World News
Aegean Sees Q3 Bunker Volumes Rise 18.5%
Aegean Marine Petroleum Network Inc. [NYSE:ANW] (Aegean) Monday released its financial and operating results for the third quarter ended September 30th, 2014, which showed that its bunker sales volume for the period had risen 18.5 percent to 2,958,882 metric tonnes (mt) compared with 2,496,457 mt for the same period in 2013.
Revenues also increased, up 13.0 percent to $1,809.7 million compared with $1,602.0 million in Q3 the previous year, but overall the company posted a net loss of $4.3 million compared to an income of $7.3 million for the period in 2013.
"We believe our third quarter results demonstrate the strong, sustainable growth drivers we have in place to deliver long-term growth and profitability," commented Aegean's President E. Nikolas Tavlarios.
"We have a unique business model that not only allows Aegean to grow profitability despite macro headwinds and mitigate industry risks, but also allows us to pursue new pathways to expand our business."
Bunker sales volume for the nine months to September 30th, 2014 is up 10.2 percent to 8,324,325 mt compared to the 7,556,685 mt sold for the period in 2013.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 571.50 | 0.00 | 665.50 | 1.00 |
| Rotterdam | 512.00 | 3.00 | 663.00 | 0.50 |
| Houston | 545.50 | 3.00 | 666.00 | 9.50 |
| Fujairah | 560.50 | 0.00 | 743.50 | 1.50 |
| Global 20 Ports Average | 584.00 | 1.00 | 751.50 | 2.00 |
| Global 4 Ports Average | 547.50 | 0.00 | 684.50 | 2.50 |
| Global Average Bunker Price | 633.50 | 0.50 | 805.50 | 0.00 |
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