ShippingWatch

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.

Read the whole article

Get 14 days free access.
No credit card required.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Maersk unveils design of methanol vessels

For five years, Maersk has been working on developing a new vessel design, which can increase the energy efficiency of its fleet by 20 percent. The first eight vessels are planned to sail on green methanol from 2024.

Related articles

Latest news

See all jobs