World News
Aegean Signs $1 Billion Secured Credit Facilities
Aegean Marine Petroleum Network Inc. [NYSE: ANW] (Aegean) today announced it has signed the facilities agreement for its new syndicated Secured Borrowing Base Multicurrency Revolving Credit Facilities, which have a combined value of $1 billion.
Aegean says it will use the Facilities for the purchase, transportation, storage, and sale of fuel and gas oil.
"These facilities significantly enhance our financial flexibility and will help support Aegean's continued ability to expand our global market share while achieving profitable revenue growth," said Aegean President E. Nikolas Tavlarios.
"We believe our liquidity and strong balance sheet are key differentiators that create significant competitive advantages. We are pleased to have achieved this important milestone."
"We are pleased that eight of the 13 banks participating in the facilities are new to our bank group," added Aegean's Chief Financial Officer Spyros Gianniotis.
"We appreciate the ongoing support from our lenders and their confidence in our ability to continue to execute our strategy."
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| New York | 497.00 | 0.00 | 670.00 | 2.00 |
| Piraeus | 545.50 | 2.50 | 689.50 | 6.50 |
| Singapore | 504.50 | 2.50 | 620.00 | 3.00 |
| Rotterdam | 456.00 | 1.50 | 621.50 | 2.00 |
| Houston | 476.00 | 7.00 | 624.00 | 1.00 |
| Fujairah | 496.50 | 2.00 | 713.00 | 2.50 |
| Global 20 Ports Average | 526.50 | 0.50 | 712.00 | 0.50 |
| Global 4 Ports Average | 483.00 | 2.00 | 644.50 | 0.50 |
| Global Average Bunker Price | 570.50 | 1.50 | 751.00 | 1.00 |
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