Sign up
Log in Sign up
This is a legacy page. Please click here to view the latest version.
Mon 18 Dec 2017, 15:51 GMT

World Fuel Services tops Aegean's list of approved debtors


Glencore subsidiaries second on the list with approved limit of $35 million.

Aegean Marine Petroleum has included a list of its approved debtors in its latest filing to the U.S. Securities and Exchange Commission (SEC), submitted on Friday.

In the 401-page document - which outlines the company's recently signed $750 million credit facility, with an accordion option for an additional $250 million - Aegean lists six key organizations as approved debtors, with the top two being bunker sales and brokering specialists.

The companies are: Glencore Group's Chemoil and Oceanconnect, Hapag-Lloyd AG, Mitsui, Qatargas, Wallenius Wilhelmsen Logistics AS / Eukor Car Carriers Inc and World Fuel Services.

According to the document, Aegean has specific credit limits in place with the aforementioned businesses (before application of an advance rate), plus an increment of $10 million, subject to credit insurance, security and other arrangements.

In the case of World Fuel Services, the US-headquartered bunker seller has the largest credit limit of $40 million, plus an increment of $30 million. The approved subsidiaries are: World Fuel Services Europe Ltd; World Fuel Services Trading, DMCC; World Fuel Services (Singapore) Pte Ltd; and World Fuel Services Americas, Inc.

Glencore's affiliates, meanwhile, have a $35 million credit limit as approved debtor. The seven firms listed are: Chemoil International Pte Ltd, Chemoil Middle East DMCC, Chemoil Latin America Inc, Chemoil Corporation, Oceanconnect Marine Pte Ltd, Oceanconnect Marine Inc, and Oceanconnect Marine UK Ltd.

Shipowners Hapag Lloyd, Wallenius Wilhelmsen Logistics AS / Eukor Car Carriers Inc, and Qatargas Group's subsidiaries Qatargas Operating Company Ltd and Qatar Gas Transport Company Ltd each have an approved limit of $30 million.

Finally, Mitsui Group's Mitsui & Co Petroleum Ltd and Mitsui OSK Lines Ltd have a total limit of $25 million.

Graphic promoting Auramarine webinar titled 'Sustainable Fueling Part 3: Ammonia - next alternative fuel in marine'. Auramarine to host webinar on ammonia as marine fuel in April  

Finnish firm will explore ammonia’s role in maritime decarbonisation at its third spring webinar.
Front cover of study by WinGD and Envision Energy titled 'Renewable Fuel Economics: An OPEX illustration based on current costs'. Green ammonia could reach cost parity with VLSFO and LNG by 2050, study finds  

WinGD and Envision Energy study projects green ammonia operational costs competitive with conventional marine fuels.
Elenger Marine's LNG bunkering vessel Optimus alongside Brittany Ferries’ Saint-Malo. Bureau Veritas verifies methane emissions on Brittany Ferries’ LNG vessels  

Verification enables ferry operator to report measured methane slip instead of regulatory default values.
Map showing existing and planned Emission Control Areas (ECAs). Alliance calls for urgent black carbon action as new Arctic emission control areas take effect  

Canadian Arctic and Norwegian Sea ECAs now in force, with compliance deadline set for March 2027.
Artistic impression of battery-electric ferry for operation on Perth’s Swan River. Lloyd’s Register to class Western Australia’s first electric ferry fleet  

Echo Marine Group partners with Lloyd’s Register on five battery-electric ferries for Perth’s Swan River.
Thomas Kazakos, secretary general of The International Chamber of Shipping (ICS). ICS condemns Middle East shipping attacks as 20,000 seafarers remain trapped  

Industry body calls for urgent state action to resupply vessels and enable crew changes.
Molslinjen ferry illustration. Molslinjen order propels Australia to top of battery vessel production rankings  

Danish ferry operator’s three-catamaran order at Incat Tasmania shifts global manufacturing landscape, analysis shows.
Petrobras logo. Petrobras doubles invoiced price of MGO and LSMGO  

Export tax by Brazil's federal government forces Petrobras to double distillate invoice values.
Bunkering of Viking Line's Viking Glory by a Gasum vessel in Turku, Finland. Gasum renews FuelEU Maritime pooling partnerships with Viking Line and Wallenius SOL  

Nordic energy company extends compliance pooling arrangements with two shipping companies operating bio-LNG vessels.
Naming ceremony for CMA CGM Carmen on 18 March 2026. CMA CGM names methanol-powered container ship CMA CGM Carmen  

French shipping line christens 15,000-teu vessel as part of its alternative fuel fleet expansion.

↑  Back to Top


 Recommended