The company started working with Qatar Petroleum over bunkering operations in 2017.
Ahmad Zaki Resources reports increased bunkering activity at Kemaman Supply Base during 2017.
A total of 56 shipping and trading firms have been targeted by the U.S. OFAC for doing business with North Korea.
From RM 100,000 to RM 2.7 million on year in 2017, due to diversification into oil bunkering and trading activities.
‘We don't want to be playing defense for the next two years in anticipation of 2020,’ says President.
‘We are well positioned to provide any solution for 2020 when low sulphur regulations commence,’ says spokesman.
The company recorded impairment charges of $91.9 million primarily related to its marine segment, it notes.
Company incurred approximately $14.5 million in non-recurring charges through various advisory fees and write-offs during the period.
The new contracts follow the LNG Fuel Supply Agreement between Shell and Sovcomflot in 2017.
H.E.C. Europe and other firms are owned and controlled by Aegean’s founder and former Head of Corporate Development.
