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 June 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Danish Bunker Trader Joins GAC in London

GAC Bunker Fuels says it has appointed former GAC Denmark Shipping Assistant Ida Ryberg as a Bunker Trader with its UK team. Ryberg joins Andy Boichat and Resham

Costa Tow Update: Climate Onboard 'Calm'

According to the latest update, after approximately 30 hours of navigation, the Concordia has travelled 63 nautical miles at an average speed of 2 knots, informs

Star Bulk Takes Delivery of First Capesize from JMU

Athens, Greece-headquartered Star Bulk Carriers says it has taken delivery of 'M/V Peloreus' a 182,000 dwt Capesize built by Japan Marine United (“JMU”) and the

Tanker Trends

Ardmore Shipping Secures Newbuilding Finance

Ardmore Shipping Corporation says it has signed agreements to upsize its existing senior loan facility with ABN AMRO Bank N.V., Nordea Bank Finland Plc, and Skandinaviska Enskilda Banken AB ("SEB").

Worrying Trend of Tanker Hijacks in SE Asian Waters: IMB

The Piracy Reporting Centre (PRC) of the International Chamber of Commerce (ICC) International Maritime Bureau (IMB) raises concerns over a worrying trend of

Iraqi Kurdish Oil Nears US Port Despite Concern in Washington

A tanker carrying crude oil from Iraqi Kurdistan is just two days away from arriving at a U.S. port, according to ship tracking satellites, despite Washington's

Finance

Star Bulk Takes Delivery of First Capesize from JMU

Athens, Greece-headquartered Star Bulk Carriers says it has taken delivery of 'M/V Peloreus' a 182,000 dwt Capesize built by Japan Marine United (“JMU”) and the

Ardmore Shipping Secures Newbuilding Finance

Ardmore Shipping Corporation says it has signed agreements to upsize its existing senior loan facility with ABN AMRO Bank N.V., Nordea Bank Finland Plc, and Skandinaviska Enskilda Banken AB ("SEB").

UK Chancellor Mentions Hi-Tech Tax Breaks on Bibby Offshore Visit

Bibby Offshore, subsea services provider to the oil & gas industry, says it has hosted a visit by George Osborne, Chancellor of the Exchequer, to the Company’s workshop,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Naval Architecture Navigation Offshore Oil Pipelines Port Authority Ship Electronics 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: 0.1068 sec (9 req/sec)