Aegean News · market as a physical supplier, it paves the way for a future that positions the...

InterviewMiltiadis

Varvitsiotis Minister of Shipping

and the Aegean

Lloyd’s List Greek

Shipping Awards for 2013

Children & The Environment

Recycling

PlusFlows & Currents

Travel with Aegean

Aegean NewsWINTER 2013-14

T H E Q U A R T E R L Y M A G A Z I N E O F A E G E A N

Aegean Acquires Bunkering Operations of Hess

in the USA

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WINTER 2013-2014 AEGEAN NEWS 1

The purchase by Aegean of the U.S. east coast bun-kering operations of Hess Corporation marks a key turning point for Aegean. As Aegean moves forward in serving more markets globally, the Hess buyout puts the company in the center of one of the most important bunkering markets in the world. Not only does this strategic move give Aegean its first presence in the U.S.

market as a physical supplier, it paves the way for a future that positions the Aegean brand in a new and important manner.

The U.S. position allows Aegean to build a far stronger brand globally, gain-ing a new customer base that sails the world. In addition, this move provides greater access to the all-important cruise sector, an area that offers Aegean significant upside movement and healthy growth.

The U.S. has traditionally been the most attractive market for businesses of all kinds. Its robust nature is matched by its highly demanding service requests. But it is also a bellwether of global success and traditionally leads to more effi-cient performance.

Aegean welcomes the opportunity to enter this dynamic and challenging market. It welcomes the opportunity to prove, once again, that it can respond to all markets, and all market conditions, whether in North American or Southeast Asia, the Caribbean or the Mediterranean, the Atlantic or the Pacific.

Its service record is based on an “anywhere, anytime” approach that puts the customer at the center of its operations. This approach is what propelled Aege-an to all corners of the world and what will continue to propel it to new heights, new levels of success, and new markets.

Give the customer the best products, the best service, and at the best price. That’s the Aegean promise that makes the Aegean brand trusted, relied upon, and called upon.

24/7. 365.

editorial

RAYMOND MATERAPublisher

RetailAEGEAN OIL has established a gas station

network throughout Greece, and is one of

the fastest growing companies in the retail

market. AEGEAN’S gasoline market share in

Greece is 8%.

ShippingAEGEAN SHIPPING manages a fleet of tank-

ers, ranging from 3,500DWT to 100,000

DWT, that transfers and delivers oil to our

clients throughout the world. All ships meet

ISM standards.

BunkeringIn Piraeus, Patras, Gibraltar, Amsterdam-Rot-

terdam-Antwerp, Fujairah, Jamaica, Singapore,

Trinidad & Tobago, Portland UK, Vancouver,

Montreal, Mexico, Tangiers, Las Palmas and

Tenerife, Panama, Barcelona, Algeciras, Bal-

timore, Philadelphia, New York, Norfolk, and

Charleston, AEGEAN MARINE PETROLEUM is a

leader in providing the best bunkering services

available. AEGEAN MARINE PETROLEUM is the

market leader in bunkering.

Agency ServicesShips from around the world rely on AEGE-

AN AGENCY services at Piraeus, Gibraltar,

Fujairah, and Jamaica, from loading and dis-

charging, to spare parts and supplies.

LubricantsAEGEAN OIL produces and markets high per-

formance lubricants for vehicles and indus-

trial use, under the AEGEAN brand. AEGEAN

MARINE PETROLEUM trades and supplies

lubricants for the marine market under the

ALFA brand.

AegeanCore Activities

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4 AEGEAN UPDATE

13 CHRISTMAS PARTY

14 FLOWS AND CURRENTS

Trends and News in the Oil and Energy Fields

16 STATIONS OF THE MONTH

• Christos Detsaridis, Alexandroupoulis

• Sophia Konstantinou, Lianokladi, Lamia

18 BUNKERING

Aegean Expands Bunkering Operations

in the USA

24 INTERVIEW Miltiadis Varvitsiotis, Minister of Shipping and the Aegean

26 MARITIME TRADITION ΤThe Aegean Sea and the Origins of Shipping―Chapter III: Byzantium and Liquid Fire

27 TRAVELWITHΑEGEAN Tsagarada

28 CHILDREN AND THE ENVIRONMENT Recycling – Easy as 1 2 3

30 AEGEAN COLLECTION Step Out in Style

18 Aegean acquires bunkering operations of Hess in the USA10 Aegean receives the Award

for Achievement in Safety and Environmental Protection

24 Miltiadis Varvitsiotis, Minister of Shipping and the Aegean, speaks with Aegean News

AEGEANMARINEPETROLEUM

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contents

Winter 2013-2014Aegean News is published quarterly by AEGEAN

PUBLISHER & MANAGING EDITOR Raymond Matera

CONTRIBUTING EDITOR Alexandra Loli

DESIGN Snack

PRINTING AND BINDING Korifi Publications SA

OWNER Aegean 10 Akti Konydli 185 45, Piraeus, Greece Tel: +30 210 458 6000 Fax: +30 210 458 6241 E-Mail: [email protected] Websites: www.aegeanoil.gr, www.ampni.com

Comments and suggestions are welcome.

Aegean News is free of charge and is available, subject to availability, to any interested person or organization.

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4 AEGEAN NEWS WINTER 2013-2014

Participation at the Platts 2nd Annual Mediterranean Bunker Fuel ConferenceThe Platts 2nd Annual Mediterranean

Bunker Fuel conference was held on

December 4th, 2013 at The Hotel Rey

Juan Carlos, Barcelona, Spain. Platts,

the leading global provider of energy

information and a premier source of

benchmark price assessment, orga-

nized the event.

Platt’s conference covered the issues

and challenges of the region. It is

the only such meeting to look at the

Mediterranean and its marine fuel

markets in its entirety, with sessions

addressing developments at key hubs

and local markets, from Gibraltar

to Turkey, and overcoming regional

challenges.

Panels were comprised of leading pro-

fessionals in the industry and clients

of Aegean. Participants discussed

the outlook for the Mediterranean

tanker markets and there was also an

HSFO (High Sulfur Fuel Oil) market

overview, with an in-depth analysis of

arbitrage economics, rates of flow and

changing European dynamics.

Participants included the region’s

leading ship operators, owners, bro-

kers, fuel suppliers, refiners and other

key organizations working in the

marine fuel industry.

Piraeus HQ Bunker Trader Anna-Maria

Karakasi represented Aegean.

A E G E A N U P D A T E

World Coastal Cleanup Day

The Hellenic Marine Environment Protection Association (HELMEPA) annually coordinates

World Coastal Cleanup Day in Greece, held on the third Saturday in September.

This initiative increases awareness of the shores that we use for our pleasure and enter-

tainment.

Hundreds of organizations and thousands of citizens from 80 countries of the world partici-

pate in World Coastal Cleanup Day.

In 2013, International Coastal Cleanup Day was on September 15.

As every year Aegean, with the contribution of its employees, showed sensitivity in matters

of environmental consciousness and proceeded in the meticulous cleaning of the beach

around the pier of Aspropyrgos.

The result of the operation was very satisfactory and the pier appeared cleaner than the best

organized beach!

Everyone needs to contribute to such efforts, especially in matters concerning our future!

Beach cleaning at Aegean’s main facilities at Aspropyrgos

Logging OnCustomers and associates may log on at: www.aegeanoil.comCustomers and associates of Aegean Marine Petroleum may log on at: www.ampni.com


Supply of FGS Oker

Supply of FGS Oker in HeraklionOn October 11, 2013 Aegean sup-

plied the German Navy ship, FGS Oker

in the harbor of Heraklion, Crete.

The collaboration was excellent at

every level, both in terms of commu-

nication between the ship's crew and

Aegean personnel, and in relation to

the order delivery speed and commu-

nication with the agent representing

the client and port authorities.

During the process all participating

parties complied with all security

requirements.

As part of the continuous training of the

staff of Aegean, Lucia Fokas participated

in a 5-day training seminar in Cambridge,

England, entitled Trading Oil on International

Markets, on October 14-18, 2013.

This course covered, in five days, the entire

chain of the oil industry.

In particular, it analyzed a wide range of

topics related to the economics of trading

and the management of inherent price risks.

The seminar covered the following topics in

depth:

• Economics of Trading

• Price Risk Management

• Legal, Operational, and Shipping Aspects

of a Contract

• Deal Negotiations

• Credit Management

• Shipping Documents

• Best Trading Practices

The lecturers analyzed, in detail, numerous

aspects and different factors which may in-

fluence a decision and need to be considered

before taking a position in oil markets. The

lecturers were highly experienced, with a

good grasp of the oil market, both in theoret-

ical terms and in professional practice. They

shared with the attendees business secrets

from past deals and providing their analysis

on the present status, and their prediction on

the future, of the oil industry, trading, geo-

politics and how all components correlate

with each other.

This seminar was attended by managers

from a number oil companies, such as Lukoil,

Gazprom, and Total.

Seminar on Trading Oil in International Markets

Training participants

Seminar attendees

Trading TrainingOn November 26 and 27, a Fuel and Marine Gasoil gathering successfully took place at Aegean's headquarters in Piraeus with the support and collaboration of BP's Business Training and Development team. Trading Foundations were developed and analyzed, with the assistance of interactive live simulations. The fundamentals of both markets were presented and a thorough discussion of future developments, given the specification changes forthcoming in the bunkering business in 2015, was made during the event. Aegean's Sales and Supply & Trading teams attended the event.


Aegean Among Singapore’s Top 20 SuppliersThe Maritime and Port Authority of

Singapore (MPA) listed Singapore's

20 leading accredited bunker suppli-

ers by volume for 2013, among which

was Aegean Bunkering, in 17th place.

1 BP Singapore

2 Sentek Marine

3 Transocean Oil

4 SK Eenrgy

5 Shell Eastern Trading

6 Global Energy Trading

7 Tankoil Marine Services

8 Universal Energy

9 Chemoil International

10 Costank

11 Exxonmobil Asia Pacific

12 Bunker House Petroleum

13 OW Bunker Far East

14 Sirius Marine

15 Singapore Petroleum Company

16 Searights Maritime Services

17 Aegean Bunkering (Singapore)

18 Golden Island Diesel Oil Trading

19 Consort Bunkers

20 Equatorial Marine Fuel Management Services


Self-Operated Station Network Lubrication Training SeminarOn December 4-5, 2013 Aegean, in their modern lubricants production facilities, held a

training seminar related to passenger car lubricants. The Director of the facilities, Nikos

Panagopoulos, escorted the staff of Aegean’s self-operated station network, as well as

select Aegean partners, through the chemistry laboratory. The facility provides quality con-

trol services according to the most demanding lubricant approval procedures from engine

manufacturers such as VW, MB, BMW, MAN, Scania, Volvo, Wartsila, and MTU. The seminar

familiarized the participants with the advantages of Aegean’s lubricant production process,

packaging, as well as the shipping methods used for affiliates or subsidiaries of Aegean in

Greece and abroad.

The technical component of the seminar covered new technologies of new petrol and diesel

engines, the advantages of the high quality raw materials of Aegean lubricants, lubricant

endurance in the wide range of temperatures of new engines, long change intervals, and fuel

economy. The Director of lubricant sales presented the new four-point control service for

selected Aegean service stations. The new service includes checking the level of engine oil,

antifreeze, brake fluid, and liquid windshield cleaner fluid—for an immediate and economical

refill with quality products.

Aegean will also organize a lubrication seminar for the staff of self-operated service stations

in Thessaloniki. According to Christos Archontakis, Lubricant Sales Development Manager,

training of the new four-point control service is already taking place at service stations.

Training Seminar


Donation of Heating Oil to 200 Primary Schools

As part of George Melissanidis’ initiative to donate heating oil to 200 primary schools, Aege-

an delivered, in November, heating oil to 50 more schools, in the regions of Ioannina, Alexan-

droupolis, Soufli, Didimoticho-Orestiada, Xanthi, Komotini, and Nikea-Redi Attica. The Minis-

try of Education and Religious Affairs, Culture and Sports selected the schools, in conjunction

with Ioannis Sgouros, the President of the Association of the Regions of Greece (ENPE). This

social action was scheduled for completion by the end of December 2013.

According to new amendments of the STCW (Standards of Training, Cer-tification and Watchkeeping for Sea-farers) Convention and the Code, the international community established new requirements regarding security training.The new requirements (including security related familiarization, profi-ciency in security awareness, and pro-ficiency in designated security duties) apply to all merchant vessels, all over the world, and are mandatory from January 1, 2014.

The specifications of minimum stan-dards of competence for seafarers with designated security duties in-clude the maintenance of a SSP (Ship Security Plan), a working knowledge of maritime security terms and defini-tions, security policy and the respon-sibilities of governments/companies/persons, a knowledge of security levels and their impact on security measures, security reporting proce-dures, procedures for conducting inspections and surveys, legislative re-quirements, communications used in

case of an incident, and many others.Aegean, to be aligned with the new standards, conducted on October 23 and 24, 2013, in cooperation with Alpha Marine Consulting Ltd., seminars for all shipboard personnel who, at the seminar, performed se-curity duties (including anti-piracy and anti-armed robbery related activ-ities), to enhance their awareness and knowledge to undertake the duties and responsibilities required by the convention. Each participant was pro-vided with a certificate of completion.

Security Awareness Seminar Security awareness seminar

New EmployeesThe following employees have joined the Aegean work force.

AEGEAN OIL

Aggelos Delakas

AEGEAN BUNKERING SERVICES-ABS

Konstantina Morou

Panagiotis Nikokiris

Christos Kouvelis

Georgios Karafergias

AEGEAN MARINE PETROLEUM-AMP

Loukia Foka

Georgios Marinos

Gratsiella Kladi

Ioannis Kampylis

HEC

Christoforos Moros

OIL ONE

Eleftherios Liagos

Vassilios Athanasiadis

Heating oil delivery


Participation at Eisbeinessen 2013The 65th Eisbeinessen took place on November 1, 2013 in Hamburg.

Since 1948, this event takes place every year on the first Friday of

November. The dinner originally was a way to celebrate the termina-

tion of a ban to do foreign business. In November of 1948 the dinner

was attended by the 110 shipbrokers remaining in Hamburg and it

was a success, taking into consideration that the dinner took place

only three years after the war. The member companies of Hamburg

Shipbrokers’ Association decided to repeat that dinner every year

and gradually it became an international event.

The dinner takes place at the Congress Centrum Hamburg (CCH) a

meeting point that gathers more than 5,000 people involved in the

shipping sector including shipbrokers, shipping agents, shipowners,

bankers, forwarding agents, terminal operators and ship suppliers from

more than 50 countries. Today, apart from the main event, scores of

other events are also held during the week of the Eisbeinessen dinner,

making it the top convention of the German shipping community.

Aegean was an active participant in the event as a guest and enjoyed

the hospitality of our German customers. Nikos Zaharopoulos, from

our Piraeus trading team, and Ken De Bisschop from our Antwerp

trading team attended the event and interacted with customers and

suppliers to promote Aegean’s worldwide activities and strengthen

the already good relationship we enjoy with our German clients.


Hellenic Cruise Ports: Best Practices & Sharing Knowledge Conference

Eisbeinessen dinner

On November 8 and 9, 2013, the Port of Heraklion organized a conference entitled Hellenic Cruise Ports: Best Practices & Sharing Knowledge, at the Chamber of Heraklion, Crete. Among the distinguished speakers were Min-ister of Marine and the Aegean, Mil-tiadis Varvitsiotis; President and CEO of PPA (Piraeus Port Authority) and Chairman of the Board of the Hellen-ic Ports Association (ELIME), George Anomeritis; and President and CEO of Heraklion Port Authority SA and Vice President of the Board of ELIME, Ioannis Bras.HEC Managing Director Panagiotis Stamatogiannis represented Aegean at the conference. During his speech, Mr. Stamatogiannis said: "Events like

this are valuable for Greece as they promote the two most lucrative sec-tors of our national economy, tourism and shipping. The coupling of these two sources of national wealth is the concept of a cruise ship, which is in effect a ship and a hotel at the same time, the symbol of dreams and luxury

holidays that enables travelers to com-fortably reach many destinations." Noting that the port of Heraklion, which among other ports in Greece provides high-level waste reception services, has entrusted Aegean for this duty, Mr. Stamatogiannis added: "Waste management from vessels, and particularly oil waste management, is a highly specialized, complex and costly process, due to the ever-in-creasingly and, rightfully so, stringent environmental legislation. In line with the motto of our company, the recycling process converts useless into useful material, harmful substances into beneficial ones, pollutants into energy resources, and waste into a key link in the chain of life."

Panagiotis Stamatogiannis, HEC Chairman


Traditional Carols On December 24, 2013 the Pontian Association of Korydallos, Nikea sang

traditional carols for Aegean on the ground floor of the headquarters in Piraeus.

The Association’s children's dance team gave a special touch to the festive

atmosphere with the beautiful spectacle they presented.

Aegean founder Dimitris Melissanidis thanked the club for their kind

performance and wished everyone a Merry Christmas.

Expressions of Solidarity by SEEPEOn Christmas Eve the Hellenic Petroleum Marketing Companies Association (SEEPE), in col-

laboration with other companies of the field, took the initiative to collect and deliver pack-

aged food to organizations and clubs, previously audited for proper operation, that provide

humanitarian assistance to disadvantaged fellow human beings in Athens, Thessaloniki and

other cities.

Aegean staff, in collaboration with the company’s Human Resources Department, showed

sensitivity and love for their fellow man in need by filling the warehouse with hundreds of

packages of food.

Congratulations to all for a worthwhile effort!

Pontian Association dancers

6th Congress of Port Projects by NTUAThe National Technical University of Athens (NTUA) organized the 6th Na-tional Conference of Port Projects on November 11- 13, 2013, in the confer-ence hall of the Eugenides Foundation in Athens. Director of Research and Development, Michalis Psaromichalakis, represented HEC at the conference with his presentation on the "Environmental Shield of Embarkation with the Creation of Modern Waste Reception Facilities." In his presentation, Mr. Psa-romichalakis discussed the conditions that forced the international maritime community to create a legal framework to address marine pollution from activities associated with shipping. He examined the entire legal framework in detail, and the technical and economic model applied in Piraeus, in port recep-tion facilities, for waste generated on ships.The president of the organizing committee of the conference, Konstantinos Mountzouris, director of the Laboratory for Harbor Constructions at NTUA, commended Mr. Psaromichalakis for his presentation as it was thorough and to the point.

Wishes for

2014Aegean wishes

to all its friends, business partners,

associates, and clients, in Greece and abroad, a happy, creative, and

successful 2014.

Humanitarian assistance



Lloyd’s List Greek Shipping Awards for 2013An audience of about 1,100 guests filled

the ballroom of the InterContinental Hotel

in Athens on November 29, 2013 to see

the presentation of the Lloyd’s List Greek

Shipping Awards for 2013. The Lloyd’s List

Greek Shipping Awards honor achievement

in the Greek shipping community.

The Athenaeum InterContinental has been

hosting the Greek Shipping Awards since

2005 and was once again the chosen venue

for this year's event. It has the largest ball-

room of any leading hotel in Athens and one

of the few spaces that can host an event of

this magnitude. Guests enjoyed a pre-dinner

drinks party sponsored by ABS, and China

Classification Society proposed a special

toast to the health of Greek shipping.

An independent judging panel, representing

a broad cross-section of the Greek shipping

community and impartial experts in the

industry, assessed the nominations and

decided the recipients of all awards, with the

sole exception of ‘Newsmaker of the Year’,

which was decided by the editorial staff of

Lloyd’s List.

The gathering, the largest in the 10-year

history of an event widely hailed in the Greek

shipping industry as the dinner of the year,

was again sponsored by numerous Greek

and international companies, led by ClassNK

as overall event sponsor.

Aegean was named winner of the Award for

Achievement in Safety and Environmental

Protection for its spotless record establish-

ing zero spill incidents in countless supply

operations around the world. This award

recognizes Aegean's accomplishments and

initiatives in protecting both its dedicated

crews around the world and the important

ecosystem in which the company operates.

Aegean performs on average about 100

supply operations per day and most of these

include STS operations, mooring, unmooring

and cargo operation. Their risk exposure

is unparalleled and higher than any other

ocean-going tanker company.

"We are extremely honored to be recognized

by such a prestigious organization for our

socially and environmentally conscious oper-

ations," said a representative from Aegean.

"At Aegean, we work tirelessly to ensure

that we safeguard each of our employee’s

well-being and also respect our environment

by managing the impact of our operations on

our surroundings. Similar to our successful

financial track record, our market-leading

safety and environmental practices continue

to differentiate our company as a premier

provider of marine fuel logistics. Moving into

2014, we aim both to continue to provide

this outstanding level of service and main-

tain the environmental best practices that

our customers and the shipping community

have come to recognize."

Spyros Fokas accepts the award

Minister of Shipping and the Aegean, Miltiadis Varvitsiotis, and Dimitris Melissanids

George Melissanidis and Spyros Fokas Reception Cocktail


Dimitris Melissanidis Becomes an Official of the Ecumenical PatriarchateThe Holy Church of Christ, through the Ecumenical Patriarch Bartholomeos, honored Dimitris Melissanidis with the title of Curopalates, one of the Church’s highest honorary offices.The Ecumenical Patriarch Bartholomeos granted Mr. Melissanidis the title of Curopalates immediately after the Divine Liturgy of Theophania and the Great Blessing of the Patriarchal Holy Church of Saint George in Phanari.In his remarks, the Ecumenical Patriarch said that the new Official of the Church was honored for his sincere

devotion to the Mother Church, for his humility and his willingness to offer to the pious and noble descendants of Pontos, as well as his other charitable initiatives.This is the first time since 1453 that the title of Curopalates has been awarded. In the Eastern Roman Empire the Curopalates were charged with significant responsibilities of the imperial Palace and important aspects of public life.Metropolitan Pavlos of Drama and Varnavas, Metropolitan of Neapolis and Stavroupolis, among others, attended the ceremony.

The Ecumenical Patriarch Bartholomeos honors Dimitris Melissanidis with the title of Curopalates

The Ecumenical Patriarch Bartholomeos with the Melissanidis family



New Year’s Pita Cutting On February 13, 2014 Aegean hosted its annual New Year’s Vassilopita celebration at Teatro

Music Hall. In Greece the cutting and sharing of the Vassilopita, a New Year’s cake, is the tradi-

tional manner to greet the new year.

The event began with a greeting and speech by Dimitris Melissanidis, who reviewed the positive

results of the previous year, and asked all Aegean personnel to keep up their efforts so that the

company may continue its leading performance in the global oil market.

Mr. Melissanidis cut the Vassilopita and Melco was the winner of the coin hidden within.

Following a draw, five lucky Aegean employees won one gold British pound each, gifts from the

Aegean Shop with a total value of 500 Euros and 500 Euros worth of fuel.

After the cutting of the Vassilopita, Aegean hosted a dinner for the 1,500 employees and guests

attending the event, who were entertained until the early hours of the morning in the spectacular

atmosphere created by artists Stan, Tamta, Pantelis Pantelides, and Paola.

Politicians, shipowners, businesspeople, journalists, the management of OPAP and AEK, and

many celebrities attended the event.

A Happy and Healthy New Year to All!


Christmas Party for Aegean’s Children

Continuing its annual tradition, Aegean opened its arms on December 15,

2013 to employees and their children for a Christmas celebration on the

8th floor hall of the company’s head offices in Piraeus.

A festive atmosphere, a rich entertainment program, activities, and

dancing, combined with delectable dishes and desserts for the little ones,

kept their interest throughout the party.

A snowman welcomed the children and Santa Claus, dear to all, appeared

at the end of the party to give gifts and spread love and joy!

Upon departing, young and old renewed their rendezvous for next year!

Merry Christmas and Happy New Year to all!

C H R I S T M A S P A R T Y


Hidden Ocean Waves Scientists have been aware of the

existence of internal ocean waves

for over a century, but these waves

have so far been poorly under-

stood because of the difficulty in

studying them.

The effect of such waves on the

ocean surface is negligible and

causes an increase in the sea level

of just a few centimeters, which is almost imperceptible in heavy seas. Shape-wise

underwater waves look like regular ones. The only difference between an underwater

wave and the water around it is density, due to differences in temperature and salt

content, causing stratification in ocean water. The stratification is detected only with

special equipment and can produce waves that reach great heights, travel vast dis-

tances, and play a key role in the mixing of ocean waters, pushing warm surface water

down and drawing heat from the atmosphere.

Because these internal waves are difficult to detect, it is often a challenge to

study them directly in the ocean. Recently, researchers conducted a laboratory

experiment to study the generation of internal waves in the Luzon Strait, between

Taiwan and the Philippines. These waves can reach heights of over 170 meters

and travel at a rate of a few centimeters per second. They play an important role

in the mixing of ocean water and the global climate. Because internal waves can

carry nutrients from the ocean depths, they may also play an important role in

maintaining coral reef ecosystems, which are considered vulnerable to climate

change and other environmental impacts.

F L O W S A N D C U R R E N T S

Greek Fleet—One of the Best Worldwide The new year began well for Greek shipping companies. Greek shipown-ers are further enlarging their fleets by buying second-hand ships and or-dering newbuilds. In fact, during the first ten days of the new year, Greek shipping companies seem to be moving at the same pace as 2013. Last year the Greek shipping industry broke all previous records in shipbuild-ing and marine markets, investing a total of over 19 billion dollars and renewing their fleet, the value of which is estimated at 101 billion dollars.Investments are continuing at the start of 2014. Greek companies have procured 15 ships in the second-hand market, a total investment of more than 300 million dollars. Greek shipowners also ordered the con-struction of 19 new vessels. According to latest reports, second-hand markets show a150% increase compared with the last working week of December of 2013, and the number of new ship orders is up by an incredible 280%.

Optimism for International Shipping in 2014Prospects are improving for

shipping in 2014. Europe will

exit the recession by offering

a slightly higher demand for

container ships and tankers. In

the U.S. there will be a strong

private demand and increasing

domestic oil production. This will

benefit the containership and

crude oil tanker industry.

In the U.S. growth is projected

at 2.6%, while in emerging mar-

kets and developing economies,

growth is expected to stand at

5.1 % in the new year. In Asia,

analysts predict upward surge

in demand in tonnage. China is

on track for an increase of GDP

by 7.3%, while Japan is also on

the rise.

During 2013 yards pushed pric-

es down and responded to the

need of ships with reduced fuel

consumption.

For 2014 the fleet of dry bulk

cargo is expected to increase by

4.4% compared with 5.9% in

2013 , tankers by 2.9% com-

pared with 2.3% in 2013, the

carrier ships by 4% compared

with 3.2% 2013, while contain-

er ships by 5.7% compared with

5.9% in 2013.

Source: Nafteboriki


Greek Parliament Ratifies Agreement with TAP

In December of 2013 the Greek

Parliament ratified the agreement

between the government and the

Trans Adriatic Pipeline signed in

June of last year. The agreement

establishes the framework by which

the project will be implemented in

the Greek territory, including pro-

cedures related to land acquisition,

the application of technical, environ-

mental, social and safety standards, and licensing.

The 870 km TAP pipeline will be one of the largest sources of foreign direct investment

in Greece, and will cost approximately 1.5 billion Euros for the Greek section alone.

During construction, TAP will create up to 2,000 direct and 10,000 indirect jobs.

The largest portion of the TAP pipeline, which will transport natural gas from Azer-

baijan to Europe, will be through Greek territory, making Greece a significant energy

hub, since the pipeline will facilitate the supply of natural gas to many countries of

Southeast Europe.

Greek Sea—Source of Inspiration Historically our seas, an integral part of the life of the Greeks and Greek history, have been a source of inspiration for poets and artists. After the invention of photogra-phy at around mid 1900’s, many photographers used their art to immortalize the Greek seascape.Drawing from this topic, the

Benaki Museum showcased approximately 350 photographs divided into five chronological groups: the second half of the 19th century, the first decades of the 20th century, the Interwar Years, post World War II, and the age after the fall of the junta to the present day, in an exhibit entitled "Greek Seas—A Photographic Journey Through Time.” The images tell the story of the relationship between Greeks and the sea, the way of life in coastal and island communities, the development of our shipping tradition, as well as sailing around the Greek islands from the very first tourists to the age of mass tourism. The successful exhibit, which ran un-til the first days of the New Year, followed the homonymous publication, which contains about 300 selected photos.

Technology Trends for a Sustainable Maritime Industry To secure the future of shipping,

the international maritime industry

should focus on efficiency and the

competitive advantage that techno-

logical innovation can provide. Key

trends include smart “sentient” ships

and the transition to new digital and

technological standards (e-volution).

The smart “sentient” ship has

nano-technology coatings for water-

proofing and anti-pollution and

obeys new technologies in terms of

design, construction, materials and

function. The possibility of using

smart materials such as Buckypaper,

which has one-tenth the weight of

steel but is probably 500 times

stronger, will revolutionize the ship-

building industry since less weight

means less fuel and improved ener-

gy efficiency. Such materials also

offer improved structural integrity

and enable wireless data transfer.

Additionally, the ability to connect

via High Throughput Satellite (HTS)

and the use of algorithms allow ships

to learn to navigate on their own.

But what about the crew on these

new smart ships? Technology that

transmits the traces of a navy officer

aboard could completely change the

security landscape. Microchips can

facilitate a series of works, from

wireless money transfer and payment

to monitoring the health of the crew.

Communication possibilities with

the Internet both at sea and on

land, and the use of cloud comput-

ing, will fundamentally change the

shipping industry.

© Benaki Museum's Photographic Archives


S T A T I O N S O F T H E M O N T H

Mr. Detsaridis’ service sta-tion is centrally located on Dimokratias Avenue.

How long have you been in the fuel business Mr. Detsaridis?My father first opened the service station in 1969 and then I followed in his footsteps. This service station is a family business. I have been working since I was eight years old.

How many years have you been work-ing with Aegean?Since 2000.

And what made you change suppliers and choose Aegean?My personal acquaintance with Mr. Ia-kovos Melissanidis. I met him in 2000, we exchanged a few words and that was it! From day one, without knowing him in the past, we felt that Aegean has our back. Optimism and simple words. This is how we continue.

How has your partnership with you supplier been since then?The difference is like day and night! We apply the following three simple rules: Low prices, quality and humanity. With the customers and among ourselves.

What is your relationship with your customers? Are they happy? Did you ever have any complaints?Our work suffers due to financial

problems in general. People only buy fuel when it is absolutely necessary. Aegean’s low prices, of course, help in relation to the competition. Beyond that we're always looking to find a way to stay on top.

In what ways do you try to boost your business?We make sure we have repeat busi-ness. This is one of the good things about living here in the province. We all know each other. So when we are honest, customers see this. We have customers who have been coming to us steadily over the last 30 years. We're not a gas station on the national road where people drive by and never

come back. Above all we try to be honest with them. We maintain a per-sonal relationship and always offer a smile and a piece of candy!

Is your service station busier during the tourist season?During the summer months we have more work with car fuel, while during the winter our work increases because of heating oil.

Do you have any future plans for the service station that you would like to share with us?Soon we will install an input-output system to upgrade our service sta-tion.

Alexandroupolis, the capital of Evros, has a population of 57,812 residents. A major port

and commercial center of northeastern Greece, and one of Greece’s major transport hubs,

Alexandroupolis is well connected: by air, rail, road, and ferry.

Low Prices, Quality, and HumanityChristos Detsaridis, Alexandroupoulis

View of the service station of Mr. Detsaridis

From day one we felt that Aegean has our back. Optimism and simple words. This is how we continue.


Difficult Times Do Not Affect Solid Agreements Sophia Konstantinou, Lianokladi, Lamia

Travellers will find Mrs. Kon-stantinou’s service station on the National Road between

Lamia and Karpenisi.

How many years have had your own gas Mrs. Konstantinou? What are your main activities?The service station has been in oper-ation since 1995. I am the owner and have been since the beginning. Our main activity is gasoline for cars. We also sell lubricants and heating oil.

When and how did your collaboration with Aegean start?We started with Aegean five years ago. Four months ago we renewed

our contract. Aegean offered us much more competitive prices compared to our old supplier so we decided to make the change. Before joining Ae-gean our prices were very high and always came in second to our compe-tition in the region.

Are there many service stations in the area?Right now there is one more. Some time ago there were two. Basically our service station is the only one operating here in the village at the moment.

Do you employ any staff at your ser-vice station? The service station is a family business. I work here full time, but I get help from my parents and my brother.

Is your service station busier during the summer months?There is more work from February to

November. We are located in a rural ar-ea and we have a lot of work this season from young farmers.

How is your communication with Aege-an? Are you happy with your coopera-tion so far?Our communication is very good. We stick to our agreement. Nothing chang-es because times are tough.

How does the relationship with your supplier reflect on your relationships with your customers?We have never had problems with our fuel or any of the other products we sell.

What is the response of people nowa-days?As you know, the crisis has affected our business, both fuel and heating oil. It’s just that we are going through a rough period, because before that we had no problems whatsoever.

Part of the new municipality of Lamia, Lianokladi is located in the central part of the county,

13 kilometers west by road from Lamia and 220 kilometers from Athens. Lianokladi has a

total population of 3,034 inhabitants.

The service station of Mrs. Konstantinou

We stick to our agreement. Nothing changes because times are tough.


B U N K E R I N G

Aegean Expands Bunkering Operations

in the USA


Aegean Marine Petroleum Network Inc. completed the acquisition of

the U.S. east coast bunkering business Hess Corporation, a leading

supplier of fuel oil in the USA. With a storage capacity of 250,000

cubic meters, the new bunkering stations supply ports with very

heavy traffic, such as New York, Philadelphia, Baltimore, Norfolk, and

Charleston. In 2012 Hess’s average annual sales amounted to 1.8

million tons and annual turnover at about $2 billion.

This acquisition marks the entrance of Aegean in the U.S. market,

making it the dominant player on the East Coast, and allows it to

further globally expand its partnerships with customers from the USA.

Port Reading, New Jersey


About Aegean Marine Petroleum Network Inc. Aegean Marine Petroleum Network Inc. is an international marine fuel logistics company that markets and physically supplies refined marine fuel and lubricants to ships in port and at sea. The Company procures product from various sources (such as refineries, oil producers, and traders) and resells it to a diverse group of customers across all major commercial shipping sectors. These include all types of ocean-going vessels and many types of coastal vessels, such as oil tankers, container ships, dry bulk carriers, cruise ships and ferries.Currently, Aegean has a global presence in 22 markets, including Vancouver, Montreal, Mexico, Jamaica, Trinidad and Tobago, Gibraltar, U.K., Northern Europe, Piraeus, Patras, the United Arab Emirates, Singapore, Morocco, the Antwerp-Rotterdam-Amsterdam (ARA) region, Las Palmas, Tenerife, Cape Verde, Panama, Hong Kong, Barcelona, Algeciras and the U.S. East Coast. The Company has also entered into a strategic alliance to extend its global reach to China. To learn more about Aegean, visit http://www.ampni.com.

B U N K E R I N G

Terminal in Brooklyn, New York


This past December, the New York-listed bunker company Aegean Marine Petroleum

Network Inc. (NYSE: ANW) an-nounced the acquisition of the U.S. East Coast bunkering business of Hess Corporation (NYSE: HES).

The transaction, which includes bunkering operations that averaged 1.8 million metric tons in annual sales over the past three years, is valued at $30 million, plus the val-ue of the purchased inventory, and also includes approximately 250,000 cubic meters of leased tank storage. This acquisition marks Aegean's entry into supplying customers in the U.S. and will enable Aegean to meaningfully expand its global full-service marine fuel platform and increase its exposure to U.S. clients worldwide, including lead-ing cruise lines. Aegean expects to utilize these bunkering operations

and associated assets to supply the heavily trafficked ports of New York, Philadelphia, Baltimore, Norfolk and Charleston.

With this acquisition, Aegean is capitalizing on attractive growth op-portunities to strengthen its position as the premier independent, physi-cal supplier of marine fuel globally and sets the foundations to further expand its operations worldwide.

The company said it is “pleased to further diversify its geographic mix by capitalizing on this attractive, accretive opportunity for U.S. east coast expansion. Hess Corporation has built a tremendous network and we are excited to apply our expertise and capabilities to these established operations. This transaction will require minimal start-up costs and is fully aligned with our objective of strategically expanding our global presence while leveraging our ex-

isting infrastructure to increase rev-enues. We are confident that these operations will strengthen our busi-ness portfolio, bolster our customer reach, and create meaningful value for our shareholders."

The completion of this acquisition marks another important milestone in Aegean's history. Aegean’s strategy to leverage its unique business mod-el across geographies to accelerate profitable growth is continuing to deliver results. By utilizing Hess Cor-poration's established infrastructure, Aegean believes it is well positioned to optimize these assets, grow Aege-an's revenues and further build upon its brand and service capabilities as the company extends its reach to new U.S. clients. This transaction will create meaningful value for all Aegean stakeholders and the com-pany looks forward to commencing operations immediately.


B U N K E R I N G

Please tell us about the operations that Aegean has acquired from Hess, a major U.S. corporation, in this transaction.Aegean purchased the Hess bunker fuel business, which was part of the Hess Supply and Trading group. This group was formed in 2005 and has grown to be the largest bun-

ker supplier on the U.S. East Coast. Nearly all of the Hess employees moved in the Aegean purchase of the Hess bun-kering team to form the foundation for Aegean Bunkering USA Ltd. This team brings its extensive expertise in sourc-ing, blending and risk management, which was developed over the years under various market conditions.

What products will the new team be supplying and in which ports will Aegean USA be operating?We supply all grades of bunker fuel, including HS and LS RMG fuel, MGO and LS MGO in New York, Philadelphia, Baltimore, Norfolk and Charleston.

The strategic terminal locations also provide needed access points to the Colonial pipeline* which will play a greater role as new sulfur mandates are put into place for 2015. Another structural change in the market for 2015 is the anticipated expansion of the Panama Canal. This expansion is expected to bring additional shipping traffic to southern U.S. ports such as Charleston, Norfolk and Baltimore and Aegean will be prepared to service these customers with its strategic port locations.

How do you believe this unit complements Aegean’s strate-gic development in North America?Aegean is further expanding its reach in key North Ameri-can ports. These locations will provide Aegean’s customers (including many cruise lines and container ship companies) with quality products and services they have come to expect

Sal DragoManaging Director, Aegean Bunkering USA LLC.

Aegean further expands its reach in key North American ports. These locations will provide Aegean’s customers (including many cruise lines and container ship companies) with

quality products and services they have come to expect from Aegean.

Managing Director of Aegean Bunkering USA

LLC., Sal Drago, speaks with Aegean News

about the acquisition of the U.S. East Coast

bunkering business of Hess Corporation and the

opportunities this move represents for Aegean.

Sal Drago

* Colonial Pipeline Co. is an interstate common carrier of petroleum products. Colonial delivers gasoline, diesel fuel, jet fuel and other refined petroleum products to customers located across the Southern and Eastern United States.


from Aegean. We have already started to take advantage of a number of natural synergies between the groups and can easily see how being part of a larger bunkering organization will enhance and expand our ability to reach a much larger customer base. Under the Aegean umbrella, we are focused on continuing to expand our port locations in the region to take advantage of our supply and blending capabilities.

Tell us about yourself please, your background in the bun-kering industry, and how you look forward to this new part-nership with Aegean.I have been fortunate to have been around the bunker in-dustry most of my working life.

I started in the business in 1990 working for Texaco's Marine Marketing group where I was a bunker sales coor-dinator covering the U.S. east Coast and Panama. This gave me a strong foundation in the business and I soon started to get more interested in supply and blending economics and with that background helped to develop a hedging program. I was then sent to the Texaco London office where I worked on the trading desk in support of various bunker locations, including Falmouth and Gibraltar. Next came a two-year assignment in Singapore to run the Asian region and help develop their trading business. This assignment lasted six years and after seeing the company through its merger with Chevron, I returned to New York as Global head of trading for ChevronTexaco. I was fortunate enough to move to Hess where I realized the potential to expand the fuel oil trading team and start a bunkering business. I am very excited to help build the Aegean Bunkering team with what I believe to be one of the best (and most efficient) teams in the industry.

Please tell us about the cooperation between Aegean and Vane Brothers.The new Aegean team is proud to introduce Vane Brothers to the family. Over the last nine years we have grown our bunkering business on the U.S. east coast with the support of Vane Brothers.

We quickly recognized during our early years that devel-oping a strategic alliance with Vane Brothers as our prima-ry bunker fuel delivery agent would provide our customers with safe and expeditious service on every bunker delivery we make throughout the bunker network. We look forward to continuing and enhancing our relationship with Vane as we further grow our business in the region.

About the Vane Brothers Company The Vane Brothers Company is a barging company operating

out of the ports of New York, Philadelphia, Baltimore,

Norfolk, and Charleston with a fleet of 30 tugs and 45

barges, two 140,000 barrel articulated tug and barge units

(AT/B), and two launches. The company provides a wide

range of maritime services including bunkering, launch

services, and inspection of safety equipment, covering

the entire Eastern Seaboard. The Vane Brothers’ Fleet

is equipped with state-of-the-art technology to safely

transport petroleum products along the Eastern Seaboard

and beyond and is fully committed to a cleaner environment

through prevention, preparedness and response.

From left: Tom Gaither of Vane Brothers; Chris Roberts, Spyros Fokas, Dimitris Melissanidis and Georgia Kounelaki of Aegean; Vane Brothers Chairman Duff Hughes, Apostolos Rizakos of Aegean, Rick Iulluichi and Don Glenn of Vane Brothers


What is the role of the Ministry of Shipping and the Aegean?The Ministry of Shipping and the Aegean plays a particu-larly crucial role in the national economy because it regu-lates a field that generates huge revenues and jobs in our country. Greek shipping holds a leading role, representing 15.56% of world shipping and 41.7% of European shipping, and we rank in sixth place worldwide in tonnage and in second place in the EU.

Meanwhile, the Greek merchant fleet flying the Greek Flag counts 1551 ships, of which 458 are tankers and 258 are cargo ships. Moreover, Greek shipowners control 23.55% of the total EU capac-ity and 17.20% of cargo ships. The Greek fleet is a uniquely successful, bright example of the Greek economy and this entails us with additional re-sponsibilities. Greek shipping, I could say, is the national capital of our country.

One of the key issues today is the promotion and develop-ment of Greek ports. How will the ports of Greece be differ-ent in the future?To reinforce employment and contribute to the national effort of the country to exit the recession tunnel, ports are being placed at the forefront. Therefore, in addition to the agreement with COSCO to invest in the port of Piraeus, permits and approvals for projects to improve infrastruc-ture are in process throughout the Greek territory.

The rationale is to faithfully serve the ports to be real

growth poles for local communities and the national econ-omy. Our main objective is to develop the capacity of ports that can accommodate either cruisers or yachts. For this reason we have already proposed legislation to the parlia-ment, regarding yachts, from which we expect the market to grow and to attract tourists from other countries.

The Port of Piraeus has seen a huge shift with the presence of COSCO. Please discuss this evolution and what it means for the shipping industry and the Greek economy.

COSCO’s presence is strategic for the interests of our coun-try. Despite the economic crisis that affects world trade, the traffic of merchandise in the Chinese pier in Piraeus has grown dramatically in re-cent years, placing the Greek

port at the heart of European ports. At the same time we expect the approval of the agreement reached with COSCO for new investments in the port of Piraeus.

The new agreement includes an investment of 230 million Euros for the construction and commercial de-velopment of the West Pier III of the container terminal of Piraeus Port Authority SA (PPA), the construction of a petroleum pier on behalf of PPA SA, and the upgrade with new mechanical equipment at Pier II and East Pier III of the container terminal. With the implementation of these projects, namely the installation of Super-super Post Pana-max Cranes, Piraeus port becomes a port-hub serving new generation vessels and we ensure the growth prospects of

The Minister of Shipping and the Aegean, Miltiadis Varvitsiotis, talks to Aegean News about the

priorities of the Ministry for the strengthening and further development of shipping in Greece.

Miltiadis VarvitsiotisMinister of Shipping and the Aegean

I N T E R V I E W

As Greece assumes the Presidency of the Council of the European Union we place great emphasis on the pillar of the sea


the port of Piraeus. Our aim is to make the port of Piraeus the No. 1 Mediterranean port in a few years.

As Greece assumes the EU Presidency, please discuss the priorities of your ministry within this key role for Greece during the first six months of 2014.As Greece assumes the Presidency of the Council of the European Union we place great emphasis on the pillar of the sea. The economy of the sea can generate up to 7,000,000 jobs by 2020 and is a safe way to boost em-ployment in Europe. As a Ministry preserving and en-hancing the competitiveness of European shipping is our main priority, shifting away from the logic of overtaxing, and placing the emphasis on "Blue Growth" as a European strategy, on maritime em-ployment, island policy, port policy and the protection of the marine environment. At the same time, we are very concerned with cross-border cooperation and manage-ment of the growing migration flows through maritime borders. We need a common European response to the issue of illegal immigration.

Sustainability in shipping and commerce is at the forefront of the international agenda. How is the ministry addressing the all-important issue of sustainability—especially as it relates to our seas and oceans?

Trade and shipping is an eminently globalized industry. Therefore, at an international level, the Greek Presidency has set an agenda with proposals for the protection of the marine environment. The agenda includes the promotion of a series of legislation that hinge on the pillar of "Blue Growth" and sustainability of maritime affairs. Specif-ically, we request the support of our partners to adopt the proposed regulation on multi-annual funding for the

European Maritime Safety Agency (EMSA), the adop-tion of the proposals for a directive on maritime spatial planning, and a directive on marine equipment.

How do you view the role of companies such as Aegean in the development of the Greek economy and its emergence as

a stronger player in Europe?The Greek economy traveled a rocky road during the past five years of deep recession and austerity, after the outbreak of the great depression. Society went through some tough times. We suffered, unfortunately, because of a tortuous public sector model that could not be maintained and cre-ates barriers to entrepreneurship. The role of companies such as Aegean and many others that create and invest in our country should be at the forefront in this new era in our country. Private initiative and the private sector will create jobs for the younger generation that is qualified and willing to attempt to restart the country.

Miltiadis Varvitsiotis

The role of companies such as Aegean and many others that create and invest in our country should be at the forefront in this

new era in our country


M A R I T I M E T R A D I T I O N

The Aegean Sea Again at the Forefront The Byzantine Empire typically dates from 306 AD when Constantine the Great moved the capital of the Ro-man Empire from Rome to a Greek city at the Bosporus channel known as Byzantium, later renamed Constantinople.

The rise of Constantinople as the capital of the Byzantine Em-pire, once again raised the Aege-an Sea as a trade crossroads.

Shipbuilding During the Byzantine PeriodFor the creation of the large commercial and military fleet of the Byzantine Empire, the Byzantines used the great naval tradition of ancient Greek and Hellenistic periods. The Byzantine emperors gave priority to the establishment of a large fleet and the creation of new types of ships and innovative weapons, like liquid fire, to impose their domination in the East and West, and the Mediterranean, and also to control international trade.

Byzantine Fleet and Ports In the 4th century AD the ports of Thessaloniki and Constantinople

were established and starting from the 5th century the Byzantines operated an extensive network of harbors along the Golden Horn Canal (Keratios) and the Marmara Sea (Propontis). These harbors that featured robust and modern port facilities played an

important role in the economic, social and cultural life of Byzantium.

The vessels of the Byzantines, light and manouverable, travelled all over the world, protected the islands and the coast from pirates, and carried goods, fish and agricultural products to Constantinople, a city of robust commercial activity and consump-tion. Ships divided into “long” and “round,” terms that meant war and merchant ships respectively. The

Dromon was the main warship, and other vessels known as Helandia and Pamphylia were auxiliary units that transported horses, wheat and jars.

The Byzantine Ship Dromon The pre-eminent warship of the Byz-

antines was the Dromon, a lightweight and agile ship. The dimensions of the Dromon were like those of triremes, which meant that this new ship was 40-50 meters long, seven meters wide and five meters deep. The Dromon was equipped with various kinds of war machinery and the fa-mous “Sifones,” with which the "fire-carrying” Dromons of the 7th century hurled “liquid fire” to enemy ships.

The Dromon was the evolution of Greek biremes and triremes. This war ship had specific mechanisms for “liq-uid fire,” 100 oars (50 per side), three bows with square and triangular sails, a full deck and elevated structures in the bow and stern. Being a bit heavier and larger than trireme, the Dromon sailed mainly with 50 rowers, but also as a sailboat. The crew could be as many as 200 people with 50 rowers and 150 warriors.

The Aegean Sea, and the Origins of Shipping CHAPTER III

Byzantium and Liquid Fire(306 BC - 1453 AD)

Archaeological findings, myths, and the writings of historians suggest that we can trace the

origins of the shipbuilding art to ancient Greece and the Aegean Archipelagos.

The Byzantine Dromon


TsagaradaOverlooking the Aegean Sea, Tsagarada has been blessed with

a rich history and culture. It has played and continues to play

an important role in the educational, commercial and economic

development of eastern Pelion, and has some of the main

tourist attractions in the region today.

Must SeeThe Neighborhoods of Tsagarada The visitor should not miss wandering the streets of the village. Make sure to see the traditional foun-tain with its four spouts that offer locals and foreigners nonstop, crystal clear icy mountain water in the square of Agioi Archangeloi and the square of Agia Paraskevi, with the homon-ymous church that dates back to 1719. The huge tree that shades the entire square is said to be 1,000 years old, and the perimeter of its base reaches 14 meters.

Nanopoulio School Built in 1863 in honor of the benefactor Nicholas Nanopoulos, the Nanopoulio School operated in the early 20th century as a high school. The building now houses the village’s primary school. The stone-made two-storey building is one of the most beautiful in the village.

The Trails of the Centaurs The surrounding area of Tsagarada presents a true labyrinth of cobbled streets and footpaths in all directions for walking, exercise, and exploration and promises pleasant and exciting surprises to the visitors. One of the most beautiful trails of Pelion is the one that connects Tsagarada with Damouhari.

The Traditional Bridge of Mylopotamos The historic bridge of Tsagarada, located at the southern entrance of the village, was built in 1787 over the river Milopotamos.

Zagora A short distance from Tsagarada, visitors can find the historic village of Zago-ra. Make the trip to walk the cobbled streets, visit the picturesque neighborhoods, and see the great mansions, the marble fountains and numerous monuments such as the Greek Museum (the old school of Rigas) with the large library.

Mouresi A few kilometers north of Tsagarada lays Mouresi, a village with lovely rich na-ture and a view to the mountain and the sea. Mouresi has several small lodges, ideal for nature lovers.

T R A V E L W I T H A E G E A N

Aegean stations

The Traditional Bridge of Mylopotamos

Located at 48 kilometers from Volos, Tsagarada is a traditional set-tlement. Built at an altitude of 540 meters, Tsagarada’s 500 perma-nent residents inhabit this large and sparsely populated village that

spreads along the five kilometers of the main road.The residential area extends along the ring road, mainly at the foot of the

mountain and the Mylopotamos, Fakistra, Karavostasia, and Damouhari beaches. Tsagarada consists of four districts: Agia Paraskevi, which is the capital of the village and the Mouresi municipality, as well as Agioi Archan-geloi, St. Stephanos and St. Kyriaki.

The Siren of PelionWith the majority of the village hidden in places of wild, unspoiled beauty, deep canyons and sheer peaks with spectacular views of the dense vegetation behind ridges and slopes, Tsagarada generously offers visitors the beauty of nature, especially in the Winter when it’s dressed in white. Known for its en-viable biodiversity, Tsagarada is located in a forest of towering chestnut trees, beeches, oaks, myrtles, and thousands of other species of the Greek flora.


I Protect the Environment-I Safeguard my Future

By staying informed about what is happening in the world and by passing the information on to others, we are taking a significant step toward the protection of our planet.

CHILDREN AND THE ENVIRONMENT

I BECOME INFORMED - I INFORM OTHERS - I ACT

What is recycling?

Recycling is the process by which we reuse any product of human

activity, directly or indirectly. By recycling, we convert waste into

raw materials from which we produce new goods.

For example, when you drink juice or soda from a can and you

recycle the can, you save energy and other natural resources. The

can will stay in the recycling loop and out of the landfill. You will save

space in the landfill and other resources that are used to produce

new cans from entirely new materials.

Part of the recycling process is the conversion of environmentally

harmful materials into those that are less harmful or not harmful at

all. This way the materials smoothly reintegrate into the natural envi-

ronment, which effectively completes the recycling process naturally.

An example of this is the conversion of domestic sewage into a form

that is less harmful, as opposed to directly dumping it into the sea.

Recycling —Easy as 1 2 3


What does the recycling loop mean?

Have you ever seen this symbol before?

This is the recycling loop. There are other forms of this symbol

but this is the most common form.

The recycling loop describes the entire recycling process. The

three arrows stand for the three steps in the recycling process.

1. The first of these steps is the collection of the recyclable ma-

terials through curbside or other kinds of collection facilities.

Recycling starts when you or your parents drop materials to be

recycled, like bottles and cans, on the curb.

2. The second step is taking the old material and making it into new

products. Collectors come to pick up the materials and take them

to a processing plant where they are sorted and processed into

raw materials (or materials that can be used to make new items.)

3. The third step occurs when you buy products made from mate-

rials taken from products that you would have thrown away. The

materials from the plant are sold to manufacturers, or people

who make the things you buy. These manufacturers make new

items from them. Finally, you or your parents buy items made

from recycled materials, so the process can start all over again.

Why is recycling important?

We really don’t need to worry about what happens to our trash

after we put it in the trashcan, right? Wrong! Think about how much

you toss out each day. If you multiply that by the 6.7 billion people

on our planet... That's a lot of trash! Our landfills can only hold so

much garbage. If we keep producing so much waste, we'll run out

of room!

Here are three good reasons to recycle:

1. Recycling or making new things from recycled ones takes a lot

less money, much less energy, and saves a lot of our planet’s

natural resources, thereby helping the environment.

2. Recycling also saves space in landfills. so Instead of your garbage

being thrown away and taking up space and possibly damaging

the environment it’s better to recycle it.

3. The energy saved by recycling also results in less pollution. When

you make new products from old, but still useful, materials, think

about the natural resources that would otherwise have been

thrown away.

How do we recycle?

You begin to recycle when you separate recyclable materials

from your other trash. Different collection programs collect the

segregated materials.

The government institutes some programs while individuals

or organizations that are concerned about the environment

run others.

What kinds of materials can we recycle?

Ever wonder what materials can be recycled? The most fa-

mous recycled materials are glass, paper, plastic, and aluminum.

But the list is much longer:

• Large household appliances such as refrigerators and washing

machines

• Smaller appliances such as air conditioners and mobile phones

• TVs and audio systems

• Computer hardware

• Power tools and toys

• Medical devices and pharmaceuticals

• Monitoring and control instruments

• Automatic dispensers

• Computers

• Vehicle Exhaust Catalysts

• Food and fertilizers

• Paper

• Plastic

• Aluminum

• Glass

• Car Tires

• Batteries

• Bags

These products can be used to make anything, from playground

equipment to steel skyscrapers to containers containing food and

other household products to bottles for drinking water. The sky is

the limit when you recycle! And as you can see, it’s as easy as 1 2 3.


Aegean and renowned designer Robbi di Kappa have

teamed up to design a brand new look for today! The

Aegean sport line, with its nautical influence, is perfect

for stepping out in style, in the city, by the sea, or on

country walks—for him and for her.

Bundle up or travel light in polos and t-shirts.

At home, relax in luxurious bathrobes.

And stash your gear in versatile and stylish Aegean bags.

Discover the new Aegean look at the Aegean Shop or

online at www.aegeaneshop.com

AEGEANCOLLECTION

Step out in style with the Aegean Collection

Aegean Shop at the Aegean Headquarters—

10 Akti Kondyli, 18545, Piraeus, Greece


Aegean’s websiteswww.aegeanoil.comwww.ampni.com

Aegean Energy for the FutureAegean is Greece's most dynamic energy, petroleum, and shipping group. The company has a network of retail gas stations throughout Greece, is active in marine fuels and lubricants, and operates a fleet of tankers and barges inter-nationally and domestically to transport petroleum and bunkers for its global base of clients.

RETAIL MARKETThrough its fast-growing network of gas stations, Aegean supplies drivers in Greece with gasoline and automotive lubricants. Aegean’s modern, well-maintained gas station network has won the trust of drivers due to the high quality products and services it offers at competitive prices. In addition, Aegean directly supplies large industrial clients with petroleum products of all grades, owing to the consistency and service of its transactions.

BUNKER FLEET NYSE listed Aegean Marine Petroleum Inc., with an exclusively double hull fleet—of which nine ships are newbuild-ings—is the natural supplier of marine fuels at 12 of the most significant ports in the world. Furthermore, with its 22 newbuildings program in progress and the continuous opening of new stations, it is one of the most dynamically developing divisions Of the Aegean Group.

BUNKERING Aegean provides one of the most efficient and responsive bunkering services to clients worldwide. Its ships never stop sailing and its services are available 24 hours a day, 365 days a year. Aegean operates bunkering stations in Piraeus and Patras, and in Gibraltar, Amsterdam-Rotterdam-Antwerp, Fujairah, Jamaica, Singapore, Trinidad & Tobago, Portland UK, Vancouver and Montreal, Mexico, Tangiers, Las Palmas and Tenerife, Panama, Barcelona, Algeciras, Baltimore, Philadelphia, New York, Norfolk, and Charleston. All its products are ISO 8217 certified. The Company, which is a member of IBIA and is ISO 9001 certified, is well posi-tioned on the FOBAS White List.

SHIPPINGAegean's fleet of ships is at the heart of its superior service worldwide. Its ves-sels operate in full compliance with EU and international standards, are all certified with the code of safe management ISM and SOLAS and are in complete compliance with MARPOL regulations. Aegean continually adds to its fleet of ships, which includes large vessels as well as smaller capacity vessels. Its fleet transports oil cargoes worldwide on behalf of major oil companies, commercial clients, and Aegean customers.

LUBRICANTSAegean produces and markets high performance lubricants for vehicles and industrial use under the Aegean brand and, for the marine market, under the ALFA brand. ALFA marine lubricants are certified and approved by the largest marine engine manufacturers in the world.The resources of our company and our follow–up service create our success-ful relationships and allow Aegean to supply lubricants in more than 550 ports worldwide.

ENVIRONMENT-HECThe Hellenic Environmental Center collects, transports and processes oil residues from ships and land units (industrial, shipyards), while it also manages all liquid residues produced by ships. In order to carry out its work HEC has the most state-of-the-art equipment, consisting of floating separators, a fleet of pollutant-collecting tankers, and well-equipped tank trucks.HEC acts to protect the marine environment and at the same time contributes significantly to the saving of energy with the recycling procedures it uses to transform the reclaimed pollutants into energy resources.

TRADINGAegean is dynamically active in the trading of crude oil and petroleum products worldwide. The Trading Department is comprised of dedicated and professional individuals who combine high level expertise and a great many years of experience in the oil industry. Petroleum products are supplied to a broad spectrum of customers who comprise the company's portfolio. Aegean has acquired its credibility from the high quality of the services it provides to suppliers and ship owners, a fact that supports the company’s ambitions for the achievement of long-range goals in the energy sector worldwide.

Aegean News · market as a physical supplier, it paves the way for a future that positions the...

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