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.


Photograph of a blue cargo vessel. LNG-fuelled ships account for 79% of alternative fuel orders in 2025, SEA-LNG reports  

Industry coalition highlights decade of progress and over $150bn investment in methane-based marine fuels.

Vessels at sea. Maritime piracy incidents rise 18% in 2025, Singapore Straits accounts for majority  

ICC International Maritime Bureau reports 137 incidents globally, with violence against crew continuing.

Falstria Swan vessel. Biodiesel cuts black carbon emissions by up to 81% in shipping trial  

Project CLEANSHIP submits real-world sailing data to IMO showing biodiesel's climate benefits for shipping.

Bow Leopard vessel. Petrobras signs renewable bunker fuel deal with Odfjell for Brazil-Norway green corridor  

Brazilian state oil company to supply up to 12,000 tonnes of B24 blend in 2026.

Singapore waterfront skyline. Singapore ammonia ship-to-ship bunkering deemed feasible with safety measures, says GCMD  

New report identifies operational risks and safety zones for ammonia transfers in Singapore's port waters.

LNG carrier render. Jiangnan Shipyard secures orders for 16 vessels across three deals in January  

Chinese yard signs contracts for ammonia carriers, LNG carriers, and container ships with EPS and Cosco.

Paras Rastogi, Flex Commodities. Flex Commodities hires Paras Rastogi as marine fuels trader  

Dubai-based trader adds bunker specialist with experience in trading, operations, and international markets.

Methanol dual-fuel webinar graphic. Maritime Technologies Forum to host webinar on methanol dual-fuel ship inspection guidelines  

MTF webinar on 5 February will present recommendations from recently published safety inspection report.

Steel cutting ceremony of a 298,000-dwt LNG dual-fuel crude oil tanker with builder's hull no. 0330006. Steel cutting begins on 298,000-dwt LNG dual-fuel VLCC  

Chinese yard commences construction on sixth vessel in series for Andes Tankers II with DNV class oversight.

Rapide 3000-Z2 pushboat design render. Robert Allan completes pushboat design for Hermasa with biodiesel capability  

RApide 3000-Z2 vessels designed for Amazon grain transport with B100 biodiesel fuel option.


↑  Back to Top