Bunkering AEGEAN MARINE PETROLEUM Is a Leader in Ness, Respect and Equality and Rewards Driven and Hard-Working Individuals

Aegean News THE QUARTERLY MAGAZINE OF AEGEAN AUTUMN 2017

Aegean Oil Αmong Fortune's Most Admired Companies 2017

Aegean Shipping Management Further Develops its GreenShip Standards

AMPNI New Cooperation Agreement with Freepoint Commodities Plus Women Flows and Currents Travel with Aegean of Aegean

Aegean editorial Core Activities Women Forward In recent years, women have made incredible gains in Retail professional and public life. With more female repre- AEGEAN OIL has established a gas station network throughout Greece, and is one of sentation in key positions in government and business the fastest growing companies in the retail and more women participating in the workforce than market. AEGEAN’S gasoline market share in ever before, there is no room for doubt about the tide of Greece is 8%. change that is transforming older, outdated prejudices and opening up an increasing number of opportunities for women around the Shipping AEGEAN SHIPPING manages a fleet of tank- world. Stereotypes of women as housewives dedicating their lives to running ers, ranging from 28.610 to 50,926 DWT, the household are giving way to the modern, the contemporary woman: driv- that transfers and delivers oil to our clients throughout the world. All ships meet ISM en, ambitious, ready to take on the professional world while balancing career standards. The Company’s new GreenFleet and family. After decades of struggle by women’s right activists and millions (http://www.greenfleet.gr) incorporates the latest technologies to ensure reduced of working women unequivocally proving their talent, ability and potential, operating costs and reduced emissions, women today are closer than ever to achieving occupational and income equal- while increasing overall performance. All ity. But there is still a long way to go. ships are certified by ISM, ISPS and MLC as well as with ISO 9001, 14001, 18001 and Aegean fully recognizes the fundamental role of women as the cornerstone of 50001. AEGEAN SHIPPING is additionally a healthy society as well as the value of women’s participation in the workforce. certified with ISO 22301. Since its establishment, Aegean has welcomed talented women among its staff, working to ensure a dynamic workplace that operates on the core values of fair- Bunkering AEGEAN MARINE PETROLEUM is a leader in ness, respect and equality and rewards driven and hard-working individuals. providing the best bunkering services avail- Operating in a fast-paced, complex industry, Aegean has time and time able in Piraeus, Patras, Gibraltar, Amster- dam-Rotterdam-Antwerp, Fujairah, Jamaica, again proven its strength, resilience and perseverance. With its astute under- Singapore, Trinidad & Tobago, Vancouver, standing of the rules of the market, and building on good strategy, foresight Montreal, Mexico, Tanger Med (Morocco), Canary Islands, Baltimore, Philadelphia, New and its strong propensity for innovation, Aegean has gone from small local York, Norfolk, Charleston, Los Angeles and business to being one of the top players in its field, with a leading role in global Long Beach, Hamburg, the Gulf of Mexico, commerce. This extraordinary feat was made possible thanks to Aegean’s peo- St. Petersburg, South Africa and Brazil. AEGEAN MARINE PETROLEUM is the market ple, the team of highly-skilled women and men who are the company’s vital leader in bunkering. force. Fully trusting in women’s capacity to excel in the workplace, Aegean employs women in key positions across departments from Environmental Ser- Agency Services vices to Shipping, LNG, Lubricants, and Sales. Ships from around the world rely on AEGEAN AGENCY services at Piraeus, Gibraltar, Aegean’s impressive growth has been made possible thanks to its ability to Fujairah, and Jamaica, from loading and dis- look at both the details and the big picture. And a strong, empowered female charging, to spare parts and supplies. workforce is fundamental to a stronger economy and a stronger society. For us, it’s simple: Investing in women is investing in the future. Lubricants AEGEAN OIL produces and markets high performance lubricants for vehicles and industrial use, under the AEGEAN brand. AEGEAN MARINE PETROLEUM trades and ALEXANDRA LOLI supplies lubricants for the marine market Publisher under the ALFA brand.

AUTUMN 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

MY During the Most Admired Companies in In light of new environmental challenges Seven women of Aegean talk about Greece 2017 award ceremony Aegean Aegean Shipping Management further develops their lives, the people that inspire them CY 9 14 18 Oil was honored with second place its GreenShip standards and the challenges they face

CMY K You're on the move. So are we. CODE: 5169 Get Aegean News wherever you are. Autumn 2017 4 ΑΕGEAN UPDATE 18 THE AEGEAN FAMILY Women of Aegean Aegean News is published quarterly by AEGEAN 9 RETAIL PUBLISHER & MANAGING EDITOR Alexandra Loli Aegean Oil Αmong Fortune's 27 BUNKERING CONTRIBUTING EDITOR Most Admired Companies 2017 New Cooperation Agreement with Freepoint T.C. Lowrie Commodities LLC DESIGN Aegean News iPad version White Design 10 BUNKERING PRINTING AND BINDING 28 STATIONS OF THE MONTH Aegean Ports of Call— is now available at the app store. Korifi Publications SA • Anastasios Ioannidis, Skydra OWNER Gibraltar and Jamaica Enhanced with video, more photos, Aegean • Kostas and Dimitris Tsakalis, Paleros 10 Akti Konydli and interactive content! 185 45, Piraeus, Greece Tel: +30 210 458 6000 12 FLOWS AND CURRENTS 30 MARITIME TRADITION Fax: +30 210 458 6241 Trends and News in the Oil E-Mail: [email protected] The Greek Shipping Hall of Fame Websites: www.aegeanoil.gr, and Energy Fields www.ampni.com Comments and suggestions 31 TRAVEL WITH ΑEGEAN are welcome. 14 AEGEAN SHIPPPING Porto Rafti Aegean News is free of charge and Aegean Shipping Management is available, subject to availability, to any interested person or organization. Further Develops its GreenShip Standards 32 ΑEGEAN in Light of New Environmental Challenges Energy for the Future Please Recycle TIME AUTUMN 2017 AEGEAN NEWS 3 ANYWHERE AEGEAN UPDATE

The Naval Vessel Admiral Didiez Aegean at the CARILEC Burgos Visits Engineering Conference the Aegean Pier Aegean had a strong presence at the 2017 CARILEC Engineering Conference held in Jamai- ca's Montego Bay with more than 250 participants. Aegean Bunkering (Jam) Ltd. CARILEC (Caribbean Electric Utility Services Corporation) is the association of electricity welcomed the Dominican Republic’s production and distribution companies, suppliers, manufacturers and carriers active in the Admiral Didiez Burgos ARD Naval Caribbean, in Central and South America and around the world. Headquartered in St. Lucia, Patrol Vessel at Aegean’s Pier in Kingston Jamaica. The Embassy of CARILEC organizes events to keep its members informed on various industry-related topics. the Dominican Republic invited the Such events include meetings where CARILEC member companies are present, as well as vessel’s crew for a three-day stay seminars on the future of alternative energy sources. CARILEC is also the main organizer of (July 10-12, 2017), which was filled exhibitions in the Caribbean region for manufacturers wishing to present their products to with various activities including a electricity providers. rousing welcome by a marching band Titled “Re-Engineering our Energy Future: Utility in a Disruptive Age,” the conference focused and an evening cocktail party with on the potential of the technologies and business models currently affecting global electricity distinguished guests. production worldwide and particularly in the Caribbean. Some of the main issues of interest to utilities were the launch of Smart Grids networks, LNG electricity, and new energy storage technologies, as well as the presentation of technological leaders who affect the global electricity production and distribution market with their technological breakthroughs in the field of renewable energy, battery optimization, and electrification. In line with the theme of the conference, Aegean was part of the "Utility in a Disruptive Age" program, presenting an innovative business model that showcases the advantage of collaborating with Aegean as the main supplier of lubricants, thus improving the services and value of the lubricants it offers in the area. Aegean's main customer for over a year, Barbados Light and Power Company, who had a presence at the event, spoke favorably of the cooperation with Aegean as a major lubricant supplier. With its participation in this conference, Aegean gained a strong presence in the Caribbean electricity production community and strengthened its ties with key electricity customers, with the direct result of participating in new lubricant supply competitions. These are important steps in the introduction of Aegean lubricants in the Caribbean region. Colonel Juan B. Crisostomo Martinez, Head of Mission Major manufacturers such as Wärtsilä and MAN, who have certified Aegean's lubricants, with the Dominican Republic Naval Ship; were also present at CARILEC 2017. In addition, electricity companies from Anguilla, Dr. Jose Ares, Ambassador of the Dominican Republic in Jamaica and Dean of the Diplomatic Corps; Patricia Antigua and Barbuda, Jamaica, Bermuda, Sint Maarten, and the Cayman Islands, among Evering, Director of Protocol at the Ministry of Foreign others, were introduced to Aegean and expressed interest in Aegean as a candidate sup- Affairs and Foreign Trade of Jamaica, Captain Mac Donal Belliard, Captain of the frigate plier of lubricants.

4 AEGEAN NEWS AUTUMN 2017 SEΕPE Celebrates 40 Years

New Employees The following employees have joined the Aegean work force.

MELCO Charalambos Vryonis Kyriakos Manolakas

AEGEAN WAREHOUSES Christos Hadjisavvas

AEGEAN OIL Konstantinos Koutroulis The SEEPE event at Zappeion OIL ONE On October 3, the Hellenic Petroleum Marketing Companies Association (SEEPE) celebrated 40 Spyridon Raptis years of continuous support to the Greek economy with government departments and agencies Konstantinos Peppas of the petroleum sector, with a call for determination and coordination to reorganize the market. Alexios Cizo The event took place at Zappeion Hall, with guests that included government officials, represen- George Athanassoulas tatives from various political parties and the business world, journalists, industry leaders, and Nicholaos Dintas member companies. Aegean, a member of SEEPE, was present at the event. Minister of Economy and Development Dimitris Papadimitriou and former Minister of Econ- omy and Development of New Democracy Dora Bakoyanni spoke on behalf of the State. SEEPE President Yannis Alegyzakis referred in detail to the role of SEEPE, its contribution to society, and its full support to the State in resolving the serious problems of the sector. SEEPE Vice-President Roberto Karachanas, in his greeting, went briefly through the association’s history, pointing out that “Our Association was and is actively present, operating consistently and responsibly.”

Aegean News for iPad in Top 5 Globally Did you know that the Aegean News iPad edition app is an award-winning digital application? Logging On Did you know that it is among the Top 5 magazines in its category on the App Customers and associates Store? Globally? may log on at: That’s right. Our company magazine has been recognized as one of the best of its www.aegeanoil.com kind—and among the most popular in the world. Customers and associates of Aegean Download the Aegean News for iPad app today, and share it with your colleagues Marine Petroleum may log on at: and friends around the world. www.ampni.com

AUTUMN 2017 AEGEAN NEWS 5 AEGEAN UPDATE

Petroleum Tournament 2017 The latest petroleum tournament took place on September 18 – October 13, 2016 between several industry companies at the Halandri Tennis Club, at Koza Sports, Deree and “Andreas Papandreou” Stadium in Peristeri. Aegean won in the following categories: 1. Volleyball - 2nd place: P. Ioannidis, The Cosco Shipping and Aegean Shipping Management teams A. Pavlakis, S. Vradis, L. Aslanoglou, I. Sideris, G. Panos and A. Liapis. 2. Men's tennis, singles (2nd chance) final: A. Liapis 3. Men's tennis, singles: 6th place: G. Ziglis 17th place: X. Kechris 30th place: A. Liapis 41st place: P. Hatzidimitriou 4. Tennis double: 11th place: L. Aslanoglou and A. Liapis 5. Basket 3x3: Swem Sun, Director, Cosco Shipyard Group Commercial George Melissanidis and Swem Sun, Director, th Headquarters; George Melissanidis; and Zhou Jianhua, Cosco Shipyard Group Commercial Headquarters 5 place: O. Georgiopoulos, Managing Director, Cosco (Zhousan) Shipyard Co. Ltd N. Pippos, I. Galanos and S. Mastrakoulis 9th place: N. Tokatloglou, Aegean Shipping A. Thomoglou, D. Papadogonas and T. Troupis Enters Dry Bulk Sector 10th place: K. Prearis, N. Rigos, Aegean Shipping Management S.A. announced on September 4, 2017 the signing of a new I. Sideris and A. Liapis building order of a series of 4+2+2 82,000 dwt 'Kamsarmax' Bulk Carriers to be construct- 11th place: S. Vradis, G. Panos, ed at Cosco Shipping Heavy Industry Co. Ltd, Cosco Zhoushan shipyard, with deliveries G. Hatzipanagiotou and A. Topalidis scheduled for the second half of 2019 onwards. 12th place: L. Aslanoglou, This marks the first move of Aegean Shipping Management into the dry bulk sector and will L. Broumas, M. Angelis coincide with the creation of the spin-off Aegean Shipping Dry Bulk. and B. Vedran 6. Table Tennis: Announcing the order, Company Chairman George Melissanidis stressed: "We decided to move 5th place: D. Panagopoulos into the dry bulk sector now as an investment, taking advantage of the historically low asset 9th place: G. Spithouris price levels, combined with our belief that this sector is on its way to a sustainable recovery by 13th place: Z. Kyrbeis 2018/19. We believe this is the right time to enter and we are very happy to be collaborating 17th place: P. Nikokyris with our partners at Cosco Shipping in this exciting new venture for Aegean Shipping Manage- 18th place: A. Liapis ment. I am convinced that the Dry Bulk development will prove a great success." Aegean, Avin, BP, Chevron, Coral, Eko, This bulk carrier order will see the ships being delivered at a time when most industry anal- Greek Petroleum, Greek Fuels, Elinoil, yses show the dry cargo sector to have recovered to long-term sustainable average rates as Mamidoil - Jetoil, Revoil, Motor Oil, there will have been an increase in trade and we will have had more scrapping. Shell & MOH, Silk Oil and Petrogaz Company CEO, Apostolos Poulovassilis stressed: "This is a very significant newbuilding participated in the tournament. order for us and it is firmly aligned with our diversification and fleet expansion strategy via We thank all our colleagues who participated in the tournament, worthily modern and efficient vessels. The specification for these vessels has been jointly developed representing our company. We con- with the yard and designers, COSCO and SDARI, and has been enhanced in accordance with gratulate them and wish that Aegean our Company's Green Fleet standards in order to meet and exceed industry demand require- always comes back a winner! ments for this ship type.

6 AEGEAN NEWS AUTUMN 2017 The Maritime Authority of Jamaica Capt. Naveed Azad, Senior Asst. Terminal Manager, POF; George Moustakas; Dr. Salem Abdo Khalil, Technical Advisor, 16th anniversary event Government of Fujairah; Paul Himsworth, Managing Director, Vitol Dubai Limited; Sherine Sherif; and Hany Saad The Maritime The Gulf Intelligence Energy Authority Markets Forum 2017 of Jamaica The 7th Gulf Intelligence Energy Markets Forum titled “The Gulf Energy Sector Accelerates: th Retooling for the 21st Century: How to Best Meet Opportunities & Challenges Presented by 16 Anniversary Asia’s Competitive Appetite & Growth?“ was held on September 19, 2017, at Novotel Hotel Aegean Bunkering (Jam) Ltd. is again Fujairah, UAE. proud to support the endeavors of The annual forum serves as a vehicle for industry leaders, senior executives, managers, and The Maritime Authority of Jamaica, Fujairah government officials under the categories of Trading, Ports and Shipping, Storage and this time as they celebrate their Refining. It provides a platform for them to gather invaluable insights and exchange knowledge 16th anniversary and award function and explore forward-looking trends relevant to the challenges faced by the energy sector and at the Terra Nova All-Suite Hotel. how to strengthen the ties between countries in Asia, Africa and the Middle East. The evening of September 6, Aegean, which was one of the forum’s supporting partners, was represented by Sherin Sherif 2017 saw a rich mix of maritime and Hany Saad and our Dubai Trading Team; Aegean Oil Terminal Customer Service Manager workers and personalities sharing Tamer Marei, and General Manager of Aegean Fujairah George Moustakas. in celebration not only in the On September 18, on the eve of the Energy Markets Forum, “The New Silk Road CEO of the achievements of the organization, Year 2017 Awards” was produced by the Gulf Intelligence on behalf of the Government of but also in honoring and appreciating Fujairah, which recognized the distinguished Energy Leaders with an outstanding record the employees for their years of of achievement in the advancement of International Energy Industry and Interconnectivity service and key input to the industry. across the South-South Corridor. The awards were presented by His Highness Sheikh Saleh Bin Mohammed Bin Hamad Al Sharqi, Chairman of the Department of Industry and Economy of, Fujairah. Jonathan Mcilroy, President of Aegean Marine Petroleum Network Inc., and George Moustakas, General Manager of Aegean Fujairah, were among the invited guests of the inaugural event.

Real Admiral Peter Brady, Director General, George Moustakas; Capt. Mousa Morad, General Manager, Maritime Authority of Jamaica POF; and Jonathan Mcilroy

AUTUMN 2017 AEGEAN NEWS 7 AEGEAN UPDATE

Unveiling of the Βust of Nikolaos Tsigaropoulos

Mitchell Karp, Clearlynx; Jonathan Mcilroy, Aegean; Tammi Ingannamorte, Clearlynx; Guillermo Brenes, Amex; and Tugrul Topaloglu, Amex The American Express Party at the Aegean Headquarters

On September 27, American Express hosted the Greek Dimitris Melissanidis and Mayor of Katerini Savvas Chionides Shipping community for a beautiful event held at Aegean’s reveal the bust of Nikolaos Tsigaropoulos headquarters in Piraeus. During the event, American Ex- press unveiled an innovative financial solution designed On October 1, the unveiling of the bust of Nikolaos Tsiga- specifically for bunker fuels. American Express has part- ropoulos, a hero who was killed at the age of 22 while fighting nered with ClearLynx to offer supply chain finance solu- against the Turkish invaders in Cyprus in August 1974, took tions to the maritime industry by accelerating payments place at Elafos, Pieria. to suppliers and extending payment windows for buyers. Aegean’s founder, Dimitris Melissanidis, who donated the bust, Amex's payment integration into the ClearLynx platform and Mayor of Katerini Savvas Hionidis unveiled the statue. A has allowed buyers of bunkers to benefit from balance memorial ceremony followed led by Metropolitan Kitrous, Kate- sheet neutral financing and many other procurement relat- rinis & Platamonos Georgios and a speech by Hellenic Airforce ed enhancements in operations, compliance and reporting. Major General Spyridon Dellis, commander of Nikolaos Tsiga- Both parties have listened to the industry’s needs and are ropoulos in Cyprus, attended by Mrs. Olympia Tsigaropoulou, able to provide payment solutions for cargoes, not only mother of the fallen soldier. bunkers, as well as Panama Canal tolls eliminating manual Mr. Melissanidis, Mr. Hionidis, Major General Dellis, Hellenic process. Forward thinking is powerful! Airforce Lieutenant General Nikolaos Samson, the President of the Local Community of Elafos Ioannis Adamopoulos, relatives and friends of Nikolaos Tsigaropoulos, as well as residents of the Local Unity of Elafos presented wreaths. Members of Parlia- ment Charilaos Tzamaklis and Asterios Kastoris, as well as writer-publisher Savvas Kalenteridis, writer Tasos Kontogiannidis, representatives of local authorities, bodies and associations, and a crowd of people also attended the memorial service. At the end of the ceremony, the Elafos choir performed two traditional songs. The first one told the story of a mother experiencing the loss of her child and the second one was a Pontian song about peace. Children from the local cultural club attended the event, while the reception was held at the Holy Church of the Assumption of the Virgin Mary reception hall. The American Express party

8 AEGEAN NEWS AUTUMN 2017 RETAIL Aegean Oil Αmong Fortune's Most Admired Companies 2017

The Most Admired Companies in Greece 2017 award ceremony took place in Athens on September 28. Aegean Oil was honored with second place among the 270 companies that participated.

Iakovos Melissanidis, Fortune Director Anastasia Parentzoglou, Iakovos Melissanidis and Vera Melissanidou Olive Media Commercial Manager Nassia Sakellariou and Antonis Papadakis

he Most Admired Companies in Greece 2017 is the largest corpo- rate reputation survey, conducted by Time's Fortune magazine in collaboration with KPMG. TThe Managing Editor of Time's Fortune magazine, Greek edition, An- astasia Parentzoglou, presented the award to Iakovos Melissanidis. Mr. Melissanidis said: "This distinction is very important to Aegean. It comes as a reward for our upward trajectory and continuously growing business. The award also creates a greater commitment to the continuous effort to deliver high quality and innovative products and services." Representatives of the business community attended the event. Iako- vos Melissanidis, George Melissanidis, Vera Melissanidou, the CEO of Aegean Oil Antonis Papadakis, General Manager Kostas Poursanidis and Commercial Director John Komninos represented Aegean. Following the award ceremony, Fortune magazine hosted a dinner at the Ecali Club.

AUTUMN 2017 AEGEAN NEWS 9 BUNKERING Aegean Ports of Call

Aegean operates in many ports throughout the world, supplying customers with products and services. Aegean News highlights developments from some of the Aegean Ports of Call—the series continues with news from Gibraltar and Jamaica.

Gibraltar National Day Just like every year on September 10, Gibraltar’s Casemates Square trans- formed into a sea of red and white, with over 3,000 people attending to hear the traditional SDGG political rally. This year, the event was of even greater significance as it marked the 50th anniversary of the 1967 referendum that saw an overwhelming majority of Gibraltarians vote to remain British. British Prime Minister Theresa May addressed the crowds in a recorded video message that was broadcast on the main stage during this special oc- casion. She referred to the current Brexit situation and said that the United Kingdom would stand by Gibraltar for as long as Gibraltarians wished to remain British, reaffirming the double lock sovereignty commitment. New Role for Speaking about the 1967 referendum, the Prime Minister said, “On that day you made a choice, voting almost unanimously to remain British, and Commodore it is right that we celebrate that choice today, 50 years on, at a time when Gibraltar and the UK are closer than ever before.” She went on to say that Bob Sanguinetti Britain “will resolutely safeguard Gibraltar, its people and its economy, and Gibraltar will remain British for as long as it wishes to do so.” In the three years since becoming The celebrations ended with a series of spectacles, including blasts of confetti CEO of the Gibraltar Port Authority, and red and white smoke, fireworks, and petals dropped from a helicopter. Commodore Bob Sanguinetti has made a number of improvements in various areas and has increased bunker volumes as well as other business activities at the port. He has also held various conferences and presentations that have enhanced Gibraltar’s standing as one of the world’s key shipping hubs, alongside Singapore, Hong Kong, New York, Athens, London, Rotterdam, and Hamburg. In recognition of Sanguinetti’s successful track record at the Port Authority, Chief Minister Fabian Picardo has offered him the opportunity to work with him, in a strategic role that builds on the progress made to date. Sanguinetti will be in contact with various shipping companies in order to obtain information and expertise to maximize the impact of his new role. Fabian Picardo, Gibraltar Chief Minister

10 AEGEAN NEWS AUTUMN 2017 Caribbean Maritime University World Maritime Day, on September earned the institution international Management, Nautical Studies, Engi- 28, marked the transition of the Ca- recognition and local prominence as neering in Mechatronics, Automation, ribbean Maritime Institute to univer- the only university of its kind in the 3D Printing and Additive Engineering sity status under the name Caribbean English-speaking Caribbean. Manufacturing, Industrial Systems, Maritime University (CMU). The Recognized by the International Mari- Shipping and Logistics, Custom Pro- 37-year-old institution celebrated its time Organization (IMO), CMU is cesses, and Marine Engineering and charter day with an array of activities looking to a future of academic and Security. The university now enjoys that included the appointment of the maritime excellence, taking charge of the unique status of being the only in- university’s first chancellor, president, the wave of innovation, technology ternationally recognized maritime ed- and vice president, as well as festiv- and market opportunities afforded ucation and training institution in the ities that included marching bands, them. CMU has also managed to net- English-speaking Caribbean. It is also choir music, a hoisting of the flag work with key shipping industry play- the only tertiary education institution ceremony, and a fireworks display, all ers in a series of partnerships aiming that is ISO 9001:2015 certified and topped off with an extravagant cock- to develop highly efficient and special- boasts accreditations from across the tail event. The charter day ceremony ized human resources for the sector. globe, including North America and was attended by prime ministers, As a specialized maritime university, Europe. With a 5,000-strong student dignitaries, students, staff, sponsors, CMU is organized into several facul- population, CMU is also the first spe- and friends of CMU. The remarkable ties, schools and centers, with a focus cialized public university in the region visionary leadership of CMU Pres- on areas that include: Marine Biotech- and the first in Jamaica to enjoy inter- ident Professor Fritz Pinnock has nology, Logistics and Supply Chain national recognition.

Distinguished guests on platform The President of Jamaica, the Honorable Andrew Michael Holness

CMU logo burnout Cadets marching

AUTUMN 2017 AEGEAN NEWS 11 FLOWS & CURRENTS

Norway and California Join Forces to Meet Zero Emission Goals Ships in Canada Told to Slow Down to The Norwegian Maritime Authority Prevent Whale Deaths and the U.S. state of California The Canadian government has put into effect a temporary mandatory slowdown for vessels of have signed an environmental 20 meters or more in length in a bid to prevent further whale deaths in the Gulf of St. Lawrence. agreement on green shipping Vessels traveling in the western part of the gulf from the Quebec north shore to just north of and cooperating toward zero Prince Edward Island, are now required to reduce their speed to a maximum of 10 knots. “The emission goals. “The deal with recent deaths of several North Atlantic right whales in the Gulf of St. Lawrence are extremely California provides opportunities concerning… Our government has already taken action and will continue to ensure that mea- for Norway. We have a lot to sures are in place for the protection of this species and the safety of mariners using these contribute in terms of green waters,” read a statement issued by Canadian Minister of Transport Marc Garneau and Minister shipping, green data centers, and of Fisheries, Oceans and the Canadian Coast Guard Dominic LeBlanc. The statement said mea- climate-friendly production,” said sures would be in effect until the whales migrated from the areas of concern, and that fines of Norwegian Minister of Climate and up to CAD 25,000 would await those found not in compliance with the measure. The Canadian Environment Vidar Helgesen. government has already invested CAD 1.5 billion in its Oceans Protection Plan. At a seminar organized by the San Source: worldmaritimenews.com Francisco Port Authority, Lasse Karlsen, Technical Director of the Norwegian Maritime Authority, who was also part of the Norwegian Finland Opens World’s First Open Test delegation, spoke about green Area for Autonomous Ships shipping and presented the NMA’s work with various zero emissions Jaakonmeri Test Area, the first glob- projects, including the battery- ally open test area for autonomous powered ferry Ampere, as well shipping projects—maritime traffic, as with projects for developing vessels, or technologies related to hydrogen-powered vessels. it—has been opened in Finland. It is “Norway’s objective to become a managed and controlled by DIMECC, green competitor and to develop the co-creation company that is also new and environmentally friendly leading the One Sea – Autonomous Maritime Ecosystem and is located outside the technology will, however, also municipality of Eurajoki. The open water area will provide opportunities to also require international cooperation,” test in ice conditions during the winter and will boast excellent data connectivity. Helgesen said, pointing to the Extensive testing is a prerequisite for safe and successful autonomous traffic, and a country’s ambitious environmental crucial step in the roadmaps generated in One Sea, so making this test area available objectives for 2030 and 2050, to all parties developing maritime autonomy will speed up the process globally and including zero emissions in the will enable proof of concept for commercial applications in this field. DIMECC is transportation sector. “Closer already in discussions about the first tests, which are set to commence in the spring cooperation with California will of 2018. Founded in 2016, the One Sea ecosystem represents innovative co-creation contribute to the fulfilment of where global leaders from different industries work together to reach their joint these objectives,” he concluded. goal of autonomous traffic. Its founding partners are ABB, Cargotec (MacGregor Source: worldmaritimenews.com and Kalmar), Ericsson, Meyer Turku, Rolls-Royce, Tieto, and Wärtsilä. Source: worldmaritimenews.com

12 AEGEAN NEWS AUTUMN 2017 PPA Perama Docks in Full Increased Tanker Orders in Q2 2017 Operation Repairs to floating dock Piraeus I Attractive asset prices in Q2 2017 resulted in orders placed for 32 product in Perama were successfully completed tankers worldwide: 10 Handysize vessels, 22 Middle Range (MR) tankers, and this summer, and all four existing 18 Long Range (LR) 2 vessels, corresponding to 2.4% of the product tanker docks are now back in full operation. fleet. The crude order book recorded an intake of 17 Very Large Crude Car- A new floating dock is expected to riers (VLCC), 2% of the segment’s order book. Total ordering in tankers has begin operations in November 2017, been 15 million DWT so far in 2017, which is significantly more than in 2016. with a carrying capacity of 80,000 With respect to earnings, so far this year the MR product tanker segment has tons, length of 240m, inner breadth fared the best, with spot rates above those for both LR1s and LR2s. Overall, of 35m, lifting capacity of 22,000 strong vessel deliveries over the past year have kept tanker earnings at bay tons, and full crane equipment. across the board. The new floating dock supplements Meanwhile, BIMCO’s data shows that 1.3 million DWT of crude oil tanker the existing infrastructure of the capacity was sent to scrapyards during Q1 and Q2 2017, on track for the Perama Ship Repair Zone, aiming expected demolished capacity of 9 million for the full year. Eight crude oil to attract more ships from across tankers were sent for demolition during this period, including two VLCCs, the wider Mediterranean region. two Suezmax, three Aframax, and one Panamax, which is a good sign when It will also provide a boost to the Zone compared to last year’s total of nine crude oil tankers. by creating a number of new jobs. Source: worldmaritimenews.com The existing docks featuring full crane equipment: • Piraeus I floating dock: carrying capacity up to 40,000 tons, Lloyd's Register Joins 202m long, 31m inner breadth, and lifting capacity of 15,000 tons Quadriga Project • Piraeus II floating dock: carrying capacity up to 7,000 tons, UK-based maritime classification society Lloyd’s Register (LR) has joined the Quadriga sus- 113m long, 18.5m inner breadth, tainable shipping project, an initiative from Hamburg-based Sailing Cargo, which aims to build and lifting capacity of 4,000 tons the world’s biggest sailing cargo ship: a 170-meter car carrier, with a capacity of up to 2,000 • Large dry dock in Akti Vasiliadi: cars. The vessel will be equipped with four DynaRig masts and will operate on hybrid propul- carrying capacity up to 15,000 tons, sion, using both sails and diesel-electric engines, as well as an optional battery system for 150m long, and 21m inner breadth peak loads. It will be capable of sailing at 10-12 knots, with plans for reaching 14-16 knots • Small dry dock in Akti Vasiliadi: in the next few years through combined expertise. LR will consult and supervise during the carrying capacity up to 3,000 design, specification, and new construction stages, to help ensure compliance with technical, tons, 90m long, and 13.5m inner safety, and environmental standards, and will verify whether predicted performance parame- breadth ters have been achieved, upon completion of the project. Source: olp.gr Source: www.lr.org

AUTUMN 2017 AEGEAN NEWS 13 AEGEAN SHIPPING Aegean Shipping Management Further Develops its GreenShip Standards In Light of New Environmental Challenges APOSTOLOS POULOVASSILIS | CEO OF AEGEAN SHIPPING MANAGEMENT

Ship owners and operators and the complete shipping industry in general are facing a number of overwhelming challenges in the coming months and years. Having to deal with a continuously difficult business environment for most sectors amidst a sluggish world economic recovery is bad enough but shipping is also facing increasing complexity around a number of significant environmental regulatory changes on the horizon.

Hotel Navigation Incinerator Energy Management Garbage Sewage Ozone Depletion

Propulsion Engine Room Bunkering Discharges to Air Discharges to Water Discharges to Water Energy Management Discharges to Air Noise

14 AEGEAN NEWS AUTUMN 2017 he new regulations pose a series In other words we need to be balanc- Generic criteria incorporated in of questions and choices that ing short-term urgent matters with me- the design and specifications of all our shipowners will have to address dium term opportunities and threats in new vessels reflect on economically Tfirstly for compliance purposes, but also order to gain benefits from taking the sound, operational excellence, and in terms of efficiency and effectiveness right actions now based on the predict- enhanced safety and environmental of the solutions within each company's ability of the medium term future. protection including the following overall commercial and operational To this effect, Aegean Shipping key elements of Environmental and framework. Each individual aspect of Management has been analyzing a Energy Management (Fig. 2): the forthcoming regulations has been number of scenarios for our medium well documented and analyzed in terms to long term planning and determin- • Review of Company Environmental of key factors, timelines and impacts of ing the strategic environmental ini- and Energy Management Policy the possible choices and technologies tiatives that we believe will provide us • Systematic identification and anal- available (Fig. 1). with the greater rewards or return on ysis of key environmental aspects/ However, it is the overall or holistic investment over a period of time. impacts and their interactions impact that is of paramount signifi- These proactive initiatives have • Energy efficiency optimization cance for companies to fully under- resulted in an enhanced set of Green • Waste management stand, assess and act upon in order Ship criteria, including additional • Fuel management to ensure that, not only a short-term ECO notations which are applied from • Ballast water management compliance is achieved, but more design, construction, operation to • Materials control and recycling importantly an integrated solution for recycling thus demonstrating our com- • Development projects for new/novel providing medium and longer term mitment to running an environmen- technologies benefits towards a commercial advan- tally sound and sustainable business • Fleet Environmental and Energy tage is the key. well beyond regulatory requirements. Management benchmarking

Cargo Operations Ship Activities and Discharges to Water Ballast Water Environmental Impacts Discharges to Air Figure 1

Hull Recycling Coatings

AUTUMN 2017 AEGEAN NEWS 15 AEGEAN SHIPPING

Environmental Regulation Timeline Figure 2

EU MRV certification comes into force IMO Fuel oil consumption Ballast Water Convention data collection system enters into force reporting + SEEMP update 2018 2020 2017 2019

EU MRV reporting becomes EEDI Phase 2 mandatory in EU ports IMO 0.5% global sulphur limit outside ECAs

Specific Criteria

Discharges to Air Discharges to Water • All machinery equipment can op- • Vessel equipment with extra Grey water holding tank accompanied with erate with all distillate fuel features ECO (GW) class notation and comply with additional class • Even more strict limitation at 5 ppm bilge water disposal at sea from MAR- ECO notation requirements POL regulation standards accompanied with ECO (OW) class notation • Option for fitting scrubbers for • Integrated Bilge Water Treatment System (IBTS) Sox limits compliance has been • Equip with new Ballast Water Management System approved by IMO & provided on new buildings with a USCG exceeding class/statutory requirements for Flow Through and Treat- "Scrubber-ready" notation ment Methods: notation BWMP (F,T) • Nox emission control applied to • New tail shaft oil seal interface prevents oil pollution in case of accident Main Engines • Protected oil tanks • Volatile Organic Compound (VOC) • Optimization of Waste Generation and Management on board management • Enhanced Incinerator Specification

16 AEGEAN NEWS AUTUMN 2017 IMO ECA-NOx Baltics/ IMO Strategy on Reduction North Sea Tier III? of GHG emissions? 2022 2021 2023+

EEDI Phase 3?

Materials Energy & Emissions Management • Inventory hazardous materials list • Mew modern propulsion plant with a combination propeller & energy sav- from new-building to in-service to ing devices ensures even higher propulsion efficiency and fuel economy recycling stages accompanied with • Newest technology Main Engine, electronically controlled, enhanced fuel-ef- IHM class notation ficiency, with auto-tuning • Refrigerating plants operating with • Lighting on board are exclusively for new generation LED types ensures even most ecologically-friendly refriger- less power footprint ant medium. • Variable frequency drivers on heavy power consumers • TBT-free hull anti-fouling paints • EEDI performance well within IMO limits system • GHG reporting and monitoring system • Environmentally Acceptable Lubri- cants (EAL) in all oil-to-sea inter- Noise faces of the ship. • Noise levels on board exceeding limits set by IMO New Noise Code • Underwater noise mitigation strategy

ΦΘΙΝΟΠΩΡΟAUTUMN 2017 AEGEAN NEWS 17 THE AEGEAN FAMILY

18 AEGEAN NEWS AUTUMN 2017 Women of Aegean Hard work, determination, sensitivity and strong female role models. The women of Aegean are dynamic, talented and successfully combine career and family life. Seven women in key positions talk to Aegean News about their lives, the people who inspire them, and their thoughts about their future, as well as the challenges women face in the workplace.

AUTUMN 2017 AEGEAN NEWS 19 THE AEGEAN FAMILY Denise Severo Senior Financial Analyst Brazil

rom a young age, Denise Severo “We can’t give up. We have to try— was taught to study hard, work always. Every woman who perseveres hard, and follow her dreams. and reaches her potential in her field F“My mother inspired me to be an is an example,” Denise says. “Our independent woman,” she says, and duty, and our challenge, is to contin- it’s that go-getter attitude that saw her ue the process of opening people’s hit the ground running, starting her minds to the value of women and career in accounting at just 18, at the men working together as equals. We same time that she was enrolling in a have to continue this and continue BA program in the very same field. opening up new opportunities every Today, she holds two bachelor’s day.” This combination of purpose degrees, in accounting and in jour- and ambition is at the heart of her nalism, and an MBA in Energy, En- efforts both professionally and as an vironment, and Natural Resources individual, and she holds good values Law and has 13 years of work experi- to be essential to moving forward. ence in accounting and finance. She “Values give you direction. A person joined Aegean as a Senior Financial who does not have values will do any- Analyst. thing to reach their goals, and that’s Denise acknowledges that women dangerous,” she points out. “Values still face hurdles in the workplace, and confidence—especially in a lead- pointing out that prejudice is still a re- er,” she adds, explaining that being al issue across all industries. “Women Our duty, and our confident in yourself is essential to work hard and often dedicate more inspiring confidence in your team time and effort to executing their challenge, is to continue about your decisions. tasks to the highest standard, but they the process of opening Denise, who has been with Aegean still have to constantly prove they for almost two years, is already plan- are sufficiently intelligent and have people’s minds to the value ning to expand her knowledge and the capacity to work as well as men,” of women and men working skillset with a second MBA, this time she says, explaining that this kind of focusing on auditing and internal con- prejudice and constant demand on together as equals trol. “I am always searching for new women to prove themselves can be things to learn and ways to stay up-to- very disheartening. For Denise, it is date,” she says. And it’s this very spirit one of the biggest challenges women that she wants men in the workplace in business face today, even leading to recognize in their female colleagues. some women to give up their careers. “Women in the workplace are strong, But with a go-getter spirit instilled in face and overcome many barriers to her since childhood, Denise isn’t will- get a position, and have equal capabili- ing to give up. ties as their male counterparts.”

20 AEGEAN NEWS AUTUMN 2017 Panagiota Pratti Senior Purchaser Greece

proud mother of two, Panag- tively impact our family life and vice iota Pratti is one of Aegean’s versa—a situation that is completely Senior Purchasers, with sev- preventable,” Panagiota explains. In Aeral years of experience procuring fact, she believes that the very traits spare parts for the company, as well that make many young women look as serving as coordinator in various forward to motherhood and make departments. Coming from a back- them worry about finding a balance ground in computer programming, it between their professional and family was as much her skill as her belief in lives are traits that can in fact give her own abilities that got her to her them an advantage in the workplace current senior position, and which and in their professional relationships continue to drive her professional with colleagues. growth and development. “I have “At this time, all around the world, my confidence to thank. You have there’s momentum for women—that’s to ignore prejudices and just believe undeniable. The biggest challenge for in yourself,” she says, and is quick to the young generation is to harness this admit that the foundations for this momentum and turn it into tangible came from her mother. “My greatest progress and long-term benefits for inspiration comes from my family and women and for all of society too,” Pa- specifically my mother. She is a strong nagiota says. Not beating around the woman, and she taught me to be true bush, she also acknowledges that it and sincere and as tough as anyone won’t all be smooth sailing. “Women can be,” Panagiota shares. Motherhood features centrally in My greatest inspiration comes from my family and Panagiota’s outlook, in the way she sees her own life as well as the world. specifically my mother “Getting married and having my two wonderful children was the best deci- continue to face a significant challenge sion I’ve ever made,” she says without to the extent that the business world hesitation, but she also points out that isn’t quite accustomed yet to accepting for many women in the workplace, women as leaders.” But the way to tack- that desire to have both a family and a le this and demonstrate the ability to career can actually become an obsta- lead is through integrity and through cle, a result of the misconception that the three key pillars of mission, vision, it’s a choice between one or the other. and values. “Values drive us,” Panag- “In this sense, we can become our iota points out. “They are both inspi- own worst enemy, getting caught up ration and aspiration, and in satisfying in thinking that our career will nega- them, we give our best efforts.”

AUTUMN 2017 AEGEAN NEWS 21 THE AEGEAN FAMILY Ekaterina Koreneva Bunker Trader Russia

rmed with a master’s degree company as growth and profits,” Ekat- in Economics, Ekaterina Ko- erina says. “It shapes the company’s val- reneva began her career in the ues, beliefs and business principles and Abunkering industry in 2003 and, within determines the role that the company a little more than a decade, was promot- wants to play in society.” And of course, ed from administrative support to Area there’s always room for improvement, Sales Manager for North-West Russia for developing new skills and ways of and then to Lubricants Trader, working thinking, as a company, as a team, and with key Russian, Latvian, and Danish as individuals. Ekaterina is the first to companies before taking up her current admit that she’s constantly pushing her- position as Bunker Trader with Aegean. self. “I’m constantly challenging myself, One of an increasing number of women in various fields and activities, from im- to join the industry, she is very aware proving my English and learning other that despite growing numbers, women languages to training in various sports, still face barriers in the workplace. doing dance and even painting—sport “More and more women come into improves cognitive function and cre- bunkering and shipping every year, but ative activities help you to think outside in most companies, it’s still an exception the box ” she explains. to see women in managerial positions,” Creative thinking and life-long Ekaterina notes, adding that while learning are becoming increasingly being just as capable as men and even essential, key to both personal and pro- having an advantage in multitasking, fessional development, but Ekaterina women can often unwittingly hold points out that to achieve success in themselves back. “Women tend to be It’s important that women the workplace, you need more than just more careful in their intentions and learn to recognize their qualifications, especially if you’re look- often underestimate their abilities and ing to keep it up in the long run. “My skills. So it’s important that women achievements and their mum always taught me—and continues learn to recognize their achievements skills and try to apply them to teach me by example—to be strong and their skills and try to apply them and wise, to never give up and to always more boldly,” she explains, and this is an more boldly be level-headed and warm-hearted,” she area where good leadership can really says. It’s that combination of skill, per- shine through, setting the example and severance, and openness that is so es- inspiring even more people to make a sential to moving forward and keeping difference. Just as important to good up in a fast-paced workplace. “The next and effective leadership as having the generations, men and women, will have drive and the capacity to inspire oth- to work more than our generation,” ers, is having a clear sense of mission. Ekaterina says, “so my advice would be “Having a mission is as essential for a to choose your career with your heart.”

22 AEGEAN NEWS AUTUMN 2017 Sina Groth Bunker Trader Germany

y best decision has been key leadership qualities, a penchant for entering the shipping making connections is only part of the business and working in puzzle: Looking to oneself and connect- “Ma dynamic and fast-moving environment ing to one’s own thoughts and feelings that keeps you in touch with people is equally as important as being able to around the world,” says Sina Groth right network and perform socially. “Good off the bat, not leaving any room for leaders must have empathy and vision,” doubt about her love for the job. Starting Sina says. “The ability to recognize and her career as a shipbroker, Sina soon relate to other people’s feelings is crucial moved to bunker trading and subse- to creating a supportive environment to quently joined Aegean. nurture and promote excellent outcomes, Driven and also committed to up- particularly in diverse groups with dif- holding key values like honesty and ferent histories, perspectives, values and loyalty, Sina laments the lack of practi- cultures,” she explains. “And of course a cal loyalty and support that women in good leader is able to effectively manifest business often experience, particularly their vision by setting specific, achievable from men. “There are too few men who goals, initiating action, and successfully are eager to advocate for and mentor enlisting the team’s support.” female entrepreneurs, and although These key leadership qualities are more and more women are embracing bound to play a key role in a fast moving entrepreneurship, they often face chal- business environment that is rapidly lenges not typically shared by their male changing yet in many ways staying the counterparts,” Sina says. She notes that same. “The biggest challenge for the women’s contribution to the workplace Whether it is for potential coming generation of women will be is beneficial across the board, as women business alliances, sales gaining equal access to jobs, achieving tend to present a healthy balance of am- equal salaries, and having the flexibility bition and humility—but she’s also quick or marketing, making to combine work with raising children to point out that excessive humility can connections is vital for while sharing equally in household quickly get in one’s own way, leading to duties with their partners,” Sina says, missed opportunities. “One mistake I business growth pointing to one of the key issues im- often see women in business make is do- pacting women in the workplace and ing too little networking,” Sina explains. keeping them from reaching their full “Networking is an unwritten rule of suc- potential. “The responsibility of family cess in business. Whether it is for poten- falls disproportionately on women, and tial business alliances, sales or marketing, it is that lack of equilibrium that we must making connections is vital for business address, to ensure that is doesn’t prevent growth.”Taking it one step further, Sina women from pursuing their professional goes on to say that when it comes to development.”

AUTUMN 2017 AEGEAN NEWS 23 THE AEGEAN FAMILY Yenei Eng Chang Chief Accountant / Executive Assistant Jamaica

hether Yenei Eng Chang self-confidence. It can move moun- is talking about the peo- tains!” she says. And belief in one- ple who inspire her or self is indeed essential when having Wher plans for maintaining her com- to juggle multiple roles within and petitive edge, she keeps bringing outwith the workplace. “One of the the focus back to education— biggest challenges women in busi- throughout all ages and areas of ness face today is balancing their life, from her own time at univer- roles and responsibilities between sity to teaching values to the next work and the home, especially if generation. they do not have a good support “Malala Yousafzai has had a tre- system,” Yenei admits, adding that mendous impact on me. Her cour- the increasingly complex fabric age and her determination to stand of society can make that task ever for girls’ and women’s right to educa- more challenging. tion are admirable,” Yenei says. The way forward is in keeping Yenei considers her own decision a positive outlook and focusing on to pursue a bachelor’s degree in the things that matter: family, hard Economics to be the best decision work, and diligence. “My mother she’s ever made, and her career to is an inspiration to me every day. date proves it. With twelve years of In the face of all her problems, she experience in accounting under her always smiles,” says Yenei. That belt, Yenei joined Aegean as Chief optimism also feeds back into her Accountant for Aegean Bunkering passion for education, fueling the Jamaica. “The experience has been The key is to have drive for self-improvement, which is very rewarding,” she says, but she self-confidence. It can essential in this line of work. acknowledges that for many women “Shipping is a dynamic industry across multiple industries there are move mountains! and, as such, demands continuing still considerable hurdles to over- education and training. That’s why come in the workplace. I attend courses that are beneficial “I think the most significant bar- to the company and relevant to my rier to women professionals today career,” she explains. Clearly driven is that they need to do more than and determined to excel, Yenei is ad- men to prove themselves,” Yenei amant about the importance of look- says, adding that that can create a ing to the future, setting goals and vicious cycle whereby many wom- going after your dreams. “I believe en fall into a pattern of depending that having a clear vision of what on recognition for their efforts to we want is the recipe for success, in feel motivated. “The key is to have every aspect of our lives.”

24 AEGEAN NEWS AUTUMN 2017 Christine Marzullo Bunker Sales Associate USA

omen are expected to about the importance of strong female be both super-moms role models. As Bunker Sales Associate, and super-employees, Christine exhibits that same drive and “Wand that is a huge challenge for this motivation, staying focused on the tasks generation of women,” says Christine at hand and successfully accomplishing Marzullo, not pulling any punches. “To her goals. But she stresses the impor- make it work, it’s important to find a tance of having the necessary support, balance and to have a supportive family both at work and at home, in order to and a support network to help manage excel. While women in the workplace the priorities. Having a supportive part- still have to manage multiple priorities ner who shares the childcare and home- and society’s expectations, Christine care responsibilities can make all the stresses that there is also much that they difference.” Joining Aegean, Christine have to offer. “There are lessons men brought with her 40 years of experience can learn from their female colleagues with HESS, a top US-based energy and like organization, multitasking, empa- bunkering company, including almost thy and understanding,” she explains a decade of experience in the bunkering but adds that there are many more ways industry. She also brought to the table to learn, grow, and develop in the work- the valuable understanding of the im- place and different ways to share knowl- portance of good management, having edge and skills. “Working with younger enjoyed first-hand the benefits of having people helps me grow professionally. I a supportive and inspiring manager. “I learn new things from them and they remember the first manager who really keep me energized and in the modern inspired me and became a very positive The biggest challenge world!” It’s in this back and forth that figure in my life. He taught me a great for all of us is to fight good workplace dynamics and leader- deal. He was supportive and motivating ship are based. “Energy and motivation and helped me grow as an employee and against deep-rooted male for the work and for the people who are an individual,” Christine shares. and female stereotypes part of the team are essential qualities in Just as she draws strength from those a good leader” Christine says, empha- close to her, Christine doesn’t have to sizing the importance of supportive and look far for inspiration. “One woman inspiring managers and team leaders in that has had a tremendous impact on realizing the potential of each individu- me has been my cousin Catherine. She al in the team. And stresses the need to is extremely independent, driven and overcome challenges in a constructive motivated. She has her own business, way and even out the playing field. “The and has continued to succeed despite biggest challenge for all of us is to fight experiencing personal challenges,” against deep-rooted male and female Christine says, driving home the point stereotypes,” she says.

AUTUMN 2017 AEGEAN NEWS 25 THE AEGEAN FAMILY Anna-Maria Karakasi Senior Bunker Trader Germany

ersonal growth and devel- she says. But women manage to adapt opment require more than and manage it all. The importance of just education and study— taking ownership of the different roles “Pthey require constructive dialogue, and delivering on each front was some- an exchange of vision and knowledge thing that Anna-Maria learned from that inspires and leads to new ideas,” her grandmother. “My grandmother says Anna-Maria Karakasi. Seeking had tremendous impact on me. Like knowledge is just part of the equation; many women of her generation, she was openness to learning is the other. This born just before the war and was raised quality is important in academia and in in poverty and without any education. the workplace. “Unfortunately gender She believed that a woman should be inequality and stereotypes still exist, es- independent and that the road to that pecially in industries like shipping that was through education. She taught her are dominated by men, where one can daughters and subsequently my cousin see women grow discouraged by having and me never to let inequality between access to fewer opportunities than men the sexes dishearten us. She taught me to and leave the industry early in their take a stance against it and to never quit.” career. When women exit the indus- Taking the advice to heart, An- try, male colleagues miss out on the na-Maria pursued her education and opportunity to learn something from completed her BSc at Panteion Univer- them. Men tend to be very opinionated sity and then the MSc in Energy, Trade and rarely draw lessons from women, and Finance at Cass Business School on but there is much they can learn from a Stelios Scholarship. “That led me to working together. I would encourage Women are no longer the shipping world and to the family of my male colleagues to learn from wom- followers. We have more Aegean,” says Anna-Maria who joined en the ability to multitask, set priorities, Aegean straight after graduation and is and quickly adapt to changing condi- opportunities than ever now Senior Bunker Trader, working out tions. As per Charles Darwin’s theory, it before to lead, and we of Hamburg. “Women are no longer is not the strongest who will survive but followers. We have more opportunities those who can best manage change.” shouldn’t be afraid to make than ever before to lead, and we Indeed, adapting to ever-changing decisions and take chances. shouldn’t be afraid to make decisions environments and roles is something and take chances”. Going back to her that Anna-Maria believes women excel core values and her belief that openness at, as the new generation of women and adaptability are key to success: “The learns to juggle different roles success- values you are raised with give you vi- fully. “Being a wife, a mother, a woman, sion. It’s not hard to make decisions a professional—and most of the time for when you know what your values are. lower wages than our male colleagues— Leadership is just that: the capacity to is the biggest challenge women face,” translate vision into reality.”

26 AEGEAN NEWS AUTUMN 2017 BUNKERING

New Cooperation Agreement with Freepoint Commodities LLC

On August 30, 2017, Aegean Marine Petroleum Network Inc. and Caribbean Bunkers LLC, a subsidiary of Freepoint Commodities LLC, announced the signing of an agreement to cooperate on bunkering sales, focused around the U.S. Virgin Islands facility at Limetree Bay, St. Croix.

s of September 2017, Aegean been remarkable since the terminal a core strategy in our global oil plat- has been marketing bun- was purchased in 2016,” said Manolis form. The St. Croix Limetree Bay facili- ker fuels and marine gas oil Chochlakis, Aegean's Regional Man- ty has brought a lot of promise to the Asupplied by Freepoint to customers ager of the Americas. "We believe region and continues to grow at an im- calling on the Limetree Bay facility working together with Freepoint, an pressive rate. We are fortunate to have on St. Croix. The agreement calls for equity partner in the Limetree Bay the opportunity to develop a strong future expansion in the region that facility, provides us both with incen- base of operations on the island and could lead to adding delivery capabil- tives to jointly grow our presence in believe this new venture is a perfect ity through Aegean's fleet. the region. The Aegean and Freepoint complement to our existing business," "We are pleased to announce the teams are experienced groups that he continued. "We have worked with launch of our new service center in St. have worked well together in the past. Aegean for a number of years and are Croix USVI, which strengthens our They will ensure our customers in the privileged to be cooperating with a existing presence in the Caribbean and Caribbean get first class service." company that is so well-respected in represents another important step in Freepoint’s Senior Managing Direc- the industry. We believe this agreement our effort to broaden our global foot- tor, Global Oil, Rob Peck, said that the will be extremely beneficial to both print in attractive markets. The growth company was “excited about develop- companies as we expand and optimize and activity level at Limetree Bay has ing this business. We envision it will be our business in the Caribbean."

AUTUMN 2017 AEGEAN NEWS 27 STATIONS OF THE MONTH A Renewal of Trust Anastasios Ioannidis, Skydra

Aegean News spoke to Mr. Ioannidis about his service station in Skydra and his experience in the fuel business.

Mr. Ioannidis’ service station Tell us about the area in which your service station is located. Our service station is located on the main road between Skydra and Mav- rovouni, just off the highway that con- nects Edessa with Giannitsa (E86). It is a central location that gets a lot of traffic. In the four months that we have operated this station, I have no- ticed that about 70% of customers are locals and the other 30% are tourists passing through the area. MAVROVOUNI Can you tell us a bit about your busi- SKYDRA | 340.780323, 22.154746 ness? How many people do you employ? Skydra is a town in the Pella prefecture in northern Greece. It is the seat of the We carry a full line of fuels, from 100- Municipality of Skydra and is situated in the center of a fertile valley, at an altitude RON to D-Force, and we even carry gas of approximately 40 meters above sea level and at a distance of 15 km from Edessa, oil. We have a car wash and lube bay, the prefecture’s capital. It is an important agricultural center in the region, with as well as a café. During the winter, we significant fruit-production and fruit-processing output. carry out deliveries of heating oil using our own tanker truck. That’s our bread and butter. In all, we employ four people. The personal touch made such an impression on me that even though I was about to sign with another supplier, How long has this station been in operation for? And for how long have you I chose to join Aegean been in the fuel business? This station has been up and running stations that Aegean was building in either side, we would not have chosen for about four month now. Our other the area around that time, and I really to work with each other again at this station has been in operation since liked what I saw. In the end, I chose new service station! The collaboration 2000. We’ve been with Aegean since the Aegean after personally meeting Mr. has been exemplary. beginning, for 17 years now. My family Iakovos Melissanidis and Aegean’s has been in the business since 1969. I other executives in the region. The What do your customers think of Ae- joined in 2000, but I often helped my personal touch, and his humility, made gean? grandfather with it even before that. such an impression on me that even To date, our customers are more than though I was about to sign with an- satisfied with Aegean’s products. What made you choose Aegean, which other supplier, I chose to join Aegean. We’ve signed up for the Wednesday back then was still a relatively new Deal plan, so every Wednesday, cus- company in the fuel retail sector? What is working with Aegean like? tomers can fill-up on D-Force fuel for I happened to see one of the service Had there been any complaints from the price of our standard fuel.

28 AEGEAN NEWS AUTUMN 2017 An Increase in Sales Kostas and Dimitris Tsakalis, Palairos

The service station of Kostas and Dimitris Tsakalis is located in the seaside village of Palairos in Aetolia-Acarnania. Mr. Kostas Tsakalis spoke to Aegean News about the business he operates with his brother.

The service station of Kostas and Dimitris Tsakalis What can you tell us about the area? The service station is located in Palai- ros in Aetolia-Acarnania, which is a seaside village on the west coast of Greece. Most of the locals work in tourism and in farming and animal husbandry. Our station is on the main road, in a very busy spot, near the exit from Palairos to Vonitsa.

Tell us a bit about your customers. 1st KM PALAIROS – VONITSA P.R. Between October and Easter, we most- 38.795485, 20.880768 ly serve locals from the area, people passing through on the way to Lefkada Palairos is a village in the Municipality of Aktio-Vonitsa in western Greece. It is located and Vonitsa, and of course profession- on the eastern shores of the Bay of Palairos, 100 km northwest of Messolonghi, at an altitude of 20 meters above sea level. It was known as Zaverda until 1928. al drivers. It is much busier during the tourist season, as there are a lot of hotels and resorts in the area, and the They were able to immediately offer solutions to all the airport is quite close too. issues at hand Talk to us about your business and the services you offer. How long has this grew up here. At some point, we both resentatives. We instantly took to the service station been in operation, and left to go study, but after we graduat- family atmosphere, and they were able for how long have you been in the fuel ed, we came back and started working to immediately offer solutions to all business? here. Today we have ten employees. the issues at hand. They’ve been by My brother and I have two stations. our side since day one whenever we’ve One of them just sells fuels and lubri- Since when have you been collaborat- needed anything. Aegean is constant- cants and the other is a full service sta- ing with Aegean? ly evolving and growing, and we hope tion. In addition to selling fuels and lu- We partnered up with Aegean in to do the same as well. bricants, this also has a car wash, lube March 2015. bay and tire repair service. And there’s How do your customers respond to a restaurant too. We also do deliveries How did you choose Aegean? What is the Aegean brand and the company’s of heating oil, but the market for that your impression of the company and how products? isn’t big around here. has working with Aegean been so far? Our customers are very happy with We run a family business. My fa- We were having some trouble with our switch to Aegean. We also noted ther started this station in 1985, and our previous supplier, so we decided an increase in sales after refurbishing now I run it with my brother. We both to take a meeting with Aegean’s rep- the station.

AUTUMN 2017 AEGEAN NEWS 29 MARITIME TRADITION The Greek Shipping Hall of Fame

A digital treasure trove celebrating the accomplishments of the extraordinary individuals that shaped Greek—and international—shipping, the Greek Shipping Hall of Fame has set out to become an invaluable resource for the younger generations and anyone wanting to discover the fascinating history of modern shipping in Greece.

Aristotle Onassis Stavros Niarchos Yiannis Carras

he Greek Shipping Hall of serve as a depository of information Academy, which today comprises more Fame is an independent not- on Greek shipping, a valuable re- than 200 members representing the for-profit organization dedi- source that showcases the industry’s Greek shipping community. Votes are Tcated to honoring the Greek shipping astounding achievements in the ser- cast online in October of every year, industry and the remarkable individu- vice of international trade and trans- and the process is overseen by the inter- als who have shaped it over the years. portation, and presents its fascinating national audit firm Deloitte, to ensure It began in 2007 and was formally story to ever-new audiences and utmost transparency. New inductees inaugurated in 2013, with an event at younger generations. are announced at the annual Induction the Megaron – Athens Concert Hall Ceremony and Dinner, which is held and the launch of its website and on- The Induction Process in April each year at Megaron – Athens line Hall of Fame gallery. Today, the Each year, no more than two or three Concert Hall. The induction process is gallery showcases 26 key figures who individuals are selected to join the ex- completed with the addition of the in- have made their mark on Greek and clusive gallery of Greek shipping greats, ductees’ profiles on the Greek Shipping international shipping from the 19th and nominations are only accepted Hall of Fame online gallery. century on. The website also hosts ad- for deceased historical individuals. Nominations for the 2017-2018 ditional material about the inductees, Inductees are then selected by vote of Induction Season closed on Septem- such as photos and profiles, as well as industry representatives. From 2007 ber 8 and voting will take place, as video interviews with friends, relatives to 2011, the inductees were selected by usual, during the month of Novem- and business associates. an independent committee comprising ber. New inductees will be announced First and foremost, the Greek Ship- ten key figures in contemporary ship- in April 2018. ping Hall of Fame aims to pay tribute ping. Since 2012, inductees are selected to its inductees. But it also aims to by the Greek Shipping Hall of Fame Source: greekshippinghalloffame.org/

30 AEGEAN NEWS AUTUMN 2017 TRAVEL WITH AEGEAN Porto Rafti Stretched amphitheatrically around Raftis Bay, on the east coast of the Attica peninsula, and looking out over the Aegean Sea, Must See Brauron The ancient Sanctuary of Artemis at Porto Rafti has long been a favorite destination for Athenians: a Brauron, which flourished between the 8th and 3rd centuries BC, is an early sacred site situ- fabulous year-round getaway for singles, couples and families ated at a distance of five kilometers from Raftis alike, and especially during the warm months. Bay. The adjacent Archaeological Museum of Brauron showcases an extensive collection of artifacts recovered from the site, covering a period from the early 2nd millennium BCE on. Erotospilia Only a short distance from Porto very popular seaside resort town in East Attica, Porto Rafti is part Rafti, the small and sandy Erotospilia—which of the municipality of Markopoulo Mesogaias. It is conveniently literally means the ‘Cave of Love’—is one of located just a short ride from Eleftherios Venizelos Athens Inter- the most popular beaches in Attica. Favored Anational Airport and a 40-minute drive from downtown Athens via the by locals and tourists alike, the beach has a canteen/bar and offers visitors a variety of Attiki Odos highway. In addition to the numerous marvelous beaches in beach and water sports options. the area, the region of Mesogaia is also known for its fine vineyards and St. Spyridon Bay The area boasts a number excellent local produce, including figs and pistachios. of great tavernas, cafes, and beach bars along The port was a major trading hub until the collapse of the Roman Em- its picturesque seafront. Its beach itself is also pire. During antiquity, the area around the bay of Porto Rafti was part of worth visiting: Sheltered from north winds the ancient deme (ancient administrative divisions or villages) of Steiria, and boasting crystal-clear waters, it is ideal Prasiai, and Koroni, which belonged to the coastal Pandionis phyle (clan), for swimmers who enjoy a dip well into the following the administrative reforms of the ancient Athenian democracy autumn months. introduced by Cleisthenes in the early 5th century BC. Avlaki Beach Avlaki is an exquisite, easy-to- reach beach and one of Greece’s Blue Flag Today, the port of Porto Rafti is no longer in use as a commercial har- beaches. Visitors can enjoy a range of ame- bor due to environmental concerns, but its marina can still accommodate nities, including beach loungers and beach smaller recreational vessels and features a number of seaside restaurants umbrellas, a beach bar and a restaurant. The and cafes. This port was the scene of the allied troops' evacuation after the beach is also monitored by lifeguards and there German invasion in Greece at the end of April 1941. is a medical unit on standby for emergencies. Koroni Peninsula The Koroni peninsula, an area of great archaeological significance, is situated just southeast of Porto Rafti. Archae- ologists have made great discoveries about its role in the region in the 3rd century BCE. The small, modern settlement of Koroni was built in the 1960s and is situated in close proxim- ity to a fantastic wild beach. The Markopoulo Racetrack In 2003, the Athens Racecourse relocated to Markopoulo, near the site where ancient Myrinounta stood 5,000 years ago, just a few kilometers from Raftis Bay. The new racecourse includes the main track where all horse races are conducted, the main paddock for the parade of the horses before each race, and the stables. In addition to the races, the racetrack also hosts various events that aim to appeal not just to racing afi- cionados but to the general public as well. Aegean service stations

AUTUMN 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 inter- nationally 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 AUTUMN 2017