E Nikolas Tavlarios News

Aegean Marine Petroleum Network Inc. has announced the launch of a new service center in Rostock, Germany that will serve all German Baltic Sea ports and Southern Scandinavian ports. The operations at Rostock will be managed by the existing team at OBAST Bunkering & Trading GmbH (OBAST), a physical bunker supplier and cargo oil trader. Under the terms of the agreement with OBAST, Aegean will acquire OBAST's existing share capital. E. Nikolas Tavlarios, President of Aegean Marine Petroleum Network, said, "We are pleased to announce the launch of our new service center in Rostock, which strengthens our existing presence in Germany and will enhance the flexibility and reach of our global marine fuel platform enabling us to better serve our customers around the world.

Greece-based Aegean Marine Petroleum Network Inc. (ANW) reported first-quarter earnings of $12.2 million or $0.25 per share compared with $5.1 million or $0.11 per share last year. The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 24 cents per share. Analysts polled by Thomson Reuters estimated earnings of $0.24 per share on revenues of $1.37 billion for the quarter. Analysts' estimates typically exclude special items. The marine-fuel logistics company posted revenue of $1.02 billion in the period compared with $1.69 billion in the prior year. Aegean Marine shares have fallen almost 1 percent since the beginning of the year.

Aegean Marine to commence operations in the Gulf of Mexico; assumes charter agreements for two vessels. Aegean Marine Petroleum Network Inc. will commence immediate marine fuel supply operations in the Gulf of Mexico. In support of its operations, the company has also assumed the contracts for two oceangoing bunkering tankers previously under charter to OW Bunker and expects to purchase the fuel on board. E. Nikolas Tavlarios, President of Aegean Marine Petroleum Network, commented…

Access to Busiest U.S. Container Port Significantly Enhances Aegean's Global Marine Fuel Capabilities. Aegean Marine Petroleum Network Inc. (NYSE: ANW) has announced that it has agreed to acquire 28,567 metric tons 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. The ports of Los Angeles and Long Beach combined form the largest container port in the United States with annual volumes of 14.6 million TEU's in 2013 and serve as the key trade hubs between North America and Asia. E. Nikolas Tavlarios, President of Aegean Marine Petroleum Network…

Aegean Marine Petroleum Network Inc. Sales volumes of 2,659,620 metric tons. Gross profit of $84.5 million. Operating income of $19.3 million. Net income attributable to Aegean shareholders of $9.3 million or $0.20 basic and diluted earnings per share. EBITDA of $26.7 million. E. Nikolas Tavlarios, President of Aegean Marine Petroleum Network, commented, "Our strong second quarter results extend our recent track record of profitability and growth and demonstrate that we are successfully executing our strategy despite prevailing industry headwinds. Mr. Tavlarios continued, "During 2014, we have successfully integrated our newly acquired East Coast business…

Greece's Aegean Marine Petroleum Network Inc. has announced its financial and operating results for the first quarter ended March 31st, 2014. Sales volumes of 2,705,823 metric tons. Gross profit of $82.9 million. Operating income of $15.2 million. Net income attributable to Aegean shareholders of $5.1 million or $0.11 basic and diluted earnings per share. Net income attributable to Aegean shareholders adjusted for the sale of non-core assets and vessel impairment charge was $8.7 million or $0.18 basic and diluted earnings per share. EBITDA of $23.5 million. EBITDA adjusted for the sale of non-core assets and vessel impairment charge was $27.0 million. Completed the sale of two older, non-core vessels.

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. East Coast Bunkering business of Hess Corporation. "This $150 million working capital facility will support our expansion into the U.S. as we continue to execute on our strategy to grow revenues, strategically leverage our fixed infrastructure and drive profitability," said E. Nikolas Tavlarios, President of Aegean Marine.

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, is valued at $30 million plus the value of the purchased inventory and also includes approximately 250,000 cubic meters of leased tank storage. This acquisition marks Aegean's entry into supplying customers in the U.S.

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. The Hess bunkering operation and associated assets supply the heavily trafficked ports of New York, Philadelphia, Baltimore, Norfolk and Charleston, and include approximately 250,000 cubic meters of leased tank storage. Over the last three years, these bunkering operations averaged 1.8 million metric tons in annual sales.

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 continued ability to expand our global market share while achieving profitable revenue growth," said E. Nikolas Tavlarios, President of Aegean. "We believe our liquidity and strong balance sheet are key differentiators that create significant competitive advantages. Spyros Gianniotis Aegean's Chief Financial Officer added, "We are pleased that eight of the 13 banks participating in the facilities are new to our bank group.

Greece headquartered Aegean Marine Petroleum Network Inc. announce financial and operating results for the second quarter ended June 30, 2013. 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. Net income attributable to Aegean shareholders adjusted for the sale of non-core assets was $6.1 million or $0.13 basic and diluted earnings per share. EBITDA of $19.7 million. EBITDA adjusted for the sale of non-core assets was $20.2 million.

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, Aegean will supply and deliver marine lubricant products to customers of SK Lubricants in the Aegean lubricants network, which currently covers 45 countries and 550 ports worldwide, and SK Lubricants will provide Aegean's customers in South Korea with marine lubricant products. E. Nikolas Tavlarios, President, commented, "Our agreement with SK Lubricants will allow Aegean to expand sales volumes for our marine lubricants and further extend our presence in the Asian market.

Greek-based Aegean Marine Petroleum Network Inchas to offer oil fuel bunker supply service in Hong Kong. New York-listed interntaional bunker supplier Aegean Marine Petroleum Network Inchas announce plans to expand its global network for the physical supply of marine fuel by establishing operations in Hong Kong. Aegean says that it expects to initially deploy one double-hull bunkering tanker to its new service centre in Hong Kong, from Singapore, by 30 September, noting that Hong Kong generates about 5-million tonnes in annual marine fuel sales. The company’s president, Nikolas Tavlarios, said, "We are pleased to once again expand our global network for the physical supply of marine fuel by strengthening our strategic presence in the Far East.

Aegean Marine Petroleum Network Inc. plans expansion in Barcelona, contracts with Meroil for onshore fuel oil storage. Aegean Marine Petroleum Network has signed an agreement to secure onshore fuel oil storage capacity in Port of Barcelona and plans to start supply operations by the end of Q1 2013. The port of Barcelona serves as a key transportation hub located along major seaborne trade routes, totalling approximately 10,000 transits per year and generating approximately 1.2 million metric tons of annual marine fuel sales volumes. The port, which also benefits from extensive cruise passenger travel, is currently undergoing a modernization and expansion plan headed by the Barcelona Port Authority that is expected to substantially increase the port's capacity upon completion in 2014.

Aegean Marine Petroleum Network Inc announce that it has taken delivery of the Symi, a 6,270 dwt double-hull bunkering tanker newbuild from Qingdao Hyundai Shipyard in China. The Symi, which is expected to be deployed to the Company's market in West Africa, represents the final vessel under Aegean's plan to take delivery of 31 double-hull bunkering tanker newbuildings. E. Nikolas Tavlarios, President, commented, "We are pleased to take delivery of the Symi and complete our fully funded newbuild program, a major milestone for our Company.

PIRAEUS, Greece, April 18, 2011 /PRNewswire/ -- Aegean Marine Petroleum Network Inc. (NYSE: ANW) today announced it has been awarded a 20-year concession by the Panamanian Maritime Authority (PMA) to operate onshore storage facilities in the ports of Cristobal and Balboa in Panama on an exclusive basis. The award is subject to the fulfillment of certain conditions by the Company and completion of definitive documentation with the appropriate Panamanian authorities. In addition…

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, we have ensured our ability to meet the needs of our customers in the largest bunkering market in the world after having chartered some of our vessels to top counterparties. As we continue to expand our high-quality logistics infrastructure and meet the demand for modern tonnage…

Aegean Marine Petroleum Network Inc. (NYSE: ANW) announced that it expects to report a net loss between $12.0 million and $13.0 million, or between $0.26 and $0.28 basic and diluted loss per share, for the fourth quarter of 2010. On an adjusted basis, which excludes $1.8 million in unrealized foreign exchange losses, the Company expects to report a net loss between $10.2 million and $11.2 million, or between $0.22 and $0.24 basic and diluted loss per share, for the fourth quarter of 2010. For the three months ended December 31, 2010, the volume of marine fuel sold is expected to total approximately 2.9 million metric tons and the gross spread of marine fuel sold is expected to range between $15.5 and $16.0 per metric ton.

Aegean Marine Petroleum Network Inc. ANW announced financial and operating results for the first quarter ended March 31, 2009. •    Increased sales volumes by 23.6% to 1,310,037 metric tons in Q1 2009, compared to 1,060,134 metric tons for Q1 2008. •    Expanded net revenues to $40.0 million. •    Recorded operating income of $8.3 million. •    Reported net income of $4.4 million, or $0.10 basic and diluted earnings per share. o    Expanded Greek operations to the market of Patras. o    Acquired or took delivery of five double-hull bunkering tankers, including two newbuildings. •    Secured a new senior secured revolving credit facility for a period of two years. •    Entered into strategic alliance with Gulf Oil for the marketing and distribution of marine lubricants.

Aegean Marine Petroleum Network Inc. (NYSE:ANW) announced financial and operating results for the second quarter ended June 30, 2009. The company recorded net income of $16.3m, or $0.38 basic and diluted earnings per share, for the three months ended June 30, 2009. Net income, adjusted for a $4.2m gain from sale of vessels, was $12.1 million, or $0.29 basic and $0.28 diluted earnings per share. For purposes of comparison, the Company reported net income of $9.9 million, or $0.23 basic and diluted earnings per share, for the three months ended June 30, 2008. The weighted average basic and diluted shares outstanding for the three months ended June 30, 2009 were 42,576,830 and 42,728,588, respectively.

Aegean Marine Petroleum Network Inc. (NYSE:ANW) announced that it has taken delivery of the Kerkyra, a 6,290 dwt double-hull bunkering tanker newbuild from Qingdao Hyundai Shipyard in China. The vessel is expected to be deployed to the company's market located in Gibraltar. E. Nikolas Tavlarios, President, commented, "Including the Kerkyra, Aegean has taken delivery of seven double-hull bunkering vessels to date in 2009. As we continue to execute our well-capitalized growth plan, we expect to enhance our ability to meet the strong demand for modern tonnage and strengthen Aegean's leading brand for the global supply of marine fuel. We intend to deploy the Kerkyra to Gibraltar in order to further develop future sales volumes in this broad and attractive region."

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, which has an operating history of more than 100 years initially in shipping and subsequently in bunkering. As a physical supplier, Verbeke Bunkering covers the entire ARA region, including key ports surrounding Antwerp, Rotterdam and Amsterdam such as Ghent, Zeebruges, Flushing, Terneuzen, and Sluiskil.

Aegean Marine Petroleum Network Inc. (NYSE:ANW) announced that it has taken delivery of the Zakynthos, a 6,272 dwt double-hull bunkering tanker newbuild from Qingdao Hyundai Shipyard in China. The vessel is expected to be deployed to the company's market located in Gibraltar. E. Nikolas Tavlarios, President, commented, "We are pleased to continue to execute our growth strategy with the delivery of the Zakynthos. By once again expanding our high-quality logistics infrastructure, we have further enhanced our ability to meet the strong demand for modern tonnage and strengthened our leading industry brand.