World News
Aegean: Annual Bunker Volumes Flat After Falling 11.6% in Q4
After a strong start for bunker sales growth in 2017, Aegean Marine Petroleum Network Inc. [NYSE: ANW] (Aegean) today reported its 2017 Q4 bunker sales volume fell 11.6% year-over-year to 3,511,023 metric tonnes (mt), and were flat overall for the 2017 calendar year.
Earlier in 2017, the world's biggest independent physical bunker supplier saw volumes for 2017's Q1 and Q2 rise 5.6% and 9.3% respectively, before dipping 2.8% year-on-year in Q3.
"Our decision to cease operations in Singapore and downsize operations in Fujairah in order to focus on higher return areas contributed to a 15.2% decrease in sales volume when compared to the prior quarter," Spyros Gianniotis, Aegean's Chief Financial Officer explained.
The result means Aegean's annual volumes for the 2017 calendar year were flat at 16,575,404 mt, compared to 16,519,079 mt sold in 2016.
Still, the volume represents an impressive growth of almost 67% over the 2013 volume of 9,941,061 mt recorded just five years ago.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 647.00 | 6.00 | 762.00 | 5.50 |
| Rotterdam | 599.00 | 1.00 | 751.00 | 0.50 |
| Houston | 618.00 | 11.50 | 802.50 | 6.50 |
| Fujairah | 642.00 | 5.50 | 883.50 | 5.50 |
| Global 20 Ports Average | 661.50 | 3.50 | 859.00 | 5.00 |
| Global 4 Ports Average | 629.50 | 1.00 | 799.50 | 1.50 |
| Global Average Bunker Price | 719.00 | 3.50 | 915.00 | 7.50 |
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