The Fastest Growing Company in the Greek Petroleum Market

Aegean News THE QUARTERLY MAGAZINE OF AEGEAN SUMMER 2017

HEC Sponsor of Greece’s Largest Environmental Conference in 2017

Interview Antonis Papadakis Deputy Managing Director, Aegean Oil SA

Aegean Shipping Supports Efforts of the University of the Aegean Aegean Oil The Fastest Growing Plus Company in the Greek Flows and Currents Travel with Aegean Petroleum Market

Aegean editorial Core Activities Nothing in life is just chance—least of all success. In July this year, Aegean Oil placed second in Greece’s Retail Most Admired Companies 2017 list, compiled by For- AEGEAN OIL has established a gas station tune magazine in collaboration with KPMG. Achieving network throughout Greece, and is one of the fastest growing companies in the retail such a high ranking is particularly praiseworthy for a market. AEGEAN’S gasoline market share in company that only started operating in 1999 and which Greece is 8%. has, in just 18 years, secured a leading position in the market, surpassing multinational oil giants in the industry. Shipping AEGEAN SHIPPING manages a fleet of tank- Through hard work, enthusiasm, and passion, Aegean Oil has successfully ers, ranging from 28.610 to 50,926 DWT, introduced a brand new image, philosophy, and service spirit to the Greek re- that transfers and delivers oil to our clients throughout the world. All ships meet ISM tail fuel market. Thanks to meticulous business planning and a high degree of standards. The Company’s new GreenFleet flexibility and adaptability that allows the company to react quickly to chang- (http://www.greenfleet.gr) incorporates the latest technologies to ensure reduced ing—and often challenging—domestic market conditions, Aegean Oil has operating costs and reduced emissions, grown and evolved into a leader in its industry, with a network of more than while increasing overall performance. All 700 gas stations throughout Greece. ships are certified by ISM, ISPS and MLC as well as with ISO 9001, 14001, 18001 and The hundreds of thousands of customers who choose Aegean Oil’s stations 50001. AEGEAN SHIPPING is additionally every day bear witness to the innovative approaches the company has intro- certified with ISO 22301. duced through its stations and the tangible ways in which it has redefined the gas station business in the country. Aegean’s customer-centric philosophy is Bunkering AEGEAN MARINE PETROLEUM is a leader in founded on respect for the customer and a determination to provide excellent providing the best bunkering services avail- service and high-quality products at competitive prices. able in Piraeus, Patras, Gibraltar, Amster- dam-Rotterdam-Antwerp, Fujairah, Jamaica, Aegean Oil operates on a basis of respect for its people, its customers and Singapore, Trinidad & Tobago, Vancouver, of course its staff, without whose contribution, it would not be the leading Montreal, Mexico, Tanger Med (Morocco), company it is today. Operating as a large family, Aegean stands by its staff, pro- Canary Islands, Baltimore, Philadelphia, New York, Norfolk, Charleston, Los Angeles and viding ongoing training to ensure that they are one of the most adept and pro- Long Beach, Hamburg, the Gulf of Mexico, fessional teams in the industry and supporting them at every step of the way St. Petersburg, South Africa and Brazil. AE- GEAN MARINE PETROLEUM is the market in the daily implementation of its original vision, proudly delivering excellence leader in bunkering. for both the company and its customers. There is so much more that could be said about Aegean Oil, a company that Agency Services has come so far and achieved so much. But enough with words. After all, it is Ships from around the world rely on AEGE- AN AGENCY services at Piraeus, Gibraltar, through actions that Aegean has built its solid foundations and continues to Fujairah, and Jamaica, from loading and rise ever higher—and the number of satisfied customers keeps growing. discharging, to spare parts and supplies. Lubricants AEGEAN OIL produces and markets high performance lubricants for vehicles and industrial use, under the AEGEAN brand. ALEXANDRA LOLI Publisher AEGEAN MARINE PETROLEUM trades and supplies lubricants for the marine market under the ALFA brand.

SUMMER 2017 AEGEAN NEWS 1 C

CMY K 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 AEGEAN MARINE PETROLEUM contents

CM th MY The Aegean Oil brand has rapidly HEC supported the 5 International Conference Deputy Managing Director Antonis evolved into one of the most popular on Sustainable Solid Waste Management as a Papadakis spoke to Aegean News CY 16 10 24 in the country, securing a leading platinum sponsor. about the company and the Greek

CMY position among oil companies. petroleum market. K You're on the move. So are we. CODE: 5169 Get Aegean News wherever you are. Summer 2017 4 AEGEAN UPDATE 16 RETAIL Aegean Oil—The Fastest Growing Company Aegean News is published in the Greek Petroleum Market quarterly by AEGEAN 10 HELLENIC ENVIRONMENTAL PUBLISHER & MANAGING EDITOR Alexandra Loli CENTER 24 THE AEGEAN INTERVIEW CONTRIBUTING EDITOR • HEC: Platinum Sponsor Antonis Papadakis, Deputy Managing Director T.C. Lowrie of Greece’s Largest Environmental DESIGN of Aegean Oil SA Aegean News iPad version White Design Conference of 2017 PRINTING AND BINDING • The University of Piraeus is now available at the app store. Korifi Publications SA Visits Oil One 26 STATIONS OF THE MONTH OWNER • Konstantinos Xagoraris, Emporio, Thira • WFOSX Delegates Visit Oil One Enhanced with video, more photos, Aegean • Maria Tsiatsiari, Nea Bafra, Serres 10 Akti Konydli and interactive content! 185 45, Piraeus, Greece Tel: +30 210 458 6000 12 SHIPPING Fax: +30 210 458 6241 28 MARITIME TRADITION E-Mail: [email protected] The University of the Aegean Tops League The Historic Trireme Olympias Websites: www.aegeanoil.gr, Table—Aegean Shipping Supports Efforts www.ampni.com of Country’s Top University Comments and suggestions 29 TRAVEL WITH ΑEGEAN are welcome. Arta Aegean News is free of charge and is available, subject to availability, to 14 FLOWS AND CURRENTS any interested person or organization. Trends and News in the Oil and 30 CHILDREN AND THE ENVIRONMENT Energy Fields Mediterranean Monk Seal Please Recycle TIME SUMMER 2017 AEGEAN NEWS 3 ANYWHERE AEGEAN UPDATE

Aegean’s M/T Lefkas supplies the Queen Elizabeth Aegean Supplies Queen Elizabeth at Port Elizabeth The Port of Savannah in the U.S. state of Georgia On April 17, Aegean Marine Petroleum’s M/T Lefkas supplied the New Aegean Service Center Queen Elizabeth, a Vista-class cruise ship operated by Cunard Line, at Port in Savannah, GA Elizabeth. The Queen Elizabeth is the On July 1, 2017, Aegean launched its second largest ship constructed for newest service center in Savannah, GA Cunard and is capable of carrying up on America’s East Coast. Savannah is the to 2,092 passengers. third largest container port in the United Aegean has been operating in South States. Under the terms of the agreement Africa since 2016, with three double hull bunker barges—M/T Lefkas, M/T with Colonial Terminals, Inc., Aegean will Leros and M/T Tilos—and a 70,000 lease tankage from Colonial's terminal on dwt mother vessel, M/T Umnenga. the Savannah River. Aegean will acquire Vessels are supplied either at anchor- and blend a full range of bunker fuel prod- age or in port (Port Elizabeth and ucts and has agreed to supply Colonial Oil Coega Port). Industries, Inc. with a range of No. 6 oil products for Colonial's truck delivery business. Aege- Marine Fuel RMG 380 and Marine an has contracted with the Vane Brothers Company to provide barge services in the port. The Gasoil (MGO 0.1) is available at ISO Savannah market is well positioned to take advantage of the larger ships transiting through 8217 standards. Operations run on a the Panama Canal. According to the Georgia Ports Authority, the ports handled 350,104 24/7 basis. TEU’s in May 2017, an 11.68% increase on 2016.

Expression of Solidarity from the Holy Metropolis of Niκea and Aegean Every summer, Metropolitan Alexios of the Holy Metropolis of Nikea opens the doors of the Metropolis’ summer camp in Stephani, Voiotia and hosts 1,200 children from disadvantaged families who are unable to afford a holiday. The children have the opportunity to get away for a few days, rest, and enjoy deli- cious and nutritious food.

Antonis Pavlakis and Soumela Fotiadou of Aegean’s Human Responding to Metropolitan Alexios’ request, Aegean showed great consider- Resources Department ation for the children, donating quantities of food items to the program.

4 AEGEAN NEWS SUMMER 2017 Robert Emmiyan, Dimitris Melissanidis, Sergey Bubka, and Panagiotis Dimakos The group of thirty Aegean service station owners, managers, and employees who participated in the customer service seminar Customer Service Seminar Sergey Bubka and As part of Aegean’s training program, a Robert Emmiyan seminar titled Quality Customer Service Visit Aegean was held at the company’s headquarters On May 26, 2017, sports legends in Piraeus. Sergey Bubka and Robert Emmiyan A total of thirty service stations owners visited Aegean’s headquarters in and employees from across Attica attend- Piraeus. The pair had a friendly meet- ed the seminar. ing with Dimitris Melissanidis, with True to its customer-centric policy, Aege- whom they exchanged views on con- an is committed to organizing seminars temporary sports. and training activities that aim to ensure absolute customer satisfaction.

In Memoriam

It is with deep regret that the Aegean family bids farewell to an invaluable partner and friend, Raymond Matera. Raymond served as publisher and editor-in-chief of Aegean News for many years. He was also responsible for Aegean News for iPad and the content of the Aegean website. Throughout the course of our collaboration, he graced us with his broad knowledge, insightfulness, and innovative views. Aegean wholeheartedly expresses our condolences to his family.

Rest in Peace, Ray.

SUMMER 2017 AEGEAN NEWS 5 AEGEAN UPDATE

D. Georgoulis, Director of the Installation, and P. Bouros Pantelis Bouros Retires Villa Lo Zerbino On May 9, 2017, Melco's staff hon- The Genoa Shipping Week Dinner ored Pantelis Bouros, engineer of the The Genoa Shipping Week Dinner is Aspropyrgos facility, who left due to one of the major global events in the retirement. The distinguished col- shipping, logistics, and port sectors, league was presented with a commem- and this year marked its 14th edition. orative plaque in recognition of 30 Every two years, the event attracts the years of contribution to the facility. whole shipping world to Genoa, the capital of Italian shipping, for an entire week, giving key players and managers in the industry—shipowners, shipmanagers, shipagents, forwarding Marco Narizzano, Shipbroker, Bravo Tankers; agents, lawyers, insurance brokers, New Laura D' Amato, President & Director, D' Amato UK; and Dimitris Koutsoukos (Chartering Manager, Aegean) traders, terminal operators, port ser- Employees vice providers, bankers, charterers, and The following employees have joined the naval providers—the opportunity to meet each other. Aegean work force. Conferences and seminars (such as Med Security Summit – ‘Future Chal- AEGEAN SHIPPING MANAGEMENT lenges and Latest Innovations for Maritime and Port Security’ and Port & Eleni Vasiliadi Shipping Tech – ‘Innovation and Cooperation for the Development of the AEGEAN BUNKERING SERVICES Euro-Mediterranean Maritime Cluster’) were held throughout the week. Adamantia Kollia Individual Genoese shipping companies also hosted many side events and HELLENIC ENVIRONMENTAL CENTER dinners during the course of the week. The Bravo Tankers’ reception (which Magdalini Tsoktenoglou was held at Villa Lo Zerbino) was notable due to its outstanding location and Panagiota Sinioraki number of participants. Konstantinos Xenos Ekaterini Tsaknaki The highpoint of the week was the Shipbrokers and Shipagents Dinner, organized by the Young Group of the Genoa Association of Shipbrokers and Agents OIL ONE th Ioannis Stamoulis this year for the 14 time on June 30 at the Jean Nouvel Pavilion, Fiera di Fotis Simeoforidis Genova. Its previous edition attracted approximately 3,000 participants. Dimi- tris Koutsoukos, Chartering Manager, represented Aegean.

6 AEGEAN NEWS SUMMER 2017 Aegean News for iPad in Top 5 Globally Did you know that the Aegean News iPad edition app is an award-winning digital application? Did you know that it is among the Top 5 magazines in its category on the App Store? Globally? That’s right. Our company magazine Youtalkingtome with rider Dimitris Drosos dressed in yellow and black has been recognized as one of the best of its kind—and among the most Dimitris Melissanidis' Horse popular in the world. Download the Aegean News for iPad Wins the Greek Derby app today, and share it with your col- The three-year-old Youtalkingtome, owned by leagues and friends around the world. Dimitris Melissanidis, won first place at the 71st Greek Derby on July 5, 2017, with a time of 2' 35'' 54 over a distance of 2,400 meters. The horse’s coach was Irene Keratsa and the rider Dimitris Drosos. Ms. Keratsa is the first female Day of the coach in the 92-year history of the Greek Derby Seafarer 2017 to receive this distinction. Both the horse and In celebration of the annual Day of the Sea- Dimitris Melissanidis with Deputy Minister of Culture and the rider were dressed in yellow and black—the Sports Mr. Giorgos Vasiliadis colors of AEK. The winner led the race from the farer, on June 25, four representatives of get go, planned the race correctly, and successfully warded off his opponents in the final the Maritime Authority of Jamaica visited stretch. A prize of 30,000 Euros was awarded to the horse’s owner. Aegean’s M/T Kalymnos and M/T Kefalo- Organized by OPAP S.A. and Ippodromies S.A., the 71st Greek Derby was a great success, nia on June 26. This gesture was made in attracting celebrities from the fields of sports and entertainment, big sponsors, leading busi- recognition of the unique contribution of nessmen, and politicians, but also many families, who came to the track to enjoy the races seafarers across the globe to international and have a fun day out. seaborne trade, the global economy, and society in general. Small mementos, tokens Dimitris Drosos with coach Irene Keratsa and her husband, Dinos Georgiou of appreciation, were given to the Masters and all crewmembers of both ships by the MAJ representatives. The crewmembers received the tokens with heartfelt gratitude and honor.

Representatives of Jamaica's Maritime Authorities with crew members

SUMMER 2017 AEGEAN NEWS 7 AEGEAN UPDATE

Aegean Staff Training at Hyundai in South Korea

Aegean Bunkering Services Superin- were built in Qingdao-Hyundai from tendent Engineers Ioannis Christia- 2008 to 2011. nos, Panagiotis Koutsoukos, Nikolaos Our colleagues had the opportunity Ringos, and Antonios Tomais attend- to take a guided tour of HHI’s Ma- ed a week-long training course in chinery Division and follow the pro- Ulsan, South Korea, at the headquar- duction of a number of engines step ters of the world's largest shipbuilder, by step, from the initial construction Hyundai Heavy Industries (HHI). processes of casting up to the fi- The course included theoretical as nal shop trials. During the course, Representatives of HHI and Aegean engineers at the well as practical aspects on the design, participants were familiarized with company's premises in Ulsan, South Korea operation, and maintenance of the future innovation of the specific en- HHI 9H25/33P diesel engine, which is gine as well as dual-fuel combination installed as main propulsion engine in engines. All Aegean superintendent the sixteen 6,300 MT dwt sister-vessel engineers were certified for success- product tankers which are operated ful completion of the course on HiM- by Aegean Bunkering Services and SEN engines.

Congratulations! To the Aegean Service Station in Larissa

Aegean is proud of its people and is particularly pleased when customers who choose Aegean's service stations experience first-hand the profesionallism and excellent training of our employess. We recently received the following email from an Aegean customer in Larissa:

I would like to congratulate the employees and the manager of the Aegean service station in Larissa. The other day, while traveling to Athens, I forgot my ring (its value isn’t important) in the station’s restroom. I didn’t realize I had forgotten it until a while later, and when I called the station, I was informed that they had found my ring. Everyone was very helpful and polite, and the manager even sent it to me by courier. I’m sure you can appreciate how important ethical behavior is in this day and age. I would find it splendid if you were to somehow reward the station’s staff—after all, they do represent your company! I hope to hear back from you that my request is being considered. Congratulations once again! Staff members from Aegean’s Service Station in Larissa

8 AEGEAN NEWS SUMMER 2017 The Microsoft Office workshop The Aegean blood drive Microsoft Office Seminar Voluntary at Aegean HQ Blood Drive Between March 22 and June 27, 2017, Aegean’s Human Resources and IT Departments, in On June 9, 2017, the 14th voluntary collaboration with Info Lab, organized a Microsoft Office workshop (Word Level 1-3, Excel blood drive was held at Aegean’s Level 1-3, PowerPoint Level 1-3) in a specially designed room on the 8th floor of the compa- facilities in Aspropyrgos, made ny’s headquarters in Piraeus. possible thanks to a Greek Red The majority of employees attended the seminar, which aimed at refreshing their knowledge, Cross mobile blood donation unit. as well as teaching them a range of new useful tools, some of which were not even known to The aim of the blood drive was to experienced users. enhance the company’s blood bank, The teacher was very insightful, and his considerable expertise and the structure of the work- and employee participation was shop made an excellent impression on all employees. high. The colleagues who donat- Antonios Pavlakis, Aegean’s Human Resources Director, said: ed blood are: Fotis Kalamaras, "Education and development are issues of strategic importance to Aegean—as is investing Panagiotis Kalogeropoulos, Athanasios Azaroglou, Panagiotis in our employees, the driving force behind this company. Our goal is to organize long-term Kolympiris, Stavros Tsidimis, company seminars for all our staff, on a yearly basis." Konstantinos Skalas, Angeliki At the end of the seminar, all participants received certificates of attendance. Sotiriadou, Konstantinos The specially designed workshop room on the 8th floor of Aegean’s headquarters in Piraeus Papadakis, Antonios Pavlakis, Angelos Nikas, Nadia Moungolia, Giannis Komninos, Konstantinos Minaios, Dionisis Symeoforidis, Panagiotis Hatzidimitriou, Dionysis Fotinopoulos, Kyriakos Bountzikas, Adil Kara, and Georgios Groutsis.

The Aegean blood drive

SUMMER 2017 AEGEAN NEWS 9 HELLENIC ENVIRONMENTAL CENTER

1 3 4 1. Reception of the conference, sponsored by HEC 2. Prof. A. Zavaniotou, Aristotle University of Thessaloniki, Greece; Prof. L. Limousy, University of Upper Alsace, France; and Prof. A. M. Goula, Aristotle University of Thessaloniki, Greece 3. K. Kandilis, Antipollution SA; H. Mitsiali, Antipollution SA; A. Stamatoglou, Antipollution SA; Prof. Isam Janajreh, Masdar Institute, United Arab Emirates; and Georgia Reppa, Hellenic Environmental Center SA 4. Prof. Celia Dias Ferreira, Polytechnic University of Coimbra, Portugal; and Prof. K. Moustakas, National Technical University of Athens, Greece HEC: Platinum Sponsor of Greece’s Largest Environmental Conference of 2017

The 5th International Conference on Sustainable Solid Waste Management took place in Athens on June 21-24, 2017. HEC, staying true to its principles of promoting knowledge in the context of environmental development, supported the conference as a platinum sponsor.

he conference was organized Europe is universally recognized. research scientists and representatives with the support of the Europe- One of the conference’s main goals of various authorities, industry, and an LIFE program and brought was to strengthen the relationship local and national government. Ttogether academics from all continents. between applied research and indus- Alongside the conference, a work- It focused on pioneering solid waste try. In order to do this, particular shop was organized with the aim of management techniques. The event emphasis was placed on the potential formulating techniques to support was coordinated by NTUA Professor of waste recovery. The conference was industry in its efforts to improve pro- Maria Loizidou, whose contribution a success due to not only the quantity duction performance while simulta- to the development of the cyclical and quality of the delegates but also neously enjoying environmental and economy in our country and across due to the fact that it brought together financial benefits.

10 AEGEAN NEWS SUMMER 2017 WFOSX Delegates Visit The University Oil One of Piraeus

On May 18, 2017, as part of the World Fuel Oil Summit X, which is orga- Visits Oil One nized by Axelrod Energy Projects and gathers the largest companies in the fuel and energy sectors, a number of summit delegates visited the Oil One oil waste treatment facility in Drapetsona for a guided tour. The tour took place on the first day of the conference. After touring the facilities, the main delegates were given a presentation on the pioneering methods of petroleum residue treatment used by the company and the benefits to the environment from the safe management of residues. At the end of the tour, the delegates had the opportunity to exchange views with Oil One representatives on the collection and management of petroleum residues, and enjoyed a light meal. The delegates all gave overwhelmingly positive feedback about the innovative methods employed by Oil One.

WFOSX delegates at the Oil One facility in Drapetsona Students of the University of Piraeus at the Oil One facility in Drapetsona

Following a request by the Head of the Department of Maritime Studies of the University of Piraeus, Dr. Fani Sakellariadou, third-year students from the department visited the cutting edge Oil One oil waste processing plant in Drapetsona. The students and Dr. Fani Sakellariadou were given a guided tour of the facilities and learned about its operation and its contribution towards safeguarding and conserving the marine environment. After completing the guided tour and the Q&A session that followed, the students sat down to a working lunch at the facility’s cafeteria and enjoyed an opportunity to exchange views with members of staff. The students' response and the overall satisfaction with the visit led to a mutual agreement to include this guided tour of the plant as a permanent feature in the department's program, ensuring that all students have the opportunity to visit this internationally cutting- edge port reception facility.

SUMMER 2017 AEGEAN NEWS 11 SHIPPING The University of the Aegean Tops League Table Aegean Shipping Supports Efforts of Country’s Top University PROF. SERAPHIM KAPROS | HEAD OF THE DEPARTMENT OF SHIPPING, TRADE AND TRANSPORT UNIVERSITY OF THE AEGEAN PROF. MARIA LEKAKOU | SCIENTIFIC DIRECTOR OF THE INTERNSHIP PROGRAM, DEPARTMENT OF SHIPPING, TRADE AND TRANSPORT, UNIVERSITY OF THE AEGEAN

According to the external evaluation reports by the Hellenic Quality Assurance and Accreditation Agency, the University of the Aegean achieved the highest score among all Greek universities and was recognized as the best higher education institution in the country. Aegean Shipping Management actively supports the University, and particularly the Department of Shipping, Trade and Transport, through various initiatives, including workshops, educational visits, and lectures, with the ultimate goal of strengthening and deepening the department’s relationship with the shipping industry.

ounded in 1998, the Department of Shipping, Trade Trade provides interdisciplinary resources that equip and Transport (DSTT) has already established itself graduates with the tools to excel in top-tier positions in in academia, in Greece and internationally, and in management, business administration, operation and Fthe labor market. Aiming at offering high-caliber educa- service planning for shipping, and transport and com- tion and pushing the boundaries of knowledge in the field merce, in both the public and private sector. of shipping, transport, and global trade, the department’s Assessment of the program thus far has highlighted a academic programs and research projects take an interdis- number of strengths and has identified areas that can be ciplinary approach, covering a wide range of subjects rele- further improved. Its success and positive evaluation are vant to the shipping industry and transportation systems: attributed primarily to the following strategic choices: management and economy, supply chain, engineering, • Strong links to the shipping industry and its broader ports, production systems, new technologies, IT, finance, activities through the Internship Program law, the environment, and marketing. • Organically combining taught modules and research, The DSTT also runs the oldest postgraduate degree and pushing the boundaries of scientific knowledge program in Shipping in Greece. The program offers a core • International orientation: collaborations with Greek and curriculum plus specialization in the following areas: Ship- foreign universities, and student and faculty exchanges ping Management and Finance; Transport, Supply Chain • The faculty’s strong international track record in re- and Technology; and Maritime Law and Shipping Finance. search and publication The MSc in Shipping in Transport and International Trade • Summer School programs with participating scientists takes 12 months. Starting in 2017-2018, it will follow a re- and researchers from Greece and abroad vised curriculum and teaching methods. • Seminars and lectures by distinguished speakers The MSc in Shipping in Transport and International • Participation in international academic networks, such

12 AEGEAN NEWS SUMMER 2017 as the European TRANSPORTNET network, which in addition to research and teaching partnerships, has also led to a joint PhD program • Participation, in leadership roles, in international scientific organizations (IAME, WCTR, TRB, AET) As a result, the Department of Shipping, Trade and Trans- port has been recognized as a center of excellence and has

The University’s graduation ceremony on the island of Chios earned a number of distinctions. In 2006, the Department was awarded the Lloyd’s List Award for Maritime Innova- tion for developing an original floating desalination unit. The project was awarded four patents at the EU’s RegioStars Awards 2008. At the 2013 Lloyd’s List Greek Shipping Awards, the department also won the Piraeus International Centre Award 2013, in recognition of its contribution to Greek shipping. Furthermore, a 2013 OECD report recognized the island of Chios, and the DSTT in particular, as a leading world city in port-related research, ranking it fourth after Antwerp, Amsterdam, and Hong Kong. The above is complemented by a host of international distinctions and awards given to members of the Department for their research and publications. Irene Panagopoulos, Aegean Shipping Management’s Purchasing Manager and a distin- In the context of its internationalization strategy, the guished fellow of the Department of Shipping of the University of the Aegean, presents Department of Shipping, Trade and Transport has signed a third year student Petros Christakis with an award of 1,000 Euro number of cooperation protocols with prestigious foreign universities with maritime and transport departments. Among these is a protocol with Shanghai Maritime Univer- sity in China, pursuant to which the DSTT in Chios offers a summer program called Current Developments and Market Prospects for Global Shipping Leaders. The department’s most recent cooperation protocol was signed with Canada’s renowned University of British Columbia. This outward orientation is not limited to partnerships with overseas institutions; the DSTT’s long-standing relationships with companies and organizations in the shipping industry also have great importance and impact. A number of companies have links to the department The University of the Aegean through internships, research partnerships, scholarships, and donations. Aegean Shipping Management has a leading role among these: It offers summer internships to DSTT students, helping them gain first-hand experience of the shipping industry. The company also runs a number of initiatives that further bolster the department’s ties to the shipping industry, including workshops, educational visits, and lectures. Furthermore, in December 2015 and Decem- ber 2016, the company awarded scholarships to exceptional undergraduate and postgraduate students, rewarding them for their exceptional academic performance. It is thank to initiatives like these that the Department of

Ms. Panagopoulos presents Sophia Atsali, the top student in the Shipping, Trade and Shipping, Trade and Transport continues its clear sailing, Transport program for the academic year 2015-2016, an award of 2,000 Euro boldly onwards to far and distant ports!

SUMMER 2017 AEGEAN NEWS 13 FLOWS & CURRENTS

Greek Greek Fleet Continues to Grow Shipowners Despite challenging market conditions, Greek shipping continued to grow in 2016 (6.5% in vessel numbers, 10.26% in carrying capacity, and 7.25% in Add 90M Tons tonnage) due to large investments by Greek shipowners. Reports also show to Fleet that Greek owners have performed well compared to their counterparts in Japan, China, and Germany, who saw saw their annual rate of growth in Seven Years decline in 2016. In the last seven years, Greek ship- Whereas the numbers are impressive in the dry bulk sector (its tonnage is owners have acquired ships adding up up by 7.2m dwt) and the tanker fleet (with a recorded increase of 14.6m dwt to 89.3 million gross tonnage out of during 2016), the most striking expansion is seen in the LPG sector, with a total addition of 391 million gross this fleet almost doubling in size and its age dropping from 11.5 to 4.2 years. tonnage to the global fleet, confirm- Source: www.seatrade-maritime.com ing the nation’s position at the top of the global shipping industry. In fact, the contribution of Greek shipowners to the expansion of the world’s fleet amounts to 23% and has brought with it growth of 74% for the Greek-owned fleet in the last seven years. It is evident that Greek shipowners took advantage of the global financial crisis to renew and strengthen their fleet, making the most of their strong cash flow and the low prices of ships. Greek-owned ships with a capacity of more than 1,000 gt each num- Distinction for the Port bered 4,085 (with a total capacity of 192.43 million gt) on March 1, of Thessaloniki 2017, according to the database In February 2017, the European Sea Ports of the Greek Shipping Cooperation Organization (ESPO) honored the Port of Committee in London. This rep- Thessaloniki, naming it ESPO Port of the resents an annual capacity increase Month. Located on the shores of the Ther- of 3.5 million gt, including 196 maikos Gulf in Northern Greece, the Port ships with a capacity of 20.6 million of Thessaloniki is a multipurpose port that gt that are under construction. constitutes a natural maritime gateway and Source: www.ekathimerini.com trade hub for the Balkans and the broader region. Its advantageous strategic position Port of Thessaloniki is further strengthened by the fact that the Port of Thessaloniki is directly connected to trans-European and regional transport networks. ESPO based its decision on the fact that the Port of Thessaloniki is the second largest container port in Greece and is located on the Orient-East Med Core Network Corridor of the Trans-Eu- ropean Transport Network (TEN-T), serving as an important transit hub for the Aegean and Black Sea region, as well as serving other Balkan countries including Serbia, the Republic of Macedonia, Albania, and Montenegro. The cruise and ferry business also plays an important role in the Port of Thessaloniki, and as the port is embedded within the city of Thessaloniki, the relationship with the local community is of paramount importance. Source: www.hellenicshippingnews.com

14 AEGEAN NEWS SUMMER 2017 Experts Predict Europe Will Absorb More LNG in 2018 Experts predict that Europe may absorb more LNG in 2018 because of growing global liq- uefaction capacity. Suppliers of pipeline gas to Europe may have to maintain lower prices to keep out uncommitted LNG cargoes, either through contract renegotiations or selling supply The Panama Canal at European hub prices. Russian state-controlled Gazprom’s sales to Europe, excluding the Baltic States, and Turkey New Tonnage grew substantially in 2016 as it defended market share. It increased sales through trading subsidiaries and gas auctions to boost exports, although buyer nominations under long-term Record for the contracts were also strong. What’s more, Gazprom expects little competition from US LNG, at least this year. But it would be in the company’s interest to compete with this growing supply Panama Canal source, given its declining domestic gas sales. The inauguration of the newly expanded On the other hand, US LNG will remain a competitive supply source in Europe, because Panama Canal took place on June 26, strong competition in US shale gas production and incentives to minimize losses from 2016. The expansion program included projects continue to weigh on Henry Hub prices. Russia has already renegotiated long-term the construction of a new set of locks pipeline contracts in the face of competition from European trading hubs and will probably do on the Atlantic and Pacific sides of the the same to counter competition from LNG, particularly from the US. waterway and the excavation of more than 150 million cubic meters of mate- Source: www.argusmedia.com rial, creating a second lane of traffic and doubling the cargo capacity of the waterway. Moreover, the expanded locks are 70 feet wider and 18 feet deeper than those in the original canal. The expansion achieved the desired results, and in January 2017, the Panama Canal set a new monthly tonnage record of 36.1 million Panama Canal tons (PC/UMS), with the transit of 1,260 ships through both the expanded and original locks, according to an announcement by the canal authority. Seven months after the beginning of operations, the expanded canal has transited more than 750 Neopanamax LNG carrier vessels—more than half of which were containerships. In addition, the expanded canal has accommodated liquefied petroleum gas (LPG) and liquefied nat- High Crude Oil Tanker Deliveries ural gas (LNG) vessels, as well as bulk at the Beginning of 2017 carriers, tankers, and vehicle carriers. “This increase reiterates the importance A record high crude oil tanker delivery amounting to 5.5m dwt was recorded of the expanded canal, and it is further in the beginning of the year. The unprecedented scale of 5.5m dwt in crude oil proof of the maritime industry’s con- tanker capacity represented a 220% surge compared to the delivered tonnage tinued confidence in the Panama Canal recorded in January 2016. The tonnage delivered in January 2017 alone already and the impact it will have on the future accounted for 22% of the crude oil tankers previous year's total deliveries. In of global trade,” said Panama Canal comparison to the totals of 2015 and 2014, the January 2017 figure accounted Administrator Jorge L. Quijano. for 48% and 51%, respectively. Source: www.worldmaritimenews.com Source: www.seatrade-maritime.com

SUMMER 2017 AEGEAN NEWS 15 RETAIL

16 AEGEAN NEWS SUMMER 2017 Aegean Oil— The Fastest Growing Company in the Greek Petroleum Market

The Aegean Oil brand has rapidly evolved into one of the most popular in the country, securing a leading position (by sales) among oil companies. Today, drivers have access to Aegean Oil products through the company’s extensive network of service stations across Greece—a leader in its field and constantly growing.

SUMMER 2017 AEGEAN NEWS 17 RETAIL

n May 28, 1999, Dimitris idis relocated to Alexandroupolis and ness decisions, continues to grow and Melissanidis and his brother set out getting to personally know the demonstrate sound finances. With an Iakovos Melissanidis put in station owners, establishing solid re- annual turnover of about 1 billion Eu- Omotion their business plan for cre- lationships and quickly expanding the ro, it contributes substantially to our ating a new, entirely Greek-owned company’s network, which, within just national economy in many ways. network of retail fuel stations and two years, comprised approximately Approximately half of its annual made the strategic decision to start 150 stations across northern Greece. turnover is paid into state coffers in in northern Greece and from there That same period saw the gradual the form of taxes and levies, while the expand across the country. implementation of an expansion strat- company also employs a workforce of egy aiming to further grow and estab- 2,500 in its various offices, facilities, From Idea to Execution lish the Aegean network throughout and service stations. In the context of implementing its the country. plan for establishing a network of gas Today, Aegean’s sales network Solid Foundations stations, Aegean Oil acquired a small numbers over 700 service stations Fully modernized with state-of-the- company that was active in the Evros nationwide, and despite challenging art equipment and machinery, Aege- region, in northeastern Greece. Follow- economic conditions in the country, an’s facilities in Alexandroupolis and ing the acquisition, Iakovos Melissan- the company, making the right busi- Aspropyrgos are strategic hubs for ships and tanker trucks transporting State-of-the-art Aegean Oil service station fuel and lubricants to its network of service stations. Smaller local units support loading operations at Hellenic Petroleum’s (HELPE) refineries in Aspropyrgos, Thessaloniki, and Elefsina, as well as from Motor Oil’s refinery near Corinth.

Customers First Having, since day one, to compete against the multinational giants that then dominated the Greek market, Ae- gean Oil saw only one course of action moving forward: focusing on quality and innovation and putting customers at the forefront of its operations. From the high standard of service provided at its network of gas stations to the long-term business partnerships it maintains with station owners, Aegean’s top priority is to supply quality products at competitive prices, while its R&D department develops new products that Greek consumers adopt and trust. Aegean Oil distributes its fuel products across the country using its pri- vately-owned modern fleet of tanker trucks, which meets all modern fuel transport and delivery standards. Determined to eliminate any pos-

18 AEGEAN NEWS SUMMER 2017 Iakovos Melissanidis

Since day one, Aegean Oil has seen only one course of oped by Aegean’s R&D division was launched in May 2017: D-Force action moving forward: focusing on quality and innovation Aegean Unleaded is a new type of and putting customers at the forefront of its operations unleaded gasoline that contains the latest generation of multifunctional additives that offer increased power sibility of tampering that could affect cant development projects. In 2015, and efficiency for gasoline engines. It fuel quality, Aegean has in place a se- in partnership with one of the world's is the fruit of long-term research and ries of safeguards and has introduced largest manufacturers of additives, Ae- benchmarking (both in laboratories spot quality controls using state-of- gean developed the Aegean D-Force and field testing), and Aegean is par- the-art mobile labs and specialized enhanced diesel fuel, whose outstand- ticularly proud of its new creation. staff. This initiative aims to effectively ing features fast earned it a significant Realizing its strategic goal of deliv- control adherence to major fuel spec- share of the diesel vehicle market. ering high quality products and ser- ifications, certifying that fuel sold vices, Aegean also offers a full range through the company's network of gas Innovation and High of new-technology lubricants of the stations has not been tampered with Performance highest quality, which address every and is of excellent quality. Aegean Oil’s success is owed primar- possible lubrication need. Faithful to its founders’ vision of ily to the company’s constant effort providing high-quality, well-rounded to ensure excellent product quality. Commitment to Environmental service to customers who choose its Well-trained personnel submit every Protection gas stations, the company has estab- product and fuel type to rigorous tests, Aegean’s commitment to environ- lished the Aegean Training Center, using state-of-the-art lab equipment. mental protection is evident in the which runs staff training programs, This ongoing quality control process company's integrated quality and envi- offering both theoretical knowledge ensures that all Aegean Oil-branded ronmental management system, which and practical, on-the-job training at fuel and lubricant products provide is geared towards customers and their service stations. the power and performance you need needs, covers all organizational and op- Always focused on customer needs, under all climatic and road conditions. erational processes, and is ISO 9001 and Aegean also runs new fuel and lubri- The most recent product devel- ISO 14001 certified by Lloyd’s Register.

SUMMER 2017 AEGEAN NEWS 19 RETAIL

Aegean facilities in Aspropyrgos

Corporate Social Responsibility consolidating its position among the Aegean equipped this station with As part of its CSR initiatives, Aegean leading companies in its field. its most advanced and environmen- operates sponsorship programs that Expanding its network on the Greek tally friendly equipment. provide funding and donations to islands, Aegean created the state- The Mykonos CO-CO (Compa- various public- and private-sector in- of-the-art Mykonos service station, ny Owned – Company Operated) stitutions and organizations that help whose construction fully respected the station offers all types of liquid fuel promote our social values. island's unique architectural style. It as well as LPG for vehicles and also Despite the challenging economic went into operation last summer. supplies fuel to the tourist vessels that climate, Aegean continues to be a haven of job safety, investing in its human resources and increasing its total staff, while also implementing Innovative Fuel Products training programs that provide career D-FORCE DIESEL development opportunities, especially Enriched with the most advanced enhancing additives. Increased cetane to young people. number (by up to 3), directly reduces fuel consumption by up to 3%; removes sediments from injectors and keeps them clean; ensures better Ongoing Investment in ignition and combustion; protects the fuel injection system from corro- Development sion; reduces emissions. Its composition guarantees maximum engine Going against the current, and admit- performance, improved durability, reduced maintenance costs, and re- tedly unfavorable, domestic market duced noise and vibration by up to 20%. conditions, Aegean remains confident in the Greek economy’s strength and D-FORCE UNLEADED its potential to recover, and relying on Enriched with latest-generation multi-functional additives. Reduces fuel its own capital, is implementing a de- consumption by up to 3%, prevents sediments on valves and intake man- velopment program that includes the ifolds, provides effective clean-up of existing sediments on valves, keeps creation of new outlets on the Greek the entire fuel system clean, significantly reduces friction, improves islands and national motorways. At vehicle driving behavior (improved cold start, smooth engine operation), the same time, it continues to invest in protects fuel system from corrosion and rust formation, and, of course, research, development, and marketing reduces maintenance costs. of diversified and improved fuel types,

20 AEGEAN NEWS SUMMER 2017 SUMMER 2017 AEGEAN NEWS 21 RETAIL

Motorist Service Station (MSS) in Almyros

approach the island, using compa- on March 10, 2017, Aegean opened the new Athens-Thessaloniki highway ny-owned tanker trucks. the doors of its new bidirectional, ul- (MSS Nikea). Continuing with the implementa- tra-modern Motorist Service Station in Aegean has equipped these two tion of its business and investment plan, Nikea, located at the 342.5km-mark of MSSs with state-of-the-art environ- mentally-friendly equipment and operates them in accordance with ISO 9001 quality standards and ISO 14001 Innovative Lubricant Products environmental standards Based on years of experience oper- VIGOR ULTRA ating two MSSs—in Almyros (270km- S 5W-30: Latest-generation, ultimate-performance, 100% synthetic mark on the Athens – Thessaloniki lubricant for use in Euro 5 & Euro 6 truck and bus diesel engines. It is highway) and in Arfara (at the Kala- specifically designed to meet the latest manufacturer requirements while mata exit)—and providing high quality offering reduced emissions and fuel efficiency. Available in 20Lt. cans & products and services on a 24-hour 208 Lt. barrels. basis, Aegean is determined to see the new MSSs in Nikea become a point of VELOX ULTRA reference for all passing drivers on the RD 5W-30: Latest-generation, ultimate-performance, 100% synthetic modern Athens-Thessaloniki highway. lubricant for use in gasoline or diesel engines in passenger cars and light commercial vehicles (vans, SUVs). It is specifically designed to meet the Looking ahead latest manufacturer requirements for high efficiency, reduced emissions, and three-way catalytic converter and particle filter protection, offering Since day one, Aegean has been an fuel savings. Available in 1Lt. packaging. entirely Greek-owned and financial- ly sound company. Faithful to the VELOX ULTRA vision and the values on which its LA 5W-40: Latest-generation, ultimate-performance, 100% synthetic rapid growth and establishment in lubricant for passenger and light commercial vehicles with gasoline or the petroleum products market was diesel engines. Its low ash content fulfills the new ACEA C3 specification based, the company continues to look and offers total catalytic converter protection, resulting in a longer life. forward to the future with optimism, Its use in new technology engines guarantees emissions reduction and constantly expanding its commercial engine protection when operating at high temperatures, which occur activities in the fuel and lubricant mainly in turbo versions, while at the same time achieving fuel efficien- retail sector, and investing in the cy. Available in 1Lt packaging. strong relationship of trust that it has achieved with its customers.

22 AEGEAN NEWS SUMMER 2017 SUMMER 2017 AEGEAN NEWS 23 THE AEGEAN INTERVIEW

Antonis Papadakis Deputy Managing Director, Aegean Oil SA

Deputy Managing Director with CEO duties Antonis Papadakis is responsible for the day-to-day operations and further development of Aegean Oil SA. He spoke to Aegean News about the company and the Greek petroleum market.

Tell us about Aegean Oil. competitive prices in the fuel and lubricants market. Aegean Oil SA is engaged in the retail of petroleum prod- All our employees share these same values and are fo- ucts under the Aegean brand and is the largest independent cused on achieving these goals and honoring the compa- Greek fuel and lubricant retailer. ny’s commitment to deliver quality products and services The company launched its commercial operations in the to customers who choose Aegean service stations for pur- retail market in 1999 and, following a strong growth trajec- chasing fuel and lubricants for their vehicles. tory, is now one of the most powerful brands in the Greek Operational excellence is a key goal, and we strive to en- fuel and lubricants sector, with a network of over 700 service sure that our service stations deliver consistent, courteous, stations spanning the length and breadth of the country. and friendly service to the thousands of customers who The company's momentum, and its position at the top rely on us. of the petroleum sector, is evident as much in the quanti- fiable approval of the hundreds of thousands of customers that use its service station network on a daily basis, as it is Aegean's customer-centric approach is firmly in the findings of specialized market research. Aegean Oil won 2nd place, among the 270 largest Greek geared towards delivering quality products companies, in Greece’s Most Admired Companies 2017 list, and services at the most competitive prices the foremost survey on corporate reputations, conducted by Fortune magazine in collaboration with KPMG. Social in the fuel and lubricants market responsibility, innovation, outward orientation, and financial health are just a few of the criteria companies in the list must meet, and Aegean Oil placed among the top three Most In the midst of a challenging period for doing business Admired Companies in Greece for the second year running. in Greece, Aegean Oil, making the right choices and staying focused on its business goals, is steadily improving its What is the company's commercial policy / strategy, and how financial results. is it coping with the long financial turmoil in our country? Despite the long-standing economic downturn, the Aegean Oil's customer-centric approach is firmly geared company, trusting the Greek economy’s underlying forces, towards delivering quality products and services at the most has developed and is implementing a three-year business

24 AEGEAN NEWS SUMMER 2017 plan that includes the development and marketing of new diversified fuels and lubricants, as well as moderate growth and further expansion of our network across the Greek islands and along national motorways.

What is Aegean Oil’s human resource policy? There are a total of 2,500 staff employed in Aegean’s offices, facilities, and network of service stations. Aegean Oil is consistently implementing a people-centric philosophy, focusing on proven, long-lasting collaborations, and providing its employees with opportunities for a steady, productive career path with room for professional development. In this spirit, Aegean Oil recently established the Aegean Training Center, which provides theoretical and practical training to service station employees, aiming to further enhance the quality of service provided to Aege- an’s customers. It is worth noting that despite the continuing economic downturn in the country, Aegean Oil has neither downsized nor introduced pay cuts. It has stood fast as a haven of job security in the challenging economic and social environment that all Greeks have been experiencing in recent years.

What is your forecast for the Greek retail fuel market? The financial crisis has imposed some adjustments, mainly a reduction in the number of service stations by approximately 30% compared to pre-crisis levels. Antonis Papadakis Considering the Greek market’s shrinkage and consum- er fatigue as a result of the deep economic crisis, I believe there will be further reduction in the number of companies In the midst of a challenging period for active in retailing fuels and lubricants, leading to further doing business in Greece, Aegean Oil, withdrawals from the market and/or consolidations. making the right choices and staying Having worked in leadership positions at large companies for focused on its business goals, is steadily twenty years, you are considered a successful manager. What do you think is the secret to being a successful manager? improving its financial results Every manager and executive must identify with their work to the point where they think of the company as if it were their own. planning. Even financial data, in the context of a corporate I treat every company I have worked with as if it were business plan’s key performance indicators, are a topic that my own, and I am very pleased when I meet both my team’s the management team needs to communicate about in or- and my personal goals. der to allow for the timely adjustment of business planning A manager should define goals, communicate them if and where this is required. clearly, and constantly motivate his team. Additionally, As far as my relationships with my colleagues and the the team should be kept up to date on the progress made company's employees are concerned, I believe that common towards the goals that have been set. goals, straightforward relationships without hidden agen- One of my core principles is strengthening official cor- das, mutual respect, honesty, and good communication and porate communication channels with employees, so as to openness with information are the key elements that bring avoid workplace gossip and misunderstandings in business together and bond a successful corporate team.

SUMMER 2017 AEGEAN NEWS 25 STATIONS OF THE MONTH By Far the Best Konstantinos Xagoraris, Emporio, Thira

Mr. Xagoraris’ service station is located in the village of Emporio on the island of Santorini. Mr. Konstantinos’ son, Babis Xagoraris, spoke to Aegean News about their business.

Mr. Xagoraris’ service station Tell us a bit about the area and your customers. Our service station is located in the village of Emporio, on a very busy spot on the main road. Santorini is a very popular island, so we serve a lot of tourists in the summer, whilst in the winter, we work with locals.

I do not care about prices. We decided to join the Aegean network because

they were better people. EMPORIO THIRA | 36.354043, 25.450267 Tell us about your business. How long Emporio is the largest village on the island of Thira, also known as Santorini. It has this service station been in opera- is located on the south side of the island, 12 km from the village of Fira, at the tion? Have long have you been in the foot of Mount Profitis Ilias. This traditional settlement was one of the island’s fuel business? castellia—‘castles’—as during the Middle Ages houses were built adjacent to We sell Aegean fuel and lubricants. I one another to afford villagers greater protection from pirate raids. The two most have been in this business for about popular theories hold that the village got its name, Emporio (which is Greek for 17 years, and my father has been in- ‘trade’ or ‘commerce’), either because it was a commercial center or because this volved in it for about a decade longer. that was once the trading port of Ancient Elefsis. This service station has been in operation for 30 years now. choose a new supplier. We were relationship with the owner and, of Since when have you been working approached by several companies course, taking into consideration the with Aegean as your supplier? with offers, but we preferred Aegean quality of the products. So they come We have been working with Aegean because it was by far the best. I do here because of me, and of course, for the past two years. not care about prices. We decided to they are satisfied both with the services join the Aegean network because they we offer and with Aegean products. How did you choose Aegean? were better people. What is your impression of the company and what has your collaboration How does your clientele respond to the been like so far? Aegean brand and products? The company we were working with The locals on Santorini choose a ser- went out of business, so we had to vice station based on their personal

26 AEGEAN NEWS SUMMER 2017 Overall Impressive Maria Tsiatsiari, Nea Bafra, Serres

Mrs. Tsiatsiari’s service station is located in Nea Bafra, in the prefecture of Serres. We spoke with her husband, Mr. Paschalis Arvanitis, about their station and their involvement in the fuel business.

The service station of Mrs. Tsiatsiari Talk to us a bit about your business and your area. Do you have any employees? Our service station is located on the main road that connects Drama and Amphipolis. It is a central location, and a lot of people drive by. Our customers are locals; we do not get any tourists passing through. We sell Aegean fuel and lubricants, and we also have a car wash on the premises. In addition to my wife and myself, we employ a staff of one.

I was impressed by the NEA BAFRA company’s personal touch, SERRES | 41.001746, 24.025565 Nea Bafra was founded by refugees who came from the town of Pafra in western their effort to make personal Pontos in 1924. Today it is a sizeable mountain hamlet at the foot of Mount connections, but also by the Pangaion, at an altitude of 180 meters. It is located in the prefecture of Serres, southeast of the city of Serres and west of Drama. The annual fair that takes place overall image, the products, in the village as part of celebrations for the Feast of the Transfiguration on August the service stations and 6 attracts visitors from the surrounding areas and from across the country. the way they had been set up—even the colors of Back then Aegean was relatively new What is your impression of your col- the Aegean brand. in this sector. How did you come to laboration with Aegean so far? the decision to join the Aegean retail Impeccable. Our collaboration has network? so far been simply impeccable. I have How long have you been operating this I chose Aegean after a meeting I had no complaints of my communication service station? And how long have with Mr. Iakovos Melissanidis. I was and dealings with the company and you been in the fuel business? impressed by the company’s personal its people. This service station has been operat- touch, their effort to make personal ing for fifteen years. connections, but also by the overall im- What do your customers think of the That’s how long I’ve been in the age, the products, the service stations Aegean products? business. We have been working with and the way they had been set up— Our customers are very satisfied with Aegean since day one. even the colors of the Aegean brand. Aegean’s products.

SUMMER 2017 AEGEAN NEWS 27 MARITIME TRADITION The Historic Trireme Olympias

The Hellenic Navy’s historic trireme Olympias is a full-scale, fully functional reconstruction of a 5th-century BC Athenian trireme. Olympias was built in Greece during 1985-1987 with financing from the Hellenic Navy in the context of an experimental archeology program.

ork on this historic recon- Greece. During 1995-1996, extensive A New Age of Glory for Olympias struction began in May repairs and maintenance were carried The Municipality of Piraeus orga- 1985 and was completed out on the wooden craft, and in 1997, nized and hosted Sea Days 2017 this Win July 1987. The technical drawings the Supreme Naval Council decided past May. The focus of the events was and plans for its construction were pro- to retire the ship and put it on exhibit, once again on the sea, sports, culture, vided by the UK-based Trireme Trust, so the trireme was transferred to the shipping, entertainment, and educa- while the Hellenic Navy provided the Naval Tradition Park in Trocadero, tion. In the context of this festival, for necessary funds. In the first years fol- near Athens. Additional repairs were the second consecutive year, Olym- lowing its launch, the trireme was used carried out at Elefsis Shipyards, and pias sailed to Marina Zea in Piraeus for exploratory archaeology purposes, in 2004, the ship was delivered to the under the direction of Commander to conduct sea trials to determine its Municipality of Piraeus for use during Nikolaos Polychronakis. navigational characteristics, including the Olympic Games. It was then de- Following its launch and subse- speed and maneuverability, as well as cided to return the Olympias to the quent trials, Olympias performed re- its endurance, and to better understand Naval Tradition Park to be put on markably, achieving a top speed of 9 the living conditions of its crew and the display in a specially designed roofed knots. The trireme traveled for hours tactics employed during battle. area. Ten years later, the trireme sailed at a speed of 4 knots with just half its During its early years, the trireme to the Salamis Naval Base to undergo oarsmen, rowing on rotation, and it was used frequently and, in 1993, was necessary maintenance to ensure it successfully performed a 180-degree even transported to Britain to partic- was once again seaworthy and was turn in just one minute, with an arc ipate in celebrations marking 2,500 subsequently transferred to Flisvos, smaller than 2.5 times its length. years since the birth of democracy in where it is currently docked. Source: hellenicnavy.gr, naftemporiki.gr

28 AEGEAN NEWS SUMMER 2017 TRAVEL WITH AEGEAN

Arta Must See Known for the famous stone bridge that dominates the entrance The Bridge of Arta The Bridge of Arta is a stone bridge over the river Arachthos. It is to the city, Arta is the capital of the homonymous prefecture famous thanks to the legendary folk song and the Municipality of Arta, as well as the second largest city of the same name, which tells the story of the ‘human sacrifice’ required for its con- in Epirus after Ioannina. struction. The Folklore Museum, just by the bridge, is also worth visiting. The Castle of Arta The Castle of Arta is a typical example of a Byzantine fortress. It was built in the 13th century by the Kom- nenos Family, the rulers of the Despotate of he city of Arta is built on the banks of the river Arachthos, on the Epirus, to strengthen the defense capability site of the ancient city of Ambracia which was once one of the most of their capital. important cities in the region. Founded by the Corinthians in the New Archaeological Museum of Arta T7th century BC, Ambracia soon became one of their most powerful colo- The New Archeological Museum of Arta was nies in western Greece. It was one of a series of colonies that the Corinthi- inaugurated in 2010. The artifacts in its collection span a period from Paleolithic to ans had established along the sea route from Greece to Lower Italy, as were Roman times. Anaktorio, Lefkada, and Corfu. The Walls of Ancient Ambracia Ambracia Arta also boasts considerable Byzantine heritage from its time as capital of was one of the most important cities in west- th th th the Despotate of Epirus (13 -14 and 15 century). This can be seen in the ern Greece during antiquity, surrounded by a remarkable Byzantine churches of Agia Theodora, Panagia Vlacherna, and defensive wall of monumental construction. Agios Vasilios, and in the Church of the Parigoritissa, an impressive 13th-cen- The surviving parts of the ancient wall that tury Byzantine building that stands out for its exceptional architectural are still visible today indicate that it was im- posing and elaborately constructed. character and exquisite mosaics and frescoes. The Ottoman Clock Tower of Arta Along with the famed bridge, this old stone-built clock tower is a symbol of the city of Arta. The tower is at least 350 years old. It was constructed during the Ottoman period, and the original clock featured Arabic numerals and enamel decorations. The Temple of Pythian Apollo Savior Ac- cording to all indications, this temple was the most important place of worship in ancient Ambracia. Based on analysis of the architectural elements found scattered in the area, archaeologists estimate that the temple was built in the early 5th century BC. Archaeolo- gists also believe that the temple was constructed over earlier temples of Apollo that once stood on this site. Aegean service stations

SUMMER 2017 AEGEAN NEWS 29 CHILDREN AND THE ENVIRONMENT I Pr otect the Environmen I Safeguar t d my Future By staying informed about wha happening in the world and by past is the informa sing tion on to others, we ar taking a signi ca e nt step toward protection of our planet. the • I BECO ME INFORMED • I INFORM OTHERS • I AT

Mediterranean Monk Seal

The Mediterranean monk seal (Monachus monachus) is one of two remaining monk seal species in the Phocidae family.

30 AEGEAN NEWS SUMMER 2017 They could once be found throughout the Mediterranean, the Black Sea, and the Atlantic coast of Northwest Africa, but today they are one of the rarest and most endangered species on the planet. According to the Red Data Book of En- dangered Animals of Greece, the Mediterranean monk seal faces an extremely high risk of extinction in its natural habitat in the near future and is classified as a critically endangered species. Did You Know? • Almost half of the world population of the Mediterranean monk seal, about 250-300 seals, live and reproduce in Greece. • Mediterranean monk seals can be spotted throughout the islands and coastal regions of Greece, with the exception of the two enclosed gulfs of Corinth and Arta. • Newborn Mediterranean monk seals, measure about 80 centimeters long and grow to an average of 2.4 meters in adulthood. • Adult males weigh an average of 320kg and adult females an average of 300kg. • Mediterranean monk seals can live up to 45 years. • They’re an integral part of the Greek and Mediterranean marine environment. • Monk seals tend to avoid humans and seek isolation. • Even though they spend most of their life at sea, Mediterranean monk seals seek out dry land, mostly remote and inaccessible sea caves, to give birth and rear their pups, but also to rest. • This unique species that has been around since antiquity is today one of the most endangered animals on the planet. • The main threats to the Mediterranean monk seal are reduced food sources, getting caught in fishing nets, and being hunted. • Mediterranean monk seals, like all coastal species, are particularly threatened by the degradation of coastal ecosystems due to human activity, since they have traditionally used beaches to rest and reproduce. • Another major threat to this species as a result of climate change are rising sea levels, as thousands of sea caves used by these seals will most likely disappear. • Ancient Greeks regarded the Mediterranean monk seal as a sacred animal under the protection of Poseidon and Apollo. • Renowned Greek poets, philosophers, and authors from across history—including Aristotle, Aristophanes, Homer, Papadiamantis, Elytis, and Viziinos— have written about the Mediterranean monk seal in their works.

The protection and conservation of the Mediterranean monk seal is the duty and responsibility of us all. WWF Hellas and MOm (a.k.a. The Hellenic Society for the Study and Protection of the Monk Seal), which have both been leading efforts to protect the Mediterranean monk seal for years, partnered up with the Pelagos Cetacean Research Institute and the Thetys Research Institute to create the Thalassa Project. With a campaign called “Sea: Learn, Act, Protect” (thalassa is Greek for ‘sea’), the project’s aim is to raise awareness and increase public participation in conservation efforts to protect marine biodiversity and marine mammals—including dolphins, whales, and Mediterranean monk seals—living in Greek seas.

Source: www.wwf.gr

SUMMER 2017 AEGEAN NEWS 31 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 Pirae- us and Patras, and in Gibraltar, Amsterdam-Rotterdam-Antwerp, Fujairah, Jamaica, Singapore, Trinidad & Tobago, Vancouver and Montreal, Mexico, Tangiers, Canary Islands, Baltimore, Philadelphia, New York, Norfolk, Charleston, Los Angeles and Long Beach, Hamburg, the Gulf of Mexico, St. Petersburg, South Africa and Brazil. 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 by ISM, ISPS and MLC as well as with ISO 9001, 14001, 18001 and 50001 and are in complete compliance with SOLAS and MARPOL regulations. Aegean continually adds to its fleet of ships, which transports oil cargoes worldwide on behalf of major oil companies, commercial clients, and Aegean customers. Its new GreenFleet (http://www.greenfleet.gr) incorporates the latest technologies to ensure reduced operating costs and reduced emissions, while increasing overall performance. 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, 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. 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 | www.hec.gr

32 AEGEAN NEWS SUMMER 2017