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.


Peter Keller, SEA-LNG. UK P&I Club joins SEA-LNG coalition to support LNG marine fuel adoption  

Insurer brings 50 years of LNG experience to methane pathway coalition focused on maritime decarbonisation.

FCM LNG fuel supply system render. Alfa Laval launches LNG fuel supply system with cryogenic technology  

Swedish firm unveils FCM LNG system for LNG-powered vessels, with marine deliveries planned for 2027.

Union Maritime's chemical tankers with Anemoi Rotor Sails. Union Maritime orders Anemoi rotor sails for two chemical tanker newbuilds  

Wind propulsion technology to help shipowner exceed IMO 2030 greenhouse gas reduction targets.

Iona vessel. Lloyd's Register completes Europe's first major LNG cruise ship dry docks with Carnival  

Iona and Mardi Gras projects required 18 months of planning and in-service passenger inspections.

Anglo-Eastern's ammonia pilot training course. Anglo-Eastern completes pilot training course for ammonia-fuelled vessels  

Ship manager prepares crew ahead of first ammonia-fuelled vessel takeover with inaugural training programme.

Burando Atlantic Group 2025 sustainability report cover. Burando Atlantic publishes first sustainability report, secures ISCC EU recertification  

Maritime group releases inaugural sustainability report while Burando Energies extends biofuel traceability certification.

Conceptual illustration of high-power marine fuel cell unit. ABB and HDF Energy to develop high-power fuel cells for large ships  

Joint development targets megawatt-scale hydrogen fuel cell units for container feeders and liquefied hydrogen carriers.

Chart showing Singapore TTM bunker sales, Aug '22 - Nov '25. Singapore bunker sales break new ground as TTM volumes surpass 56m tonnes  

Trailing 12-month bunker sales rise to new all-time record at Asian port.

Bow Leopard vessel. Odfjell launches operational green corridor between Brazil and Europe using biofuel  

Chemical tanker operator establishes route using B24 sustainable biofuel without subsidies or government support.

United LNG I vessel. Somtrans christens 8,000-cbm LNG bunker barge for Belgian and Dutch ports  

United LNG I designed for inland waterways and coastal operations up to Zeebrugge.


↑  Back to Top