World News
Aegean Completes Melissanidis Share Repurchase
Tuesday September 20, 2016
Aegean Marine Petroleum Network Inc. (Aegean) Monday announced that it completed the repurchase of 11,303,031 shares on September 15, 2016, bringing the company's total outstanding shares to 39,403,822.
As Ship & Bunker reported in August, the move follows Aegean's Founder Dimitris Melissanidis having stepped down from his role as Head of Corporate Development.
Aegean said it would repurchase Melissanidis' 22 percent stake in the bunker company, paying $8.81 for each of his 11,303,031 million shares, for a total of $99.6 million.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 649.00 | 0.50 | 775.00 | 3.50 |
| Rotterdam | 603.50 | 1.50 | 759.50 | 11.50 |
| Houston | 626.50 | 2.50 | 794.00 | 2.00 |
| Fujairah | 649.00 | 0.50 | 904.50 | 6.50 |
| Global 20 Ports Average | 664.00 | 2.00 | 855.00 | 0.00 |
| Global 4 Ports Average | 632.00 | 1.00 | 808.00 | 4.00 |
| Global Average Bunker Price | 716.50 | 1.00 | 901.00 | 12.50 |
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