angeles during the first quarter of 2015.

In a statement, the bunker firm said that it had agreed to acquire 28,567 metric tonnes of marine fuel and assume a storage contract with Vopak Terminal Los Angeles for a total purchase price of approximately $11 million at an auction of OW Bunker's assets.

E. Nikolas Tavlarios, president of Aegean Marine Petroleum Network, commented, "This transaction is aligned with Aegean's strategy to opportunistically enter new markets to service unmet and increasing demand, while enhancing shareholder value. We have focused on building a strong and flexible financial position over the years and as a result were able to act quickly on this unique opportunity to further strengthen and diversify our operating footprint.

"Having a presence at the Vopak Terminal in Los Angeles will substantially broaden Aegean's access to the marine fuel markets of the U.S. west coast, and in so doing round out Aegean's profile as a global marine fuel provider. Heading into 2015, which we believe will be a landmark year for Aegean, we intend to continue executing our risk-averse strategy; strengthening our brand, widening our customer base and increasing the scale and efficiency of our logistics network."

The company said that it expects to integrate much of the former OW Bunker operating infrastructure in Los Angeles into the Aegean organization and begin operations at the Vopak Terminal during the first three months of 2015.






Related Links:

Aegean snaps up OW fuel, LA storage - supply operation imminent?
Aegean CEO to present at New York event
Aegean's CEO: Risk-averse owners will 'move away from resellers and towards physical suppliers'
Aegean posts Q3 loss. CEO says '2015 may be a landmark year'
Aegean announces new $20 million share repurchase program
Aegean Marine Petroleum S.A.
O.W. Bunker & Trading A/S
Los Angeles
Long Beach

Latest News:

Silverstream hails air lubrication uptake ahead of 2020
Oil and fuel oil hedging market update
OPEC, non-OPEC oil producers agree to cut 1.2m bbl/d
Aegean secures final approval for initial set of motions
MoU signed to test fuel gas and bunkering systems in Busan
Oil and fuel oil hedging market update
Volatility as OPEC meeting comments emerge; draw in US oil stocks
Quadrise announces open offer to avert Jan winding down process
Aegean rejects Mercuria objections ahead of court hearing
Aegean files motion to protect confidential information
Verifavia inks cooperations with eight ROs for IMO DCS verification
Oil and fuel oil hedging market update




Page Links:

Prices
Africa
Asia
Latin America
Middle East
North America
North Europe
South Europe
Index Summary
Price Highlights
Commentaries
Futures
Prices
Antwerp
Busan
Fujairah
Houston
Istanbul
Kaohsiung
Las Palmas
Maracaibo
New Orleans
Piraeus
Rio de Janeiro
Rotterdam
Santos
Singapore
News
Latest News
Blogs
Archive
Americas
Asia
Europe
Middle East
News
Air Pollution
Agreements & M&A's
Alternative Fuels
Cargoes & Storage
Efficiency, Costs & Charges
Environment
Events
Financial
Fuel Quality
Lubes & Additives
Oil Spills
People
Port News
Projects
Regulation/Legal
Services, Products, Technology
Statistics & Research
Vessels
Contact & Terms
Contact Us
Advertise
Terms & Conditions
Privacy Policy
Events
Upcoming Events