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MARINE PETROLEUM

Horizon Tangiers Terminal Selects Aegean

Horizon Tangiers Terminal S.A. (HTTSA), has selected Aegean Marine Petroleum (Aegean) (NYSE:ANW) as its sole bunkering company for its terminal in the port of Tangiers. The agreement, which is subject to final documentation, is scheduled to become effective in January 2009. HTTSA's appointment of Aegean as its exclusive bunkering company in this critical region is an important part of its effort to expand the terminal. Aegean Marine Petroleum will provide retail bunkering services to ships in port and at sea on an exclusive basis for a period of 25 to 35 years. Aegean will also have the right to expand its operation as the sole bunker tenant beyond the port perimeter, which is strategically located along the Strait of Gibraltar connecting the Atlantic Ocean to the Mediterranean Sea. Yusr H. Sultan, Member of the Board HTTSA, said, "After conducting an extensive review over the past six months, we are pleased to have selected Aegean Marine Petroleum as the sole bunkering company within the port of Tangiers. The port currently serves approximately 7,000 vessels on an annual basis and is expected to increase to more than 10,000 vessels annually upon completion of our terminal's planned expansion in 2010. In carefully selecting a bunkering company to meet our considerable growth, we focused on Aegean's industry expertise, modern bunkering fleet, extensive capacity, strong safety track record and financial strength


Aegean Acquires Double-Hull Tanker

Aegean Marine Petroleum Network Inc. (NYSE:ANW) announced on Jan. 15 that it has taken delivery of the Hana, a 1992-built 1,615 dwt double-hull bunkering tanker to be renamed the Ace Hana, following the company's agreement to purchase the vessel from an unrelated third party. The Ace Hana is expected to be deployed to the company's Greek market. E. Nikolas Tavlarios, President, commented, "With the strategic acquisition of the Ace Hana


Aegean Marine Acquires Bunkers at Sea

According to an AP report, Aegean Marine Petroleum Network Inc., a Greek supplier of fuel and lubricants to ships, said it has acquired Bunkers at Sea, a Belgium-based supplier of marine fuel to vessels in port and at sea. Financial terms were not disclosed. Bunkers at Sea serves about 45 ports located throughout Northern Europe. In 2006, the company recorded total marine fuel sales volumes of more than 325,000 metric tons.


Aegean Acquires Bunkering Double-HullTanker

Aegean Marine Petroleum Network Inc. (NYSE:ANW) announced it has taken delivery of the Linnea, a 1980-built 11,520 dwt double-hull bunkering tanker to be renamed the Aegean Star, following the company's agreement to purchase the vessel from an unrelated third party. The Aegean Star is expected to be deployed to the company's West African market by the end of the second quarter of 2009. E. Nikolas Tavlarios, President, commented, "With the strategic acquisition of the Aegean Star


Aegean Marine Gets New Bunkering Tanker

Aegean Marine Petroleum Network Inc. (NYSE:  ANW) announced that it has taken delivery of the Tilos, a 5,500 dwt double-hull bunkering tanker newbuild from Qingdao Hyundai Shipyard in China. The vessel is being deployed to Singapore to support the company's existing bunkering operations in this market.     E. Nikolas Tavlarios, President, commented, "We are pleased to take delivery of the Tilos. In deploying this new double-hull vessel to Singapore


Bunker Suppliers, Aegean Marine, Show Healthy Q2 2013 Results

Greece headquartered Aegean Marine Petroleum Network Inc. announce financial and operating results for the second quarter ended June 30, 2013. Second Quarter Highlights Sales volumes of 2,693,151 metric tons. Gross profit of $69.5 million. Operating income of $12.7 million. Operating income adjusted for the sale of non-core assets was $13.2 million. Net income attributable to Aegean shareholders of $5.5 million or $0.12 basic and diluted earnings per share.


Washington State Honors Tug-and-Barge Company

Island Tug and Barge Ltd. of Vancouver, B.C., received an award from the Washington Department of Ecology for excellence in marine safety and environmental stewardship. The Exceptional Compliance Program (Ecopro) Award will be presented to Island Tug and Barge at 10:30 a.m. at the Odyssey Maritime Discovery Center on Pier 66, 2205 Alaska Way, in Seattle. The award ceremony will be followed by a short reception, during which reporters may interview Ecology officials and company


Aegean Expansion Plans in Morocco

Aegean Marine Petroleum Network Inc. (NYSE:ANW) announced that Horizon Tangiers Terminal S.A. (HTTSA), a special purpose consortium, has named Aegean as the exclusive bunkering company for the new port in Tangiers, Morocco. The agreement is scheduled to become effective in January 2009 upon completion of final documentation. The appointment of Aegean by HTTSA is a part of the consortium's effort to expand the modern port in this growing region


Aegean to Acquire Verbeke Bunkering N.V.

Aegean Marine Petroleum Network Inc. (NYSE:ANW) announced it has entered into an agreement to acquire Verbeke Bunkering N.V., a physical supplier of marine fuel in the Antwerp-Rotterdam-Amsterdam (ARA) region, the world's second largest bunkering market. The acquisition, which is subject to the completion of detailed documentation, is scheduled to close by the end of the first quarter of 2010. Verbeke Bunkering is majority owned by the fourth generation of the Verbeke family


The Trinidad & Tobago Maritime Sector

IMG_1287_Tug Boat STATIA SUNRISE assists in Bunkering of the SERANADE OF THE SEAS cruise ship web.jpg

Shipbuilding, repair endorsed by government to diversify economy The recent 2013-14 National Budget of Trinidad and Tobago firmly highlighted the government’s intention to endorse Shipbuilding and Repair as a means of diversifying our traditional oil and gas economy. Trinidad & Tobago is in the middle of the world’s shipping lanes with an approximate 31,000 voyages per year passing within 25 nautical miles


Aegean Profitable in 2013 Despite Bunker Market Challenges

Bunkering: File photo CCL

Ship bunker suppliers Aegean Marine Petroleum Network release financial and operating results for the fourth quarter ended December 31st, 2013, registering a third consecutive profitable year. Quarterly & full year highlights Recorded sales volumes of 2,384


Denmark's OW Bunker to announce IPO this week

Danish ship fuel supplier OW Bunker aims to publish plans for a stock market listing this week, three sources familiar with the matter told Reuters on Monday. "The plan is to be listed before Easter," one source said, adding that Morgan Stanley, Carnegie


Norway Confirms Small Arctic Oil Find

Norwegian oil explorer Det norske made a small oil discovery in the Arctic Barents Sea with a gross oil column of about 30 metres and much poorer reservoir quality than expected, the Norwegian Petroleum Directorate said on Monday. Det norske earlier said it found some oil in the prospect but


Danish shipping fuel supplier OW Bunker confirms IPO plan

Private equity co Altor plans to partly sell holding; OW Bunker FY net up almost 50 pct at $63.4 mln. Revenue up more than 20 pct at $16.99 billion. Danish ship fuel supplier OW Bunker plans an initial public offering (IPO) of shares in Copenhagen, it said on Wednesday


Ultrapetrol to Refinance, Sells 7 Barges

In related recent announcements Ultrapetrol (Bahamas) says it intends to offer secured Notes, & has completed the sale of 7 barges. Ultrapetrol (Bahamas) an industrial transportation company serving marine transportation needs in three markets (River Business, Offshore Supply


Scana Offshore Vestby FPSO Contract Price Upped

Scana Industrier ASA has through its subsidiary Scana Offshore Vestby, been awarded a Variation to the contract for delivery of  Mooring Winches to Dana Petroleum. The contract is for the delivery of  Mooring Winches to Dana Petroleum SO at the Western Isles Development Project in


Marine Lubricant Suppliers in Global Supply Link-up

Aegean Marine Petroleum Network and SK Lubricants sign an agreement that will allow Aegean to increase its sales volumes in the marine lubricants market and SK Lubricants to extend its global sales network. Under the global cooperation agreement between the companies


Caterpillar to Acquire Berg Propulsion

Tom Frake, Caterpillar Vice President of the Marine and Petroleum Power Division

Caterpillar Inc. signed a definitive agreement to acquire Johan Walter Berg AB, including its core brand of Berg Propulsion, a leading manufacturer of mechanically and electrically driven propulsion systems and marine controls for ships. With the acquisition


ValvTect Completes Fuel Tank Testing at 600+ Marinas

Fuel storage tanks at Certified ValvTect Marinas are tested for water, bacteria and other contamination up to twice a year.

Unfortunately, it is all too common for gasoline and diesel storage tanks at marinas to contain excess water and other contaminants such as bacteria and debris. These contaminants can be pumped into boaters’ fuel tanks and can cause an engine to shut down or cause permanent damage


Aegean Marine Petroleum Secure US$1-billion Credit Facility

Aegean Marine Petroleum Network Inc. state they will make use of this line of credit for working capital in connection with the purchase, transportation, storage and sale of fuel and gas oil. "These facilities significantly enhance our financial flexibility and will help support Aegean's


IBIA, SAMSA to Bring Offshore Bunkering to South Africa

The International Bunker Industry Association (IBIA) has announced that it will be working with the South African Maritime Safety Authority (SAMSA) to develop a Bunkering code of practice for the supply of fuel from offshore barges. Offshore bunkering is currently banned in South Africa


US East Coast Bunker Business Taken Over by Aegian Marine

Bunker barge: Image courtesy of Aegean Marine

Greek-based Aegean Marine Petroleum Network Inc. has entered into an agreement to acquire the U.S. East Coast bunkering business of Hess Corporation. Hess Corporation is currently the leading marketer of marine fuels along the U.S. East Coast


Aegean Secures Hess' US East Coast Bunkering Business

File picture

Aegean Marine Petroleum Network Inc. says it has completed the previously announced acquisition of the U.S. East Coast bunkering business of Hess Corporation. The transaction, which includes bunkering operations that averaged 1.8 million metric tons in annual sales over the past three years


Aegean Bunkering Secures Cash for US Expansion

Bunkering: File photo

Aegean Marine says it has secured a $150 million uncommitted working capital facility from ABN AMRO Capital USA to finance the working capital requirements of Aegean Bunkering (USA) LLC, which Aegean Marine recently formed to complete the acquisition of the former U.S


Donjon Shipbuilding Gets Tank Barge Order

Image courtesy of Donjon Shipbuilding

Erie, Pennsylvania shipyard, Donjon Shipbuilding & Repair, reported that Seabulk Tankers has placed an order with them for a petroleum and chemical barge. The wholly owned subsidiary of Donjon Marine Co. Inc. whose main office is in Hillside, N.J


 
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