Aegean Marine Petroleum Secure US$1-billion Credit Facility

MarineLink.com
Wednesday, September 25, 2013

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. We are pleased to have achieved this important milestone."

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.  We appreciate the ongoing support from our lenders and their confidence in our ability to continue to execute our strategy."

The facilities were arranged by the Active Bookrunning Mandated Lead Arrangers, ABN AMRO and BNP Paribas. ABN AMRO also acted as Coordinator and Agent.

Maritime Reporter March 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

COSCO China's Piraeus Bid Back on Track

China Ocean Shipping (Group) Co will bid for a majority stake in Greece's port of Piraeus after the country's new socialist government apparently reversed course

CMA CGM profits up 43%

French container line operator CMA CGM has announced that its 2014 net consolidated profits rose by 43% over the previous year to USD584 million thanks to a growth

US Navy: Future USS John Finn (DDG 113) Launched

The future USS John Finn (DDG 113) was launched at the Huntington Ingalls Industries (HII) shipyard March 28.  During launch the drydock was flooded allowing the

Tanker Trends

Maersk to Install Transas ECDIS on 100 Vessels

Maersk Line, the world's largest container company, has selected Transas Marine for ECDIS implementation on more than 100 vessels, Transas announced today. The

Rotterdam Gate LNG Terminal Expansion Started

Dutch gas network operator Gasunie and tank storage service provider Vopak said on Monday that the expansion of their Gate liquefied natural gas (LNG) terminal in Rotterdam has begun.

ECDIS to be Installed on 100 plus Maersk Vessels

Maersk Line selected Transas Marine for  ECDIS implementation on  more than 100 vessels.   The contract features Transas state-of-the-art Navi-Sailor ECDIS 4000

Finance

COSCO China's Piraeus Bid Back on Track

China Ocean Shipping (Group) Co will bid for a majority stake in Greece's port of Piraeus after the country's new socialist government apparently reversed course

CMA CGM profits up 43%

French container line operator CMA CGM has announced that its 2014 net consolidated profits rose by 43% over the previous year to USD584 million thanks to a growth

Ship Ownership is a Closely Held Market

Even though shipping is a global industry, ownership is fairly well concentrated in a relatively small number of major centres, says a research from Clarksons.

 
 
Maritime Contracts Naval Architecture Navigation Offshore Oil Pipelines Port Authority Salvage Ship Simulators Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1178 sec (8 req/sec)