World News
Aegean Agrees $750m Three-Year Facility with Lenders
Bunker company Aegean Marine Petroleum Network Inc. [NYSE: ANW] (Aegean) has arranged a $750 million credit facility with a syndicate of banks.
The deal runs for three years and includes an option for an additional $250m, the company said. It replaces an outgoing one-year $1 billion facility, it added.
The funds together with a $250m US credit arrangement agreed earlier this year are to cover working capital needs.
"This new, three-year facility, on improved terms with a strong syndicate of international banks is a true testament to the strength of Aegean's global network," said company president Jonathan McIlroy.
"We believe it will provide flexibility to continue executing our strategy," McIlroy added.
The US-listed firm posted a loss in its third quarter results.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 647.00 | 8.50 | 779.00 | 29.50 |
| Rotterdam | 608.00 | 11.00 | 764.50 | 24.50 |
| Houston | 636.50 | 8.00 | 807.50 | 5.00 |
| Fujairah | 649.50 | 4.00 | 888.50 | 11.50 |
| Global 20 Ports Average | 665.50 | 6.50 | 870.50 | 14.50 |
| Global 4 Ports Average | 635.50 | 3.50 | 810.00 | 17.50 |
| Global Average Bunker Price | 725.00 | 2.50 | 925.50 | 8.00 |
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