Sign up
Log in Sign up
Thu 23 Dec 2010 09:27

Aegean share price jumps almost 10%


Share value rises on news that Aegean plans to launch supply operations in Cape Verde.

Shares of Aegean Marine Petroleum Network Inc. on the New York Stock Exchange (NYSE) were trading 9.8 percent higher yesterday following news that the leading international bunker supplier plans to commence physical supply operations in Cape Verde Islands, an archipelago of 10 islands located off the coast of Western Africa.

The company's share value closed at US$10.04 per share yesterday after Aegean revealed that it had entered into a strategic co-operation with Enacol, a local energy company based in Cape Verde.

Under the agreement, Aegean will use its delivery fleet to provide bunkering services from the port of Mindelo on the island of Sao Vicente and off-shore. Enacol will be responsible for providing storage for fuel oils and distillates to meet the needs of all major sectors within the international shipping industry.

Yesterday the trading range for shares of Aegean was between $9.13 and $10.12 per share. According to analysts who cover Aegean, the average price target is $16.00 per share.

The volume of shares traded was 300,000 shares, or 41 percent, higher than the daily average volume of 780,000 shares.

Marius Kairys, CEO of Elenger Sp. z o.o. Elenger enters Polish LNG bunkering market with ferry refuelling operation  

Baltic energy firm completes maiden truck-to-ship LNG delivery in Gdansk.
Samsung Heavy Industries (SHI) virtual reality (VR) training program developed in collaboration with Evergreen. SHI develops VR training solutions for Evergreen's methanol-fuelled ships  

Shipbuilder creates virtual reality program for 16,500 TEU boxship operations.
Illustratic image of Itochu's newbuild ammonia bunkering vessel, scheduled for delivery in September 2027. Itochu orders 5,000 cbm ammonia bunker vessel  

Japanese firm targets Singapore demonstration after October 2027, with Zeta Bunkering lined up to perform deliveries.
Bunkering of the Glovis Selene car carrier. Shell completes first LNG bunkering operation with Hyundai Glovis in Singapore  

Energy major supplies fuel to South Korean logistics firm's dual-fuel vessel.
Orient Overseas Container Line (OOCL) vessel. CPN delivers first B30 marine gasoil to OOCL in Hong Kong  

Chimbusco Pan Nation claims to be first in region to supply all grades of ISCC-EU certified marine biofuel.
The Buffalo 404 barge, owned by Buffalo Marine Service Inc., performing a bunker delivery. TFG Marine installs first ISO-certified mass flow meter on US Gulf bunker barge  

Installation marks expansion of company's digitalisation programme across global fleet.
Sogestran's fuel supply vessel, the Anatife, at the port of Belle-Île-en-Mer. Sogestran's HVO-powered tanker achieves 78% CO2 reduction on French island fuel runs  

Small tanker Anatife saves fuel while supplying Belle-Île and Île d'Yeu.
Crowley 1,400 TEU LNG-powered containership, Tiscapa. Crowley deploys LNG-powered boxship Tiscapa for Caribbean and Central American routes  

Vessel is the third in company's Avance Class fleet to enter service.
The inland LNG bunker vessel LNG London. LNG London completes 1,000 bunkering operations in Rotterdam and Antwerp  

Delivery vessel reaches milestone after five years of operations across ARA hub.
The M.V. COSCO Shipping Yangpu, China's first methanol dual-fuel containership. COSCO vessel completes maiden green methanol bunkering at Yangpu  

China's first methanol dual-fuel containership refuels with green methanol derived from urban waste.

↑  Back to Top


 Recommended