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Aegean to offer ‘one-stop-shop solution’ with H.E.C. acquisition

09 Mar 2018

New York-listed international bunkering firm Aegean Marine Petroleum Network (ANW) aims to create a “one-stop-shop” for the shipping industry through the acquisition of H.E.C. Europe Limited (H.E.C.)

Maritime and offshore waste treatment firm H.E.C. is currently negotiating partnerships with port authorities and port owners in two new geographic locations, says Jonathan Mcilroy, President of ANW, during an earnings call.

He noted the combined opportunities represent over nine ports with more than 23,000 vessel calls per annum.

“Importantly, the combination of Aegean and H.E.C. aims to create a global one-stop-shop for the shipping industry integrating bunkering and ship waste management and providing clients the assurance that their needs will be addressed in multiple locations with the same quality and efficiency standard,” he explains.

“Moving forward, we will continue our focus on profitable growth opportunities in our core marine bunkering business while taking full advantage of the expansion opportunities presented through H.E.C.”

Darren Laguea, the Group CEO of H.E.C. Europe Limited will be part of the new board, according to Mcilroy.

Laguea is a former CEO and COO of Nature Group LLC, a port reception facility company. He ran the technical fuel bunker installation operations in Gibraltar and has extensive experience in port reception facilities on the wider bunker industry.

“Our goal is to create a global one-stop-shop for the shipping industry that integrates bunkering and waste management services and delivers to clients around the world a branded, high quality, transparent and efficient total service solution,” says Spyros Gianniotis, chief financial officer at Aegean.

“With this transaction, we are confident that we can achieve growth significantly greater than what either company could achieve on a standalone basis.”

Photo credit: Aegean Marine Petroleum Network
Published: 9 March, 2018

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