Bunker Suppliers, Aegean Marine, Show Healthy Q2 2013 Results

MarineLink.com
Tuesday, August 20, 2013

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.
  • 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. [1]
  • EBITDA adjusted for the sale of non-core assets was $20.2 million.

E. Nikolas Tavlarios, President, commented, "We extended our track record of operational excellence and strong financial performance in the second quarter, which represented Aegean's tenth consecutive quarter of profitability.  During the quarter we entered new markets to strengthen our revenue base, strategically positioning Aegean for continued success as the market emerges from the current shipping cycle."

Mr. Tavlarios continued, "We are taking the right steps to sustain growth and position Aegean for opportunities as they emerge. Our expansion into the Port of Algeciras will increase our presence in the rapidly growing Western Mediterranean market, further diversify our revenue base and improve our fleet utilization. During the quarter we also announced a cooperation agreement with SK Lubricants, which will expand our operations in Asia and increase volumes in our marine lubricants business. As we move into the second half of the fiscal year, we will continue to execute our strategy of strengthening our industry leadership and enhancing shareholder value."
 


People & Company News

MN100: Conrad Shipyard

The Company: Conrad Shipyard was established in 1948 and is headquartered in Morgan City, Louisiana. The company designs, builds and overhauls tugboats, ferries,

Why Maritime Museums Matter

With today’s focus on digital technology, mobile apps, enhanced reality and the overall digital landscape, the maritime industry often gets overshadowed, leaving some to ask,

Hellenic Petroleum Profits Rise on Higher Exports

Hellenic Petroleum, Greece's biggest oil refiner, posted a 20 percent rise in second-quarter core profit on Thursday, with higher exports offseting lower refining margins.

Finance

Cochin Port Gets a Little 'Breathing Space'

The Cabinet Committee on Economic Affairs of India, chaired by the Prime Minister Narendra Modi, has given its approval for waiver of penal interest on Government

Asia’s Biggest Container Shipper Posts Loss

Asia’s largest container shipping company China Cosco Holdings Co  posted a net loss of Yuan7.2bn ($1.1bn) for the first six months of 2016, reversing the Yuan2bn

Hoegh LNG Profits Dip

Norway-based owner and operator of floating LNG import terminals, Höegh LNG  reported a second quarter profit after tax of US$3.5 million, down from $6.3 million in the first quarter 2016.

Fuels & Lubes

Viking Grace Marks 1,000 LNG Bunkering Milestone

From the very beginning, the M/S Viking Grace – delivered in January 2013 – was an environmental milestone.   The vessel attracted global attention as an environmental

SMM 2016: World Premieres from around the Globe

Some 50,000 trade visitors from the whole of the world are expected in Hamburg for the start of SMM in less than two weeks. And once again, it is fully booked – with a total of more than 2,

US Navy Ships Conduct Astern Replenishment-at-sea

“While replenishments-at-sea are routine, astern refueling is unique and requires precise navigation and coordination,” said Lt. Cmdr. Jason Ileto, fleet replenishment scheduler for Commander,

 
 
Maritime Careers / Shipboard Positions Maritime Standards Naval Architecture Navigation Offshore Oil Pipelines Pod Propulsion Port Authority Ship Electronics Ship Simulators
rss | archive | history | articles | privacy | 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: 0.1024 sec (10 req/sec)