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Spyros Gianniotis News

25 Sep 2013

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 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.

10 May 2012

Superyachts Head to London for the Olympic Games

The traditional ceremony to light the Olympic flame took place on May 10, 2012 at the ancient site of Olympia in Greece, signalling the final countdown to the start of the Games in London. In a break with tradition, London is getting set to welcome superyachts, never seen before in the UK capital, keen not to be left out of the action. The Olympic flame will begin its 78-day journey towards London this morning, making a 10,000 mile trip. It will be carried by 8,000 torchbearers, arriving in Stratford, East London, on July 27. The first torchbearer will be Spyros Gianniotis, the British-born Greek 10km swimming world champion. From July, Royal Docks 2012 are offering a limited number of exclusive superyacht berths to provide a totally unique Olympic experience.

04 Feb 2011

Aegean Marine Petroleum Preliminary Q4 Results

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.

15 Oct 2009

Grandunion Controls Aries Maritime Transport

Aries Maritime Transport Limited (NASDAQ:RAMS) announced that Grandunion Inc., a company controlled by Michail S. Zolotas and Nicholas G. Fistes, acquired 18,977,778 newly issued common shares in Aries in exchange for three capesize drybulk carriers. Of such shares, 2,666,667 were transferred to Rocket Marine Inc., a company controlled by two former directors and principal shareholders in Aries, in exchange for Rocket and its affiliates entering into a voting agreement with Grandunion. Under this voting agreement, Grandunion controls the voting rights relating to the shares owned by Rocket and its affiliates. Grandunion now owns approximately 34.2% of Aries and, as a result of the voting agreement controls the vote of approximately 71% of Aries' outstanding shares.

13 Aug 2009

Aegean Marine Q2 2009 Results, Sales up 21.6%

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.

19 May 2009

Aegean Announces Q1 2009 Results

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.

14 Nov 2008

Aegean 3Q, 9 Mo Results

Aegean Marine Petroleum Network Inc. (NYSE:ANW) announced financial and operating results for the third quarter and nine months ended September 30, 2008. •    Increased sales volumes to 1,338,914 metric tons in Q3 2008 and 3,631,486 metric tons for the nine months ended September 30, 2008. •    Generated gross spread on marine petroleum products of $44.4 million in Q3 2008 and $115.3 million for the nine months ended September 30, 2008. •    Recorded operating income of $15.1 million in Q3 2008 and $36.0 million for the nine months ended September 30, 2008. •    Reported adjusted net income, which excludes certain special items including $0.9 million relating to a tax accrual and $0.2 million relating to the automatic vesting of shares belonging to our deceased Director…