Algeciras, Spain Algeciras

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Algeciras, Spain Algeciras,

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Chamber of Commerce Commerce of Chamber ΤΟ ΤΡΙΜΗΝΙΑΙΟ ΠΕΡΙΟΔΙΚΟ ΤΗΣ AEGEAN

President, Athens Athens President, ΚΑΛΟΚΑΙΡΙ 2013

Michalos Michalos

Constantine Constantine

Interview

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Global Aegean Aegean Global Lubricants Η Aegean

σε Εκδηλώσεις Marine Marine της Ναυτιλιακής

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Present at at Present Ναυτιλιακά Aegean Λιπαντικά Το Παγκόσμιο Δίκτυο της Aegean

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Κωνσταντίνος Μίχαλος

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SUMMER 2013 SUMMER και Βιομηχανικού THE QUARTERLY MAGAZINE OF AEGEAN OF MAGAZINE QUARTERLY THE Επιμελητηρίου Αθηνών Aga News Aegean (ΕΒΕΑ) Ακόμη Νέος Σταθμός Aegean Τάσεις & Εξελίξεις Ταξίδια με την Aegean Algeciras, Ισπανία AN42_4Cover.indd 2-3 26/7/2013 10:48:29 πμ Aegean editorial Core Activities Today’s globalized world offers a wealth of opportunity. At the same time, risk and uncertainty are constant companions. The price of oil, or gold, for instance, can fluctuate quickly as international events Retail Æ AEGEAN OIL has established a gas sta- prompt immediate reactions in the markets. tion network throughout Greece, and is Likewise, we are uncertain about future energy one of the fastest growing companies stores. Is peak oil a real concern? Are there, perhaps, in the retail market. AEGEAN’S gasoline untold carbon energy deposits to last us for centuries? market share in Greece is 8%. Will new technologies rapidly take their place along side our current stand- bys? Or replace them? Such uncertainty requires that successful companies hedge their bets—plan Shipping for the best but prepare for the worst. Æ AEGEAN SHIPPING manages a fleet of One of the most valuable characteristics to employ, in order to operate at tankers, ranging from 3,500DWT to optimal levels in such an environment, is strategic foresight—calculated plan- 100,000 DWT, that transfers and delivers ning with a number of scenarios on the table. oil to our clients throughout the world. All Aegean, in its steady expansion, in both Greece and internationally, has made ships meet ISM standards. the habit of looking beyond what today’s headlines report. Aegean understands that oil at 100 dollars requires a different approach than oil at 200 dollars. Environmental protection means being prepared for disaster while cultivat- Bunkering ing best preventive practices. It is clear that in shipping, for example, safer and Æ In Piraeus, Patras, Gibraltar, Amsterdam- stronger will be global requirements, not just regional ones. Rotterdam-Antwerp, Fujairah, Jamaica, Building in flexibility to long-range planning—with multiple scenarios—is Singapore, Trinidad & Tobago, Portland UK, Vancouver, Montreal, Mexico, Tangiers, key to managing risk and uncertainty. Anticipating fragility in the markets, Tema in Ghana, Las Palmas and Tenerife, and building anti-fragile support systems, is not an easy task, nor does one Panama, and Hong Kong, AEGEAN MARINE always get it right. PETROLEUM is a leader in providing the But being cognizant of timing, recognizing opportunity, and, as we have best bunkering services available. AEGEAN said, employing foresight, are powerful practices that can help balance risk and MARINE PETROLEUM is the market leader manage uncertainty—valuable in today’s unpredictable market. in bunkering. Agency Services Æ Ships from around the world rely on AEGE- RAYMOND MATERA AN AGENCY services at Piraeus, Gibraltar, Publisher and Jamaica, from loading and discharg- ing, to spare parts and supplies. Lubricants Æ AEGEAN OIL produces and markets high performance lubricants for vehicles and industrial use, under the AEGEAN brand. AEGEAN MARINE PETROLEUM trades and supplies lubricants for the marine market under the ALFA brand.

SUMMER 2013 AEGEAN NEWS 1

AN42_en_01-32.indd 1 26/7/2013 10:49:01 πμ You're on the move. So are we. Get Aegean News wherever you are.

Aegean News iPad version is now available at the app store. Enhanced with video, more photos, and interactive content!

TIME ANYWHERE

AN42_en_01-32.indd 2 26/7/2013 10:49:02 πμ AEGEAN MARINE PETROLEUM contents

Aegean maintains a strong presence Constantine Michalos, President of the Athens New Aegean Station at 4 at industry events 24 Chamber of Commerce and Industry (ACCI), talks to 14 Algeciras, Spain Aegean News

CODE: 5169 4 AEGEAN UPDATE 22 MARINE LUBRICANTS Summer 2013 Aegean Marine Lubricants Global Network Aegean News is published 10 INTERNATIONAL OUTREACH quarterly by AEGEAN HEC at the 28th IAPH Conference 24 INTERVIEW PUBLISHER & MANAGING EDITOR Raymond Matera Constantine Michalos, President of the Athens ASSISTANT EDITOR Chamber of Commerce and Industry (ACCI) Alexandra Loli 11 2013 ACCI AWARDS DESIGN ACCI awards Aegean Snack 26 ROOTS PRINTING AND BINDING The Antikythera Shipwreck Korifi Publications SA 12 FLOWS AND CURRENTS OWNER Trends and News in the Oil Aegean 10 Akti Konydli and Energy Fields 27 TRAVEL WITH ΑEGEAN 185 45, Piraeus, Greece Lefkada Tel: +30 210 458 6000 Fax: +30 210 458 6241 E-Mail: [email protected] 14 BUNKERING Websites: www.aegeanoil.gr, Aegean at the Port of Algeciras 28 CHILDREN AND THE ENVIRONMENT www.ampni.com The Story of Energy Comments and suggestions Chapter II are welcome. 20 STATIONS OF THE MONTH Aegean News is free of charge and • Thomas Zarchanis and Chris Kalopoulos, is available, subject to availability, to any interested person or organization. Galatsi, Attica 30 AEGEAN COLLECTION • Panagiotis Efstathiou, Glikovrissi, Lakonia Step Out in Style Please Recycle SUMMER 2013 AEGEAN NEWS 3

AN42_en_01-32.indd 3 26/7/2013 10:49:05 πμ AEGEAN UPDATE

Aegean booth view Posidonia Sea Tourism Forum The second Posidonia Sea Tourism Forum took place at the Megaron Spyros Fokas accepts the award from Andreas Andreadis, President of SETE, on behalf of Dimitris Melissanidis Music Hall in Athens on May 28-29, 2013. Aegean was present with a Diamonds of the Greek Piraeus HQ bunkers traders booth at the entrance of the conference hall. Economy 2013 The large exhibition space gave During a Stat Bank annual event entitled Diamonds of the Greek Economy 2013, the orga- Aegean the opportunity to have a nizers awarded healthy, growing businesses in Greece. Representatives of major companies strong presence at this forum, which reported on the actual capabilities of business in Greece and the need for an immediate re- was the ideal marketing platform, start of the economy. Stat Bank set ten strict economic criteria and, based on those, awarded as ports, tourist service providers, technical support companies, new companies that survived the crisis and are able to support the much-needed development of technologies, yacht managers, brokers the Greek economy. and marina representatives attended. The organizers honored Dimitris Melissanidis in a crowded room with over 300 people, in- By exhibiting at the Posidonia Sea cluding presidents, CEOs, and senior executives of major Greek and multinational companies. Tourism Forum, Aegean once more The award was accepted on behalf of Mr. Melissanidis by Mr. Spyros Fokas. The coordinator promoted its business plan and identi- of the event said: "Mr. Melissanidis never ceases to amaze us. After a spectacular course fied potential partners. that drove him, according to Lloyds, to be among the 100 most important people of world The conference consisted of special- shipping, he made yet another important move. He participated in the consortium that took ized sessions on cruising, yachting over OPAP, thus linking his company to the attempt to restart Greek business life. Andreas and coastal shipping. The subjects Andreadis, president of SETE, will deliver this award to Mr. Fokas who will accept on behalf of of discussion were industry develop- Mr. Melissanidis. We then invite him to take the stage." ment and growth strategies in the East Mediterranean, European cruise market growth and demand for the region, port privatization, cruise marketing and sales, and prospects for new market development and regional Logging On backyard markets. Customers and associates The 2013 Posidonia Sea Tourism may log on at: Forum was a unique platform for new www.aegeanoil.com investment opportunities, meeting the Customers and associates of Aegean leaders of this industry, and demon- Marine Petroleum may log on at: strating Aegean's' excellent bunkering www.ampni.com service in the yachting sector.

4 AEGEAN NEWS SUMMER 2013

AN42_en_01-32.indd 4 26/7/2013 10:49:14 πμ Ship-Shore Fire and Rescue Exercise on Aegean Breeze I in the Harbor of Patras

Collaborating parties after fire-rescue drill M/T Aegean Breeze I during exercise in the Port of Patras On April 16, 2013 a joint fire and res- developing in the ship’s compartment. the necessary assistance and enabling cue drill was carried out with the par- In the exercise, all parties were noti- them to enter the affected confined ticipation of the Harbor Master of the fied immediately. They mobilized and space to successfully rescue the sea- Port of Patras, the Shore Fire Squad, reached the moored vessel within ten farer. The planning and coordination the local agent, and the M/T Aegean minutes. The shipboard Fire Squad, of the well-organized teams resulted in Breeze I crew, while the vessel was which was already informed, prepared a successful execution of the combina- alongside. The scenario involved a fire safe means of access, by both sea and tion exercise, proving that staff from in the galley, resulting in one seafarer shore, to the waterborne and land- different sectors can effectively coordi- being injured, and a subsequent fire based teams respectively, providing nate in a common rescue operation.

Aegean NWE NV Supports Νew Aegean Local Football Youth Team Employees In the spirit of "healthy mind in a The following employees have joined the healthy body," Aegean has always Aegean work force. supported sports. Aegean NWE AEGEAN BUNKERING SERVICES NV is proud to be the shirt-sponsor Konstantinos Nikolaou of the local Under 8 ST-JOB youth AEGEAN OIL Christos Thymis team in an effort to support local Christos Zigras

Striker Quinten Collard in action community activities since 2012. MELCO PETROLEUM This team is one of the youth Vasilios Skiadas teams of KFC ST-JOB (Belgian 4th AEGEAN MANAGEMENT SERVICES division) and they had a superb Eleni Orphanidi 2012-2013 season. They won two tournaments and only lost four games during the local competition. The new Aegean outfit gave them Group photo with 1st Division player Hernan Losada that little extra to succeed big!

SUMMER 2013 AEGEAN NEWS 5

AN42_en_01-32.indd 5 26/7/2013 10:49:18 πμ AEGEAN UPDATE

Aegean and HEC at NOR Shipping

Aegean booth HEC booth

NOR Shipping Exhibition is one 15,000 visitors and outperformed all eral. Without a doubt, they achieved of the world’s largest international previous years. their goal, as both stands were im- shipping exhibitions and takes place Aegean and Hellenic Environmental pressive. The exceptional presence of every two years. This year it opened Center were the only Greek compa- representatives of the two companies its doors for the 24th time in Lill- nies attending the four-day exhibi- attracted great interest. Nearly the estrom, Norway on June 4, 2013. The tion, with respective stands. As sole entire body of the conference’s visitors event proved highly successful as at- representatives of their sector from visited Aegean and HEC’s booths, and tendance was huge, with 1,037 com- Greece, Aegean and HEC undertook reviews were positive, making the two panies from around the world. Ac- the responsibility to not only showcase companies worthy ambassadors of cording to estimates, traffic exceeded themselves, but Greek shipping in gen- Greek shipping.

Rania Atmatzidou - Agiostratitis, John Agiostratitis, Christos Deyiannis, Amanda Milner (Commercial Sales Manager of Tollef Schiander (NOR - Shipping Exhibition Director), Portland Harbor Authority), Peter Arey (General Manager of Portland Harbor Authority) Rania Atmatzidou - Agiostratitis

6 AEGEAN NEWS SUMMER 2013

AN42_en_01-32.indd 6 26/7/2013 10:49:24 πμ Tournament participants Blue Shipping Summit Committee Michalis Psaromichalakis Petroleum Third Blue Shipping Summit Tournament The 3rd annual international Blue Shipping Summit took place on June 11, 2013 at Hotel 2013 Apollon Divani Pallas in Kavouri, Attiki. Established in 2011, the Blue Shipping Summit aims to develop shipping in conjunction The petroleum tournament took place on May 24 - June 7, 2013 with sev- with the protection of the environment, since shipping activities are known potential eral industry companies competing at sources of pollution. the Philothei tennis club. Aegean won More than 150 delegates, government officials, representatives of international shipping, in the following categories: bankers, shipbuilders, environmentalists, lawyers, journalists, and other members of the 1. Tennis men's doubles 2nd place international shipping community, attended this year's meeting, representing many different (P. Katsivardelos / C. Ziglis) countries with shipping activity. 2. Ping - Pong 2nd place During the meeting the participants exchanged views about all modern and urgent maritime D. Panagopoulos and environmental issues that are vital for the future of the shipping industry and the emer- 3. Ping - Pong 3rd place gence from the on-going shipping sector crisis. G. Kyrmpeis HEC Director of Research and Development, Michalis Psaromichalakis, attended the meet- 4. Ping - Pong 4th place ing as one of the keynote speakers. HEC’s presence was resounding and impressive, as A. Liapis participants had nothing but favorable comments to make and the organizers invited HEC to Aegean, Avin, BP, Chevron, Coral, participate in next year’s forum. EKO, Greek Petroleum, Greek Fuels Elinoil, Jetoil, Revoil, and Petrogaz took part in the tournament. We thank all our colleagues who par- Training of Aegean Personnel ticipated in the tournament, worthily representing our company. We con- in the Use of Fire Extinguishing Equipment gratulate them and wish that Aegean always comes back a winner!

G. Ziglis and P. Katsivardelos

Aegean employees learning fire extinguishing techniques On June 3, 2013 all personnel at Aegean’s facilities participated in a scheduled training in the use of portable fire extinguishing equipment. The trainers informed the staff in detail of the categories of fire, depending on the fuel source, and the type of extinguishing agent suitable for the suppression of the fire, depending on each type. Then, each employee practiced to extinguish a controlled fire outbreak, so that they familiarize themselves with fire situations and extinguishing agents.

SUMMER 2013 AEGEAN NEWS 7

AN42_en_01-32.indd 7 26/7/2013 10:49:31 πμ AEGEAN UPDATE

HEC in Malta

Maria Damanaki, European Commissioner for Maritime Conference room view Conference participants Affairs and Fisheries On May 21-22, 2013 Malta hosted a conference in honor of Euro- on the environment. Given the importance of that event and the pean Maritime Day, which is celebrated annually on May 20. The key personalities who attended, Euroshore (International Trade As- conference took place in Valletta under the auspices of the European sociation of port reception facility providers in Europe and beyond) Union (Marine Division) and the relevant Ministries of Malta. organized its Annual General Meeting alongside this Congress, also HEC was present with Research and Development Director Mich- in Valletta. alis Psaromichalakis and Commercial Development Director Christos The dominant theme of the General Assembly concerned the revision Deyiannis. of the European 2000/59 RC Directive on the institutional frame- Maria Damanaki, European Commissioner for Maritime Affairs and work of Reception Facilities in European ports. Fisheries, delivered the keynote speech. The central theme of the Mr. Psaromichalakis and Mr. Deyiannis also represented HEC at the conference was the development of marine tourism and its impacts General Assembly.

Self-Operated Stations by Aegean Through its subsidiary, Temeteron ing Director of Aegean Oil Antonis Ltd., Aegean Oil manages the gas Papadakis, Aegean’s main business is stations on the Athens-Thessaloniki oriented toward cooperation with gas highway at Almyros, Volos and on the station operators, who manage a total Athens-Kalamata highway in Arfara. of 500 service stations. Moreover, the company self-manages Aegean’s decision to operate a small five stations (four in Athens and one number of stations as CO-CO busi- in Alexandroupolis) and in July Ae- nesses (Company Owned - Company gean will have begun self-operating Operated), will boost cash flow and

two more stations in Attica. will contribute to the implementation Aegean service station by the Athens-Thessaloniki highway In addition, Aegean, in the context of trade policy in specific geographi- at Almyros of strategic cooperation with Mari- cal areas and in no way interferes with nopoulos, took over management the main policy to manage its stations of eight additional service stations. via partner station operators. These stations are located in the The entire Aegean service network is area of the Carrefour-Marinopoulos known for its smart and clean appear- supermarkets in Athens (Piraeus ance and the courtesy of its employ- street at Neo Faliro), Agrinio, Argos, ees, and its main objective remains to Drama, Ioannina, Katerini, Larissa, offer services under the highest qual- and Trikala. ity standards, as Aegean originally According to the Deputy Manag- established and implemented. Aegean service station at Carrefour on Pireos Street

8 AEGEAN NEWS SUMMER 2013

AN42_en_01-32.indd 8 26/7/2013 10:49:39 πμ Aegean at the 34th International Bunker Conference The 34th International Bunker Confer- ence took place on April 24-26, 2013 at the Clarion Post Hotel in Gothenburg, Sweden. BI Norwegian Business School organized the event. It is the world's longest running and most respected bunker conference and has remained a proactive forum for more than a generation since its introduction in 1979. Piraeus HQ Bunker Traders Anna- Maria Karakasi and Hara Fikiri repre- Bunker Traders Hara Fikiri and Anna-Maria Karakasi sented Aegean. IBC takes place every year in Norway or Sweden and focuses on the rapid changes of the industry. This year's topic was: Compliance—Smooth Sailing or Costly Confusion? More than 150 participants, mostly from North European countries, joined the event. The panels consisted of physical suppliers, bunker traders and brokers, surveyors, lawyers, and shipping companies. There were interesting discussions about LNG road map-emerging bunkering infrastructure developments, the new sulphur legislation, and a number of environmental issues. Aegean’s presence at IBC indicates the company's belief that such meetings provide a good opportunity for the main players of the industry to gain know-how and expertise from shipping community professionals.

Aegean Oil gas station in Loutraki during Rally Acropolis Voluntary Blood Drive at Aspropyrgos Rally Acropolis For yet another year the Rally Acropolis organizer chose Panagiotis Thodis’ service station in Loutraki to be the official off-base supply point. This comes as no surprise. During the previous event, visitors and groups left the service station with the best of impressions due to Aegean personnel donating blood the quality of service, and above all, the A scheduled voluntary blood drive took place at Aegean facilities in Aspropyrgos in great attitude of the staff. Therefore, early summer to support the company’s blood bank. Each phial of blood is valuable for a after last year's successful three days fellow human being and so the motto was: We do not donate our blood- just 10 minutes of WRC (World Rally Championship), the of our time. organizing authority renewed their con- The following Aegean employees voluntarily donated blood: Christos Vassilopoulos, fidence in the Aegean Oil service sta- George Gakis, Kostas Glikos, George Ziglis, Efstratios Kakalis, Fotis Kalamaras, tion and its people, who have performed Panagiotis Kalogeropoulos, Panagiotis Kolympiris, Damianos Minieos, Kyriakos their duty successfully and profession- Bountzikas, Antonis Pavlakis, Konstantinos Floudopoulos, Miltiades Eleftherakos, ally for another year. Kantarelis Konstantinos, and Papladakis George. Aegean organized the successful blood drive in collaboration with the Greek Red Cross.

SUMMER 2013 AEGEAN NEWS 9

AN42_en_01-32.indd 9 26/7/2013 10:49:40 πμ INTERNATIONAL OUTREACH HEC at the 28th IAPH Conference

HEC was present at the 28th IAPH conference in Los Angeles as an official sponsor.

n 1955 the city of Los Angeles hosted the first World Congress on Iports. 34 ports from 14 countries participated and IAPH was established. Today, 200 ports and 150 companies and institutions from 90 countries participate in IAPH, a nonprofit international association. With headquarters in Tokyo, IAPTH is the only voice express- ing ports worldwide, as it is recognized by the UN as an official consultant in the field of maritime cooperation. On May 6-10, 2013, 58 years after IAPH’s introduction, Geraldine Knatz, president of IAPH and Execu- tive Director of the Port of Los Ange- Michalis Psaromichalakis, Gerarldine Knatz and John Agiostratitis les, had the responsibility to organize the most successful conference, in the same city where it was originally established, completing her presidential tenure in the best way possible. More than 200 ports attended the 28th IAPH Conference, while more than 500 delegates examined the full range of topics on the responsibilities of world shipping. The conference was comprised of four working sessions that gave participants the chance to learn about the latest developments in the global shipping industry, its impact on the The opening of the conference environment and the safety of ports, ports with a presence in the working the 28th IAPH conference successful, and to promote international coop- sessions and with an exhibition booth, as it opened new channels for expan- eration between ports. which became a point of reference for sion abroad and demonstrated that HEC was an official sponsor and both exhibitors and delegates for its Greek creativity, combined with per- participated with a three-member del- discreet yet substantial contribution sistent effort, is the best ambassador of egation. HEC was the only represen- to the objectives of the conference. our country internationally and the tative of waste reception facilities in HEC considers its participation at way to successful development.

10 AEGEAN NEWS SUMMER 2013

AN42_en_01-32.indd 10 26/7/2013 10:49:45 πμ ACCI AWARDS 2013

Dimitris Melissanidis Mr. Melissanidis receiving his award from Prime Minister Antonis Samaras, in the presence of Constantine Michalos ACCI Αwards Aegean

The 16th annual Athens Chamber of Commerce and Industry (ACCI) award ceremony took place at the Megaron Athens Concert Hall on June 12, 2013. ACCI awarded businesses and entrepreneurs who demonstrated remarkable business practices during this past year.

epresentatives from the po- his letter to Aegean founder, Dimitris become the largest independent fuel litical and business world Melissanidis. supplier in the world. Mr. Melissani- Rwere present at the ceremony. During his speech at the ACCI dis emphasized the importance of Prime Minister Antonis Samaras ad- award ceremony, Mr. Melissanidis creating an appropriate business envi- dressed the businessmen, and Devel- said that this distinction rewards him ronment in Greece that will encour- opment Minister Kostis Hadzidakis for the last 18 years and his efforts on age domestic and foreign investors, presented the awards. Aegean Marine both a personal and corporate level, and that all Greek businesspeople, Petroleum was honored with the and the hard work and continuous currently investing in foreign markets, award for Export Activity and Inter- investments in international markets, wish to also invest in Greece to assist national Presence. "This distinction in a sector dominated by large multi- the country’s efforts for development. is a recognition and reward for your national companies and fierce compe- Finally, Mr. Melissanidis thanked all activities in the business arena, but tition. He also said that despite the Aegean personnel, who contributed also serves as an example for creating adverse conditions, Aegean, a Greek to this success, and dedicated the new business initiatives," said ACCI multinational company fueled by prize to Greek young people, advising president, Constantine Michalos, in Greek soul and pride, has managed to them to stay in Greece.

Mr. Michalos and Minister Hatzidakis with the award winners

AN42_en_01-32.indd 11 26/7/2013 10:49:51 πμ FLOWS AND CURRENTS

Greece to Benefit from TAP In a highly anticipated decision, the Shah Deniz II consortium opted for the pipeline through Greece and Albania to transport natural gas from Azerbaijan to Europe, instead of the northwestern route through Bulgaria and Austria. The Trans Adriatic Pipeline (TAP), with a total length of 870 km, will World Ocean Day enter Europe through the Turkish border. Moving west, the pipeline is In 2008 the United Nations General Assembly designated June 8 as World planned to extend across northern Oceans Day. This year, World Ocean Day focused on ocean conservation. There Greece before heading northwest were special activities for individuals in various regions around the world. The oceans power our climate and are a critical part of the biosphere and are to Albania. From there, the pipeline therefore essential to safety and survival of all life on planet earth. World Oceans will extend under the Adriatic Sea to Day is an opportunity to raise global awareness of the current challenges the southern Italy. international community faces in connection with the oceans. The TAP pipeline will connect with the Protecting the ocean requires cooperation at many levels. In the U.S., the Trans-Anatolian Pipeline (TANAP), recently released National Ocean Policy aims to protect and strengthen the (to be completed in 2018), which will oceans’ health and security. The National Ocean Policy Implementation Plan initially carry 16 billion cubic meters streamlines government efforts to provide better data about ocean conditions, of Azeri gas through Turkey to the protection for marine habitats, and more. For this purpose, the U.S. cooperates Greek border. with other nations. Analysts estimate that this decision In that spirit of ocean conservation, representatives of the European Union, gives Greece and Albania an economic the United States, and Canada signed the Galway Statement on Atlantic Ocean and geostrategic thrust and allows Cooperation at the Ireland Marine Institute on May 24, 2013. By signing this Azerbaijan, rich in energy reserves, to agreement, these nations agreed to join forces in the field of Atlantic Ocean play a greater role in power distribu- Research. The goal is to better understand the Atlantic Ocean and promote the tion networks in the Balkans. sustainable management of its resources through better cooperation of ocean observation efforts.

Greece Second in the World in Tonnage Greece came in at second place worldwide der of the top-ten list include Germany, recently ordered eleven new vessels at an es- in ship tonnage with 118.1 million tons, China, the US, the UK, Norway, South Ko- timated price of $390.5 million, according to according to CNN’s extensive report on rea, Denmark, and Hong-Kong. International Shipbroking Company Golden the international shipping industry and its According to other reports Greek shipown- Destiny. Regarding second-hand vessels, progress. Japan is in first place with total ers are continuing to invest in newbuildings. Greek shipowners are in the market for the capacity of 132 million tons. The remain- More specifically, Greek shipowners have purchase of six vessels, mainly bulk carriers.

12 AEGEAN NEWS SUMMER 2013

AN42_en_01-32.indd 12 26/7/2013 10:49:54 πμ Shipping of the Future, Today Global Safety is paramount for huge car- Shipping Trends go vessels that carry millions of liters of oil, thousands of shipping through 2015 containers, or tens of thousands The financial crisis of 2008-2009 of tons of coal or steel. These greatly affected the global shipping ships must comply with safety industry. Since 2010 there are signs standards that require time-con- of recovery and shipping is expected suming inspections by surveyors, to grow further as the world economy who in turn risk their own safety improves and new opportunities arise. by climbing inside massive cargo At this point, the trends impacting the areas and on scaffolding con- global shipping industry are mainly the structed around ships. high cyclicality of the industry, indus- MINOAS Robot MINOAS (Marine INspection rO- botic Assistant System) is an EU-funded research project that has developed a fleet of try fragmentation, fleet management, remote-controlled robots that crawl through cargo ships and help save time and money and and cost management. Industry tech- improve the accuracy and quality of on-board inspections. This project promises to make nology and safety and the impact of ships safer while also extending their life at sea. shipping on the environment are also The robots are equipped with robotic arms, cameras and magnetic wheels, and can roll up key aspects. and down the high, steep walls of ships, looking for defects on the massive steel plates and The Chinese shipping industry is one of measuring their thickness with ultrasound. The robots are two-wheeled, battery-powered, the fastest growing shipping markets in equipped with a miniature video camera, two motors and a handle-shaped elastic tail, and the world and investors are optimistic can also conduct inspection in teams, making inspections not only safer, but also quicker of strong long-term growth of the over- by climbing walls at a half-meter per second and transmitting videos and images to human all Asia Pacific shipping industry. inspectors carrying handheld receivers. They are controlled from a central station using virtual The global shipping industry has also reality techniques, and have the ability to take pictures, videos and measurements without the seen many changes in recent years, need for human inspectors to go inside the hold or climb up scaffolding. especially in terms of technology, MINOAS, which is one of a kind, cost a little less than three million Euros. The EU contributed and with increasing industrialization about two thirds of that amount. Participating countries were Italy (Coordinator), Germany, the importance of seaborne trade has Greece, Spain, United Kingdom, and Bulgaria. increased. This project best demonstrates how uniting specialists from a variety of different industries throughout Europe can lead to innovation, increase competitiveness, cut costs, improve workplace safety and lower environmental risks. MINOAS has received great interest at technology expos, and the project team expects the robots to reach the commercial market in the foreseeable future.

10th Greek Shipping and Ship Finance Conference 2013 The 10th Greek Shipping and Ship Finance Conference in the shipping business, the best investment opportuni- 2013 took place on May 30-31, 2013. Supported by Lloyd's ties, the secrets for competing throughout the shipping List, this conference is one of the most important confer- cycle, the latest challenges, and what the short term future ences in Greek shipping and ship finance, as it features the holdss for the key shipping sectors. The participants also participation of leading players in the industry and explore had the opportunity to discuss whether Far Eastern fi- the latest developments. nance matters for Greek owners and how quickly Asian This year’s event provided attendees with far-reaching banks are going to fill the gap left by the departure of some insights on important issues such as the position of banks traditional lenders.

SUMMER 2013 AEGEAN NEWS 13

AN42_en_01-32.indd 13 26/7/2013 10:49:56 πμ BUNKERING

Aegean at the Port of Algeciras

14 AEGEAN NEWS SUMMER 2013

AN42_en_01-32.indd 14 26/7/2013 10:49:56 πμ Algeciras at a Glance

Coordinates 36°7'39"N 5°27'14"W Country Spain Autonomous community Andalusia Province Cadiz΄ Comarca Campo de Gibraltar Judicial district Algeciras Founded Pre-Roman Government Alcalde ordinario (Spanish municipal magistrate) José Ignacio Landaluce Calleja (2011) Area Municipality 86 km2 Elevation 20 m Population (2012) Municipality 116,917 Metro 263,739 Density 1,400/km2 Time zone CET (UTC+1) Postal code 11200-11209 Official language Spanish Official website http://www.algeciras.es/principal.php

Aegean is expanding its global marine fuel supply network by establishing operations in the Port of Algeciras in Spain.

The port of Algeciras

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AN42_en_01-32.indd 15 26/7/2013 10:49:58 πμ BUNKERING

The port of Algeciras

Aegean at Algeciras Bay Aegean Marine Petroleum Network Inc. is set to expand its global marine fuel Aegean’s presence in supply network by establishing operations in Algeciras, Spain. The strategic development will utilize existing fleet capacity and further expand presence in western the Port of Algeciras Bay Mediterranean region. will further enhance the This move is an exciting opportunity for Aegean, as it is strategically expanding its presence in the Western Mediterranean by entering this rapidly growing port. company’s ability to serve Aegean’s presence in Port of Algeciras Bay will further enhance its ability to serve its customers in this fast- customers in this fast-growing region, while also allowing Aegean to utilize its built-in fleet capacity and storage capabilities. growing region, while also Over the past several years, Aegean has continued to execute its strategy of op- allowing Aegean to utilize portunistically entering and exiting markets as appropriate to strengthen its com- its built-in fleet capacity petitive positioning, and this development is perfectly aligned with this operating philosophy. Aegean is taking decisive actions to diversify its geographic presence. and storage capabilities. Aegean continues to deliver on the promise of the Aegean model and this event is yet another milestone illustrating its dynamic progress.

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AN42_en_01-32.indd 16 26/7/2013 10:49:59 πμ Algeciras Algeciras, Bahίa de Algeciras in Spanish, a port city in the south of Spain, is the largest city on the Bay of Gibraltar. It is situated 20 kilomters northeast of Tarifa on the Rίo de la Miel, the southernmost river of the Iberian Peninsula and continental Europe. With a population of 116,917 people, it is the biggest city in the area. The current name of Algeciras comes from the Arab period of the Iberian Penin- sula; Al-Jazira Al-Khadri' means “Green Island” in Arabic. Algeciras is principally a transport hub and an industrial city. Its principal activities are connected with the port, which serves as the main embarkation point between Spain and Tangier and other ports in Morocco, the Canary Islands, and the Spanish enclaves of Ceuta and Melilla. The city also has a substantial fishing industry and exports a range of agricultural products from the surrounding area, including cereals, tobacco and farm animals. In recent years Algeciras has become a significant tourist destination, with popu- lar day trips to Tarifa to see bird migra- tions; to Gibraltar to see the territory's sights and culture; and to the Bay of Gi- braltar to see whales.

The city of Algeciras

SUMMER 2013 AEGEAN NEWS 17

AN42_en_01-32.indd 17 26/7/2013 10:50:01 πμ BUNKERING

Piers in the port of Algeciras Bay

The Port’s History stayed on the banks of the sea repopu- the Port and the Bay of Algeciras were In ancient times maritime shipping lated Algeciras. In the new distribu- the passenger traffic in the Straits and focused on Carteia, which was aban- tion of the bay, a port facility was not fishing. Then, in 1964 an industrial doned in the Middle Ages. During the created until 1894, when a wooden complex was built, which lead to the Muslim presence on the Iberian Pen- jetty was created at the mouth of the industrial takeoff of the area. insula, Algeciras became the point for Río de la Miel. crossing the Strait of Gibraltar. In the Unlike other major European The Modern Port of Algeciras Reconquista the border area became ports, the present port of Algeciras The Port of Algeciras is in the prov- the Moorish Kingdom of Granada, Bay is a young and dynamic port with ince of Cádiz in the autonomous which caused it to be destroyed and little more than a century of history. community of Andalusia. It is a com- abandoned in 1379. The population In these 100 years, the development mercial, fishing, and passenger port then concentrated in Gibraltar. With of the port facilities and its constant and consists of numerous maritime the conquest of Gibraltar in 1704, the growth in traffic made it the leader of infrastructures scattered throughout population fled and was distributed the Spanish port system and one of the the Bay of Gibraltar. Although only mainly along the bay. Several settle- main ports in the European Union. the town of Algeciras and La Linea de ments were established; those that Until the 1960s, the main activities of la Concepción overlook the bay, there

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AN42_en_01-32.indd 18 26/7/2013 10:50:08 πμ The Port Authority of Algeciras Bay (APBA) APBA manages and administers the ports of Algeciras and Tarifa. The Port of Algeciras Bay offers an ample variety of harbor services and an experi- enced port community, and has a great variety of specialized facilities for all kinds of traffic and goods (liquid bulks, solid bulks, passengers, vehicles, cruises, fish, sport). This variety, along with its privileged situation and its wide connection network with the main ports of the world, has turned it into an international reference.

are port facilities in the rest of the Europe, and the Americas, the Port is • The configuration of the Bay of bank, also belonging to the munici- ranked as the 7th busiest container port Algeciras that provides magnificent palities of San Roque and Los Barrios. in the continent of Europe and the 16th shelter and natural draught condi- At present, the Port of Algeciras busiest port in the world. In 2010 it tions Bay is Spain’s largest and a strategic exceeded 70 million tons in total traffic • Its geostrategic location port in international trade and in the and more than 2.8 million containers, • The improvement of the road in- transit between the Mediterranean and and nearly 26,000 vessel calls in 2012. frastructure linking the port with the Atlantic. On the crossroads of the Bunkering volumes in the Port have its natural, primary and secondary world´s main cargo shipping lanes, the grown more than 80 percent during hinterland Port is a West Mediterranean hub for the past ten years, with total through- The Port of Algeciras is constantly container transshipment. The port con- put up more than 68 percent and total growing. The increase in surface and tains more than 10 kilometers of quays ship calls up more than 32 percent dur- operational capacity, its new logistic in different basins, which manage all ing the same period. zones and the improvements in ac- types of passenger and freight traffic. The total number of calls has in- cess accommodate for the increasing With its central location in shipping creased in the Port Bay of Algeciras traffic and the incorporation of new routes, linking West Africa, Asia, North for the following reasons: operators.

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AN42_en_01-32.indd 19 26/7/2013 10:50:10 πμ STATIONS OF THE MONTH Steady Improvement with Hard Work Thomas Zarchanis and Chris Kalopoulos, Galatsi, Attica

Galatsi is a municipality in the northern suburbs of Athens, which unfolds at the foot of Tourkovounia Hill, four kilometers from the center of Athens. With a total area of four square kilometers, Galatsi is a very green area and at the same time one of the most densely populated municipalities in Attica.

we have gained their trust. As far as bringing costs down, we managed to get our rent reduced.

How is business now? Like all sectors, we are now going through a crisis. When gasoline prices drop, the number of our customers increase.

How is your relationship with customers? The response has always been excellent.

What do you think of Aegean? Prices are good in general, within reason. Neither too expensive nor too cheap. We would like to see fuel prices be reduced, in order to increase

The Aegean service station of Mr. Zarchanis and Mr. Kalopoulos our profit.

homas Zarchanis and his col- ing with Aegean and we just carried on. What is your impression of your coop- league Christos Kalopoulos eration with Aegean? Did you ever have Town an Aegean service station How were things when you first started a customer complain? centrally situated in the Municipality operating your own station? Was it the There has never been a customer of Galatsi on St. Glykerias Street. way you had expected? complaint. Neither did we ever have At first no. We had expected a lot a problem and our collaboration with How long have you been in the fuel busi- more costumers and we had too many Aegean was flawless from the begin- ness Mr. Zarchanis? expenses. Within two years we man- ning. We collaborate mainly with our I have been in the fuel business for 23 aged to improve a lot. inspector, Mr. Vangelis Bardis, and years. I was a clerk at three other gas our cooperation is very good. stations before starting my own busi- How did you do that? ness almost two years ago. First of all, we are now open for busi- What are your plans for the future? ness 24 hours a day. It wasn’t like We would like to start distributing heat- When did your cooperation with Aegean that in the past. We are very careful ing oil. But at this time customer inter- start? and professional in all our dealings est for heating oil is low. Perhaps in the The previous owner was already work- with our custumers and that is why future, if heating oil prices decrease.

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AN42_en_01-32.indd 20 26/7/2013 10:50:13 πμ Staying Strong Despite the Difficulties of our Times Panagiotis Efstathiou, Glikovrissi, Lakonia

Lakonia is the southernmost prefecture of the Peloponnese and mainland Greece, bordering the Aegean Sea, the Messinian Gulf, and the Gulf of Lakonia.

he gas station of Mr. Efsta- thiou is located one kilometer Tfrom the village Glikovrissi in Lakonia, on the main road to Elia.

How many years have you been running your own gas station Mr. Efstathiou? Ι have been working in this field for 17 years, since May of 1995. I have had my own gas station all these years.

Do you have any help at your gas station? I have three sons and we all work together. This gas station is a family affair!

Have you been with Aegean from the beginning? No, we have been working with Ae- gean for the last six years. We signed our second contract about a year and The service station of Mr. Efstathiou a half ago. prices. It's not that Aegean specifically to and our business suffers as a result. is expensive. It is just that people do We try to attract more customers by Why did you choose Aegean? not have money and competition in bringing prices down. The motorist For better better prices and a better the area is tough. It is a combination of always checks the sign with the prices collaboration. fuel pricing in general and the financial first! Many people who are not from crisis. We have an open line of commu- the area drive by and as soon as we How is your communication with Ae- nication with the Aegean inspector in lower the prices, we immediately no- gean? Are you happy with your coopera- Lakonia and we tell him our problems. tice more cars coming through. tion so far? But times are tough for everyone. The fuel quality is consistently good Would you like to share with us your and we do not have any problems with Overall how is the situation today and plans for the future? our customers. Aegean is prompt with what is the response of your customers? We plan to preform a programed up- their deliveries and we have no com- Without a doubt the economic crisis grade on our fuel tank equipment plaints with our cooperation. Our only has affected our business. People do within the next year. We always strive complaint, if you can call it that, is gas not use their car as much as they used for the best.

SUMMER 2013 AEGEAN NEWS 21

AN42_en_01-32.indd 21 26/7/2013 10:50:16 πμ MARINE LUBRICANTS

AEGEAN PRODUCTION CENTERS & WAREHOUSES SUPPLY LOCATIONS

The Aegean Global Marine Lubricants The Aegean global marine lubricants network continues to Network grow, both at a technical and a commercial level. PAUL IOANNIDIS | GLOBAL MANAGER, MARINE LUBRICANTS

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AN42_en_01-32.indd 22 26/7/2013 10:50:18 πμ tent of fuel oil, with a constant pressure to decrease the percentage of sulfur and its application areas (SECAs), the pressure for mandatory use of environ- mentally acceptable lubricants (EALs) in all applications aboard where there is an oil-sea interface, slow steaming and ultra slow steaming to save fuel, which poses a particular challenge for producers of lubricants due to the increased need of proper lubrication of machines, and the use, or not, of the mid-range BN cylinder oils. Aegean is a member of the Interna- tional Council on Combustion Engines (CIMAC) and also works directly with a leading manufacturer of chemical additives to simultaneously monitor, adopt technological developments, and invest in field tests for certification of new products, such as the new line of Alfamar GII lubricants (TPEOS derived from Group II base oils) and the new Alfacylo 580 S cylinder oil (with an advanced formula and BN 80, which is specialized for slow steaming). At a commercial level, our company recently announced its collaboration with SK Lubricants, a producer of base oils and lubricants, for the production and supply of ships (Aegean number of oil companies are and so almost all suppliers sold their customers) at all ports and shipyards trying to operate as physical standard range of products. in South Korea. Asuppliers within Any technical developments and South Korea is a major market the global market for marine lubri- variations in products that might worldwide for its marine lubricants cants. In the past, multinational com- have emerged happened because of as, apart from many transit ships, panies dominated this market, mainly the suppliers’ commercial strategies, there are hundreds of newbuildings in because of the need for certified lubri- rather than market requirements. local yards. cants and an international production At the same time, SKL, which wants and supply network. A New Era to enter the international market, will Aegean entered the market in 2007 But now there is a downpour of new use Aegean’s network of marine lubri- and now plays a leading role as an developments. cants to supply its customers, thereby international independent lubricants There are several challenging fac- enhancing our production volumes. physical supplier, certified by major tors that require constant monitoring We believe that the fact that this marine engines manufacturers (MAN and investment for any marine lubri- Korean “giant” trusts Aegean testifies D&T, Wartsila). cants supplier, who wants to stay atop to the quality of products and services In terms of new technology, there internationally. Such factors are the of Aegean around the world and that have been no developments for many strict environmental regulations at an the two companies will join in a very years in the marine lubricants market international level for the sulfur con- successful partnership.

SUMMER 2013 AEGEAN NEWS 23

AN42_en_01-32.indd 23 26/7/2013 10:50:21 πμ INTERVIEW

Constantine Michalos President of the Athens Chamber of Commerce and Industry (ACCI)

Constantine Michalos talks to Aegean News about the history of the Athens Chamber of Commerce and Industry and its contribution to the economic recovery of the country.

What is the role of the Athens Chamber of Commerce and In- for a path of recovery in the foreseeable future. A number dustry (ACCI)? of other developments, such as the recent TAP gas pipeline The ACCI is the largest Chamber in Greece, representing agreement, have equally beneficial effects. more than 100,000 businesses. Its mission is to represent However, the major problem of recession persists for the and support the companies with an integrated set of ser- sixth consecutive year. The return of the Greek economy vices and actions, in regard to information through inves- to positive GDP growth is a vital challenge, which clearly tigation and market research, advisory support, openness requires a more flexible stance on the part of our partners, and international networking, education and training. It and further acceleration of structural reforms on the part also undertakes initiatives to highlight the idea of entrepre- of the Greek government. neurship by rewarding entrepreneurial excellence, promote corporate social responsibility, and foster entrepreneurial culture to the new generation. The ACCI also works as a consultant to the govern- Shipping and trade will be crucial in the ment on issues of trade, industry and services, and general development policy. The central aim of our proposals and coming years for Greece. The emergence of interventions is to ensure a fertile environment that favors Greece as a gateway for Asian products in the development of private initiative, competitiveness, an outward-looking mentality and new investments. European markets is a major challenge.

How do you view the current state of the Greek economy, which has been at the center of global attention for quite Please tell us your perspective on the global economy following some time? four years of a challenging environment. Indeed the Greek economy has been at the center of world The situation in the global economy has certainly stabi- attention in recent years. And it is encouraging that, after lized in the four years after the 2008 crisis. Of course, I all this time, it begins again—even with small steps—to would say that the pace of recovery varies greatly from produce positive news and comments. region to region. Economies that were based on relatively Eliminating the risk of exiting from the common cur- stable grounds before the crisis, such as those in Scandina- rency, the substantial decline in the current account bal- via or some large emerging economies, quickly returned to ance, and the completion of the recapitalization of the a positive trajectory. Recovery appears to be faster in coun- banking system are developments that are helping to stabi- tries such as the U.S., where there were serious imbalances lize the economy of our country and create the conditions but the measures were direct and decisive.

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AN42_en_01-32.indd 24 26/7/2013 10:50:22 πμ In contrast, in the Eurozone recovery is still tenuous and uncertain. And this is due not only to the pre-existing structural problems of the common currency, but also to the inadequate and shortsighted political management of the crisis. The dogmatic commitment to fis- cal discipline and harsh austerity, the inadequate policies to enhance liquidity and the irresponsible games with bank credit—such as in the case of Cyprus—did not do anything to help restore confidence and stimulate economic activity. And of course, the practice of looking for culprits and enemies destroyed the cohesion of the Euro- zone and further weakened the outlook for bold political decisions and solutions. The fact that during the past year we averted the risk of dividing the Eurozone certainly helped to stabilize the situation, but did not convince the markets. Under these cir- cumstances, I would say that the Eurozone is in danger, not only to remain trapped in slow growth, but also to become a burden on the global economy.

Looking to the future, you are optimistic that markets will improve? I believe that improving the economic climate will be a key driving force in developing markets which, despite slowing down in recent years, maintain a positive momen- Constantine Michalos tum. If there is proper management to avoid risks such as excessive leveraging and pricing, especially in some Shipping and trade will be crucial in the coming years rapidly developing economies of Asia, the outlook will for Greece. The emergence of Greece as a gateway for continue to be positive. Manipulation by the U.S. in mat- Asian products in European markets is a major challenge. ters of financial and legal policy, as well as moves to boost The example of COSCO’s successful investment in the the economy of Japan, will also affect market sentiment. Port of Piraeus, which led to a tripling of container volume Turning to Europe, I would say that I cannot be optimistic, within three years, and recent agreements with companies if there’s no political will in the right direction. That is, such as Hewlett Packard, show prospects for this sector. toward a stronger economic and monetary integration, Equally important perspectives are the exploration and faster banking union, and the removal of sterile austerity development of hydrocarbons in marine areas in western and structural reforms. and southern Greece.

Global trade relies on global shipping. Are you confident trade Companies such as Aegean contribute significantly to the will sustain the global shipping industry in the near future? economy of Greece. Please say a few words about how Aegean 90% of world trade relies on maritime transport. Of course, boosts the local economy as it expands globally. as is true for trade and any other outward-looking sector, Aegean is an outward-looking company with a strong pres- the shipping market is influenced by wider developments, ence in international markets, and with activities that gen- economic and beyond. The crisis of recent years has led to erate high added value. It has gained a high level of experi- a contraction of international trade and reduction of cargo ence, expertise, and prestige in the shipping field and is loads, in combination with excess capacity, which clearly expected to have a key role in the regeneration of the Greek had an impact on the industry. But I believe that in the next economy. I am confident that in the next few years Aegean few years the volume of freight will increase, as a result of can play a leading role in our country's effort to simultane- globalization, the dispersion of the production chain, and ously tap into its crucial geographical position and its long the increase in demand in developing markets. maritime tradition.

SUMMER 2013 AEGEAN NEWS 25

AN42_en_01-32.indd 25 26/7/2013 10:50:22 πμ ROOTS The Antikythera Shipwreck

Thousands of years after going down, the Antikythera Shipwreck reveals its secrets, its treasures, and the mysterious Antikythera Mechanism.

marble statues, glassware, bronze vessels and golden jewelry, among others items. Some of the ship’s treasures still lie on the bottom of the ocean, in levels of the ship that are out of reach. The study of these artifacts provides information about the potential ancient buyers and the art of trade in its novel form in general. It helps us understand the circulation of Greek works of art at the end of the Hellenis- tic period and the Roman Republic in the light of the commercial exchanges and the taste of the rising Roman The three main fragments of the Antikythera Mechanism on display at the Bronze Collection of the National Archaeological Museum. aristocracy. There’s no answer to the questions of where the ship began its s with many shipwrecks, there The Ship journey and where it was heading. have been numerous attempts The remains of the ship and its cargo Ato recover the remains of the show that the vessel was a freighter The Mechanism vessel. The adventure of underwater (ὀλκὰς in ancient Greek, navis oneraria Perhaps the most precious of all the archaeology further continues today in Latin), with an estimated capacity of discoveries onboard the shipwreck is as experts proceed with restorations 300 tons. Objects used by the people on an exquisite, unique device of mathe- and reveal the ship’s treasures. The board, such as vases and games, offer a matical and astronomical genius, the Antikythera Shipwreck dates back picture of the habits and life of shipmen Antikythera Mechanism. Scholars, to sometime between the fourth and during their voyage. An exhibit at the historians, mathematicians and as- the first century BC and is an object National Archaeological Museum in tronomers have expressed their desire of great interest to scholars and re- Athens offers visitors the chance to see to study the Mechanism itself, and the searchers alike. Looking into its cargo, fragments from the hull of the ship and drawings, radiographs, tomographies, we discover the existence of art trade its external lead sheathing with a num- digital assimilations, and models, ac- in ancient times. There is, moreover, ber of other accessories, such as tubes companied by interpretations by an ongoing study of the Antikythera for water drainage. scholars, during the past century. This Mechanism that offers surprises, device, called the first computer, is poses questions, and reveals new an- Voyage and Cargo comprised of 82 fragments, all of swers about ancient technology and Archeological findings reveal that which survived, and has generated astronomy. the freighter transported bronze and worldwide interest.

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AN42_en_01-32.indd 26 26/7/2013 10:50:29 πμ TRAVEL WITH AEGEAN

Lefkada

A feast of colors, sounds and aromas, Lefkada is a favorite among the Ionian Islands for Greeks and foreigners alike. A real-life Garden of Eden, Lefkada has an endless 117-kilometer Must See Lefkada Town A buzzing multi-culti center coastline, beautiful and diverse inland landscape, and countless with numerous cafes, shops, restaurants, and secrets for the visitor to discover in every corner. tavernas, the town of Lefkada offers a magnificent view of the Ionian Sea and a taste of the delicious local cuisine and has something Lefkada for everyone. Aghios Nikitas The small village gives its efkada is at the center of the Ionian Islands, off the western coast name to an exclusive small beach with clear, of Greece, between Corfu and Cephalonia. The island is connected crystal waters. On the left, avid swimmers to the mainland by a long causeway and floating bridge, making it can reach Ammoudoula beach and the Foko- L trypa cave. easily accessible all year round. At 356 square kilometers, it is the fourth Porto Katsiki The famous Porto Katsiki has largest island of the archipelago, with a population of 23,000. Situated in received worldwide recognition as one of the the middle of the island, the majestic Mount Stavrota is the highest point of most stunning beaches in the world. The strip the island, standing at 1,158 meters above sea level. of pure white sand at the foot of a towering white rock that appears on what seems to be “As you set out for… Lefkada?” half the posters promoting Greek tourism is a Lefkada is mentioned in numerous ancient myths linking the island to the true must-see. poet Sappho, to Aphrodite, the Greek goddess of love and to Homer's Od- Egremni Spread on two kilometers of white ysseus. Many even believe that Homer’s Ithaca is in fact the island of sand and surrounded by impressive cliffs, Egremni beach is one of the best of the Medi- Lefkada, and that the infamous palace of Odysseus was located west of Ny- terranean. The transparent, aquamarine, pris- dri on the south coast of Lefkada. tine waters, visible at the top of the 350-step steep walkway, will surely motivate all visitors to attempt the walk down. Gyra For avid hikers there is the very pleas- ant stroll from the town of Lefkada and round the Gyra lagoon. The hike is seven kilometers long and is a great attraction for nature lovers because of all the indigenous species of birds Aegean Stations in Lefkada and flora around the lagoon. EFSTRATIOS GAZIS Lefkada Waterfalls The Dimosari Waterfalls MEGALO AVLAKI, LEFKADA offer an alternative to the beaches of Lefkada. Visitors enjoy a revitalizing swim in the cold- CHRISTOFOROS PASCHALAKIS water pools created by the water steams that GREEK NATIONAL ROAD (LEFKADA-NIDRI), descend off the mountain, and relax in the PERIVOLIA, LEFKADA view of the lush green forest that surrounds the waterfalls. Aegean stations

SUMMER 2013 AEGEAN NEWS 27

AN42_en_01-32.indd 27 26/7/2013 10:50:30 πμ CHILDREN AND THE ENVIRONMENT

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. The Story of Energy CHAPTER II

Energy is the ability to do work or cause The Concept of Kinetic Energy change. It causes things to happen around us. During the day we use energy from the sun, When you travel on your bicycle and you try to stop suddenly, you can’t. It known as solar energy, and at night we most- will actually take a few seconds before you stop completely. Do you know why? ly use electrical energy to light our homes. When you are in a moving car, or a train, or a bus, it is very dangerous to step out Gasoline, a type of stored energy, powers suddenly, unless you are at a complete stop. Do you know why? In both cases, cars. Our bodies get energy from the food we the answer is kinetic energy. eat. But where does energy come from? No matter what form energy is in, we cannot create it from nothing, nor destroy it. Energy is around us all the time and occurs in many forms, including chemical energy, thermal energy, electromagnetic radiation, gravitational energy, electric energy, elastic energy, and nuclear energy. These can be categorized in two main classes: potential energy and kinetic energy. This is the story of kinetic energy.

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AN42_en_01-32.indd 28 26/7/2013 10:50:32 πμ I BECOME INFORMED - I INFORM OTHERS - I ACT

Potential Energy vs. Kinetic Energy

When you lift a heavy object you exert energy, which will later become kinetic energy when the object is dropped. Let’s use the roller coaster at the adventure park as an example. The lift motor of the roller coaster exerts potential energy when lifting the train to the top of the hill. The higher the train is lifted, the more potential energy is produced. At the top of the hill the train has a huge amount of potential energy, but very little kinetic energy. As the train accelerates down the hill the potential energy is converted into kinetic energy. There is very little potential energy at the bottom of the hill, but there is a great amount of kinetic energy. Remember: the sum of kinetic and potential energy in the system remains constant, ignoring losses to friction.

2 Kinetic Energy - Ek = ½mv

The word kinetic is derived from Greek word κίνησις (kinesis) meaning to move, so kinetic energy in physics is the energy an object possesses due to its motion or movement; it is the energy of motion. It is defined as the work needed to accelerate a body of a given mass from rest to its stated velocity. The faster a body moves the more kinetic energy it produced. The greater the mass and speed of an object the more kinetic energy there will be. Having gained this energy during its acceleration, the body maintains this kinetic energy unless its speed changes. The same amount of work is done by the body in decelerating from its current speed to a state of rest. These bodies or objects can be very large things, like planets, and very small ones, like atoms. The heavier a thing is and the faster it moves, the more kinetic energy it has.

There are many forms of kinetic energy: • Vibrational - the energy due to vibrational motion • Rotational - the energy due to rotational motion • Translational - the energy due to motion from one location to another

To sum up, let’s focus on translational kinetic energy. A car’s kinetic energy (Ek) depends on two variables: the mass (m) of the object and the speed (v) of the object. So what physics basically teaches us is that if a car and a truck are speeding, one next to the other, the truck needs more time and distance to stop, because the truck is heavier than the car.

2 Ek = ½mv does not look that complicated any more, does it?

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AN42_en_01-32.indd 29 26/7/2013 10:50:33 πμ 30 AEGEAN NEWS SUMMER 2013

AN42_en_01-32.indd 30 26/7/2013 10:50:33 πμ AEGEAN COLLECTION Step out in style with the Aegean Collection

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

Aegean Shop at the Aegean Headquarters— 10 Akti Kondyli, 18545, Piraeus, Greece

SUMMER 2013 AEGEAN NEWS 31

AN42_en_01-32.indd 31 26/7/2013 10:50:44 πμ Aegean Energy for the Future Aegean 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 internationally and domestically to transport petroleum and bunkers for its global base of clients. RETAIL MARKET Through 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 newbuildings—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, Tema in Ghana, Las Palmas and Tenerife, Panama, ang Hong Kong. All its products are ISO 8217 certified. The Company, which is a member of IBIA and is ISO 9001 certified, is well positioned on the FOBAS White List. SHIPPING Aegean's fleet of ships is at the heart of its superior service worldwide. Its vessels 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. LUBRICANTS Aegean 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 successful relationships and allow Aegean to supply lubricants in more than 550 ports worldwide. ENVIRONMENT-HEC The 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, consist- ing 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. TRADING Aegean 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’s websites www.aegeanoil.com www.ampni.com 32 AEGEAN NEWS SUMMER 2013

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