Market rumours of management changes at New York-listed bunkering firm Aegean Marine Petroleum Network were discussed during Singapore late trading hours on Thursday.
Several sources informed Manifold Times of Aegean President Jonathan McIlroy allegedly about to step down from his position, with no news of a replacement yet; Aegean elected McIlroy as President during July 2017.
Meanwhile, the company is set to promote Captain Chris Roberts, who is the current Sales Director at the New York office, to the position of Global Sales Director.
Manifold Times have contacted an Aegean spokesperson and is waiting for an official response on the above development.
The company in August started its ‘sole lender’ relationship with Mercuria Energy Group Limited with an initial USD $30 million loan.
A timeline-accurate list of events preceding the current development can be found below:
Related: Mercuria starts ‘sole lender’ arrangement with Aegean
Related: Aegean establishes new management committee
Related: Mercuria bails Aegean out with $1 billion credit
Related: Ocean Intelligence comments on Aegean credit downgrade
Related: Aegean shares down 71%, to face legal investigations
Related: Aegean audit uncovers $200 million account discrepancy
Related: Aegean unfolds several business developments
Related: Aegean drops founder, elects new board members
Related: Aegean requests for ‘additional time’ to file annual report
Related: Aegean welcomes new Chief Financial Officer
Related: Lawsuit filed against Aegean’s H.E.C. acquisition
Related: Aegean to offer ‘one-stop-shop solution’ with H.E.C. acquisition
Related: Aegean in $367 million acquisition of port reception facilities services group
Related: Aegean shareholders ‘gravely concerned’ over board’s silence
Related: Shareholders nominate ‘highly qualified’ candidates to Aegean board
Related: Aegean Marine Petroleum Network under shareholder pressure
Published: 17 August, 2018
‘We are happy to sit down with interested parties to discuss this opportunity, and share more details of our business regarding STS transhipment and storage with potential clients upon request,’ states Managing Director.
Top three positive movers in 2021 were Hong Lam Fuels Pte Ltd (+14); Sirius Marine Pte Ltd (+12); and TFG Marine (+11); according to the latest data from the Maritime and Port Authority of Singapore.
Webinar will offer delegates insights on the prevention of operational issues when using VLSFOs, along with an update on biofuels and bunker fuel quality trends for 2021 and its forecast for the current year.
Heating VLSFOs to prevent cold flow issues causes issues related to distillate ageing, and there is a gentle balance to be maintained when handling the product.
Research into n-paraffin distribution of VLSFOs has shown that they not only differ from MGO, but significantly differ from each other as well, states bulletin.
Bunker Holding and Dan-Bunkering have decided not to appeal the city court ruling in the case where the companies were on trial for breaching EU sanctions against Syria, states USTC.