Greek bunker company dragged down by shipping and extreme weather

Aegean Marine Petroleum has declined to a deficit in the third quarter due to a tough shipping market and extreme weather conditions, prompting the oil price to rise. The company has lowered costs, says the CEO.

Photo: Colourbox

Problems in shipping and extreme weather have impacted the result in bunker company Aegean Marine Petroleum.

The Greek company, which is listed in New York, published a report for the third quarter 2017 which revealed red figures on the bottom line.

The result shows a loss of USD 3.8 million against a USD 10.5 million profit in the same period last year. This is despite the fact that revenue increased 18 percent.

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