Aegean Present at Industry Events Marine Lubricants Global Aegean Network Interview Constantine Michalos President, Athens Chamber of Commerce and Industry (ACCI) Plus Flows & Currents Travel with Aegean Aegean News SUMMER 2013 T H E Q U A R T E R L Y M A G A Z I N E O F A E G E A N New Aegean Station Algeciras, Spain
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Νέος Σταθμός AegeanAlgeciras, Ισπανία
Η Aegean σε Εκδηλώσεις της Ναυτιλιακής Βιομηχανίας
Ναυτιλιακά Λιπαντικά Το Παγκόσμιο
Δίκτυο της Aegean
ΣυνέντευξηΚωνσταντίνος Μίχαλος Πρόεδρος του Εμπορικού
και Βιομηχανικού Επιμελητηρίου Αθηνών
(ΕΒΕΑ)
ΑκόμηΤάσεις & Εξελίξεις
Ταξίδια με την Aegean
Aegean NewsΚΑΛΟΚΑΙΡΙ 2013
ΤΟ ΤΡΙΜΗΝΙΑΙΟ ΠΕΡΙΟΔΙΚΟ ΤΗΣ AEGEAN
AegeanPresent at
Industry Events
Marine Lubricants
Global Aegean Network
InterviewConstantine
Michalos President, Athens
Chamber of Commerce and Industry (ACCI)
PlusFlows & Currents
Travel with Aegean
Aegean NewsSUMMER 2013
T H E Q U A R T E R L Y M A G A Z I N E O F A E G E A N
Today’s globalized world offers a wealth of op-portunity. At the same time, risk and uncertainty are constant companions. The price of oil, or gold, for instance, can fluctuate quickly as international events prompt immediate reactions in the markets.
Likewise, we are uncertain about future energy stores. Is peak oil a real concern? Are there, perhaps, untold carbon energy deposits to last us for centuries?
Will new technologies rapidly take their place along side our current stand-bys? Or replace them?
Such uncertainty requires that successful companies hedge their bets—plan for the best but prepare for the worst.
One of the most valuable characteristics to employ, in order to operate at optimal levels in such an environment, is strategic foresight—calculated plan-ning with a number of scenarios on the table.
Aegean, in its steady expansion, in both Greece and internationally, has made the habit of looking beyond what today’s headlines report. Aegean understands that oil at 100 dollars requires a different approach than oil at 200 dollars.
Environmental protection means being prepared for disaster while cultivat-ing best preventive practices. It is clear that in shipping, for example, safer and stronger will be global requirements, not just regional ones.
Building in flexibility to long-range planning—with multiple scenarios—is key to managing risk and uncertainty. Anticipating fragility in the markets, and building anti-fragile support systems, is not an easy task, nor does one always get it right.
But being cognizant of timing, recognizing opportunity, and, as we have said, employing foresight, are powerful practices that can help balance risk and manage uncertainty—valuable in today’s unpredictable market.
editorialRetail
AEGEAN OIL has established a gas sta-
tion network throughout Greece, and is
one of the fastest growing companies
in the retail market. AEGEAN’S gasoline
market share in Greece is 8%.
Shipping AEGEAN SHIPPING manages a fleet of
tankers, ranging from 3,500DWT to
100,000 DWT, that transfers and delivers
oil to our clients throughout the world. All
ships meet ISM standards.
Bunkering In Piraeus, Patras, Gibraltar, Amsterdam-
Rotterdam-Antwerp, Fujairah, Jamaica,
Singapore, Trinidad & Tobago, Portland
UK, Vancouver, Montreal, Mexico, Tangiers,
Tema in Ghana, Las Palmas and Tenerife,
Panama, and Hong Kong, AEGEAN MARINE
PETROLEUM is a leader in providing the
best bunkering services available. AEGEAN
MARINE PETROLEUM is the market leader
in bunkering.
Agency Services Ships from around the world rely on AEGE-
In the spirit of "healthy mind in a healthy body," Aegean has always supported sports. Aegean NWE NV is proud to be the shirt-sponsor of the local Under 8 ST-JOB youth team in an effort to support local community activities since 2012. This team is one of the youth teams of KFC ST-JOB (Belgian 4th division) and they had a superb 2012-2013 season. They won two tournaments and only lost four games during the local competition. The new Aegean outfit gave them that little extra to succeed big!
Striker Quinten Collard in action
Group photo with 1st Division player Hernan Losada
Νew Aegean EmployeesThe following employees have joined the Aegean work force.
AEGEAN BUNKERING SERVICESKonstantinos Nikolaou
AEGEAN OILChristos ThymisChristos Zigras
MELCO PETROLEUMVasilios Skiadas
AEGEAN MANAGEMENT SERVICESEleni Orphanidi
On April 16, 2013 a joint fire and res-cue drill was carried out with the par-ticipation of the Harbor Master of the Port of Patras, the Shore Fire Squad, the local agent, and the M/T Aegean Breeze I crew, while the vessel was alongside. The scenario involved a fire in the galley, resulting in one seafarer being injured, and a subsequent fire
developing in the ship’s compartment. In the exercise, all parties were noti-fied immediately. They mobilized and reached the moored vessel within ten minutes. The shipboard Fire Squad, which was already informed, prepared safe means of access, by both sea and shore, to the waterborne and land-based teams respectively, providing
the necessary assistance and enabling them to enter the affected confined space to successfully rescue the sea-farer. The planning and coordination of the well-organized teams resulted in a successful execution of the combina-tion exercise, proving that staff from different sectors can effectively coordi-nate in a common rescue operation.
Ship-Shore Fire and Rescue Exercise on Aegean Breeze I in the Harbor of Patras
Collaborating parties after fire-rescue drill M/T Aegean Breeze I during exercise in the Port of Patras
NOR Shipping Exhibition is one of the world’s largest international shipping exhibitions and takes place every two years. This year it opened its doors for the 24th time in Lill-estrom, Norway on June 4, 2013. The event proved highly successful as at-tendance was huge, with 1,037 com-panies from around the world. Ac-cording to estimates, traffic exceeded
15,000 visitors and outperformed all previous years.Aegean and Hellenic Environmental Center were the only Greek compa-nies attending the four-day exhibi-tion, with respective stands. As sole representatives of their sector from Greece, Aegean and HEC undertook the responsibility to not only showcase themselves, but Greek shipping in gen-
eral. Without a doubt, they achieved their goal, as both stands were im-pressive. The exceptional presence of representatives of the two companies attracted great interest. Nearly the entire body of the conference’s visitors visited Aegean and HEC’s booths, and reviews were positive, making the two companies worthy ambassadors of Greek shipping.
Maria Damanaki, European Commissioner for Maritime Affairs and Fisheries
Conference room view Conference participants
On May 21-22, 2013 Malta hosted a conference in honor of Euro-
pean Maritime Day, which is celebrated annually on May 20. The
conference took place in Valletta under the auspices of the European
Union (Marine Division) and the relevant Ministries of Malta.
HEC was present with Research and Development Director Mich-
alis Psaromichalakis and Commercial Development Director Christos
Deyiannis.
Maria Damanaki, European Commissioner for Maritime Affairs and
Fisheries, delivered the keynote speech. The central theme of the
conference was the development of marine tourism and its impacts
on the environment. Given the importance of that event and the
key personalities who attended, Euroshore (International Trade As-
sociation of port reception facility providers in Europe and beyond)
organized its Annual General Meeting alongside this Congress, also
in Valletta.
The dominant theme of the General Assembly concerned the revision
of the European 2000/59 RC Directive on the institutional frame-
work of Reception Facilities in European ports.
Mr. Psaromichalakis and Mr. Deyiannis also represented HEC at the
General Assembly.
A E G E A N U P D A T E
HEC in Malta
Through its subsidiary, Temeteron Ltd., Aegean Oil manages the gas stations on the Athens-Thessaloniki highway at Almyros, Volos and on the Athens-Kalamata highway in Arfara.Moreover, the company self-manages five stations (four in Athens and one in Alexandroupolis) and in July Ae-gean will have begun self-operating two more stations in Attica.In addition, Aegean, in the context of strategic cooperation with Mari-nopoulos, took over management of eight additional service stations. These stations are located in the area of the Carrefour-Marinopoulos supermarkets in Athens (Piraeus street at Neo Faliro), Agrinio, Argos, Drama, Ioannina, Katerini, Larissa, and Trikala.According to the Deputy Manag-
ing Director of Aegean Oil Antonis Papadakis, Aegean’s main business is oriented toward cooperation with gas station operators, who manage a total of 500 service stations.Aegean’s decision to operate a small number of stations as CO-CO busi-nesses (Company Owned - Company Operated), will boost cash flow and will contribute to the implementation of trade policy in specific geographi-cal areas and in no way interferes with the main policy to manage its stations via partner station operators.The entire Aegean service network is known for its smart and clean appear-ance and the courtesy of its employ-ees, and its main objective remains to offer services under the highest qual-ity standards, as Aegean originally established and implemented.
Self-Operated Stations by Aegean
Aegean service station by the Athens-Thessaloniki highway at Almyros
Aegean service station at Carrefour on Pireos Street
Rally AcropolisFor yet another year the Rally Acropolis
organizer chose Panagiotis Thodis’ ser-
vice station in Loutraki to be the official
off-base supply point. This comes as
no surprise. During the previous event,
visitors and groups left the service sta-
tion with the best of impressions due to
the quality of service, and above all, the
great attitude of the staff. Therefore,
after last year's successful three days
of WRC (World Rally Championship), the
organizing authority renewed their con-
fidence in the Aegean Oil service sta-
tion and its people, who have performed
their duty successfully and profession-
ally for another year.
Aegean Oil gas station in Loutraki during Rally Acropolis
Aegean at the 34th International Bunker Conference
The 34th International Bunker Confer-ence took place on April 24-26, 2013 at the Clarion Post Hotel in Gothenburg, Sweden. BI Norwegian Business School organized the event. It is the world's longest running and most respected bunker conference and has remained a proactive forum for more than a gen-eration since its introduction in 1979.Piraeus HQ Bunker Traders Anna-Maria Karakasi and Hara Fikiri repre-sented Aegean.
IBC takes place every year in Norway or Sweden and focuses on the rapid changes of the industry. This year's topic was: Compliance—Smooth Sailing or Costly Confusion?More than 150 participants, mostly from North European countries, joined the event. The panels consisted of physical suppliers, bunker traders and brokers, surveyors, lawyers, and shipping companies. There were interesting discussions about LNG road map-emerging bunkering infrastructure developments, the new sulphur legislation, and a number of environmental issues. Aegean’s presence at IBC indicates the company's belief that such meetings pro-vide a good opportunity for the main players of the industry to gain know-how and expertise from shipping community professionals.
Voluntary Blood Drive at Aspropyrgos
A scheduled voluntary blood drive took place at Aegean facilities in Aspropyrgos in
early summer to support the company’s blood bank. Each phial of blood is valuable for a
fellow human being and so the motto was: We do not donate our blood- just 10 minutes
of our time.
The following Aegean employees voluntarily donated blood: Christos Vassilopoulos,
George Gakis, Kostas Glikos, George Ziglis, Efstratios Kakalis, Fotis Kalamaras,
HEC was present at the 28th IAPH conference in Los Angeles as an official sponsor.
HECat the 28th IAPH Conference
In 1955 the city of Los Angeles hosted the first World Congress on ports. 34 ports from 14 countries
participated and IAPH was established.Today, 200 ports and 150 companies
and institutions from 90 countries par-ticipate in IAPH, a nonprofit interna-tional association. With headquarters in Tokyo, IAPTH is the only voice express-ing ports worldwide, as it is recognized by the UN as an official consultant in the field of maritime cooperation.
On May 6-10, 2013, 58 years af-ter IAPH’s introduction, Geraldine Knatz, president of IAPH and Execu-tive Director of the Port of Los Ange-les, had the responsibility to organize the most successful conference, in the same city where it was originally es-tablished, completing her presidential tenure in the best way possible.
More than 200 ports attended the 28th IAPH Conference, while more than 500 delegates examined the full range of topics on the responsibilities of world shipping.
The conference was comprised of four working sessions that gave par-ticipants the chance to learn about the latest developments in the global shipping industry, its impact on the environment and the safety of ports, and to promote international coop-eration between ports.
HEC was an official sponsor and participated with a three-member del-egation. HEC was the only represen-tative of waste reception facilities in
ports with a presence in the working sessions and with an exhibition booth, which became a point of reference for both exhibitors and delegates for its discreet yet substantial contribution to the objectives of the conference.
HEC considers its participation at
the 28th IAPH conference successful, as it opened new channels for expan-sion abroad and demonstrated that Greek creativity, combined with per-sistent effort, is the best ambassador of our country internationally and the way to successful development.
The opening of the conference
Michalis Psaromichalakis, Gerarldine Knatz and John Agiostratitis
The 16th annual Athens Chamber of Commerce and Industry (ACCI) award ceremony took
place at the Megaron Athens Concert Hall on June 12, 2013. ACCI awarded businesses and
entrepreneurs who demonstrated remarkable business practices during this past year.
ACCI Αwards Aegean
Representatives from the po-litical and business world were present at the ceremony.
Prime Minister Antonis Samaras ad-dressed the businessmen, and Devel-opment Minister Kostis Hadzidakis presented the awards. Aegean Marine Petroleum was honored with the award for Export Activity and Inter-national Presence. "This distinction is a recognition and reward for your activities in the business arena, but also serves as an example for creating new business initiatives," said ACCI president, Constantine Michalos, in
his letter to Aegean founder, Dimitris Melissanidis.
During his speech at the ACCI award ceremony, Mr. Melissanidis said that this distinction rewards him for the last 18 years and his efforts on both a personal and corporate level, and the hard work and continuous investments in international markets, in a sector dominated by large multi-national companies and fierce compe-tition. He also said that despite the adverse conditions, Aegean, a Greek multinational company fueled by Greek soul and pride, has managed to
become the largest independent fuel supplier in the world. Mr. Melissani-dis emphasized the importance of creating an appropriate business envi-ronment in Greece that will encour-age domestic and foreign investors, and that all Greek businesspeople, currently investing in foreign markets, wish to also invest in Greece to assist the country’s efforts for development. Finally, Mr. Melissanidis thanked all Aegean personnel, who contributed to this success, and dedicated the prize to Greek young people, advising them to stay in Greece.
Dimitris Melissanidis
A C C I A W A R D S 2 0 1 3
Mr. Melissanidis receiving his award from Prime Minister Antonis Samaras, in the presence of Constantine Michalos
Mr. Michalos and Minister Hatzidakis with the award winners
World Ocean Day In 2008 the United Nations General Assembly designated June 8 as World Oceans Day. This year, World Ocean Day focused on ocean conservation. There were special activities for individuals in various regions around the world.The oceans power our climate and are a critical part of the biosphere and are therefore essential to safety and survival of all life on planet earth. World Oceans Day is an opportunity to raise global awareness of the current challenges the international community faces in connection with the oceans.Protecting the ocean requires cooperation at many levels. In the U.S., the recently released National Ocean Policy aims to protect and strengthen the oceans’ health and security. The National Ocean Policy Implementation Plan streamlines government efforts to provide better data about ocean conditions, protection for marine habitats, and more. For this purpose, the U.S. cooperates with other nations. In that spirit of ocean conservation, representatives of the European Union, the United States, and Canada signed the Galway Statement on Atlantic Ocean Cooperation at the Ireland Marine Institute on May 24, 2013. By signing this agreement, these nations agreed to join forces in the field of Atlantic Ocean Research. The goal is to better understand the Atlantic Ocean and promote the sustainable management of its resources through better cooperation of ocean observation efforts.
Greece came in at second place worldwide
in ship tonnage with 118.1 million tons,
according to CNN’s extensive report on
the international shipping industry and its
progress. Japan is in first place with total
capacity of 132 million tons. The remain-
der of the top-ten list include Germany,
China, the US, the UK, Norway, South Ko-
rea, Denmark, and Hong-Kong.
According to other reports Greek shipown-
ers are continuing to invest in newbuildings.
More specifically, Greek shipowners have
recently ordered eleven new vessels at an es-
timated price of $390.5 million, according to
International Shipbroking Company Golden
Destiny. Regarding second-hand vessels,
Greek shipowners are in the market for the
purchase of six vessels, mainly bulk carriers.
F L O W S A N D C U R R E N T S
Greece to Benefit from TAPIn a highly anticipated decision, the
Shipping of the Future, Today Safety is paramount for huge car-
go vessels that carry millions of
liters of oil, thousands of shipping
containers, or tens of thousands
of tons of coal or steel. These
ships must comply with safety
standards that require time-con-
suming inspections by surveyors,
who in turn risk their own safety
by climbing inside massive cargo
areas and on scaffolding con-
structed around ships.
MINOAS (Marine INspection rO-
botic Assistant System) is an EU-funded research project that has developed a fleet of
remote-controlled robots that crawl through cargo ships and help save time and money and
improve the accuracy and quality of on-board inspections. This project promises to make
ships safer while also extending their life at sea.
The robots are equipped with robotic arms, cameras and magnetic wheels, and can roll up
and down the high, steep walls of ships, looking for defects on the massive steel plates and
measuring their thickness with ultrasound. The robots are two-wheeled, battery-powered,
equipped with a miniature video camera, two motors and a handle-shaped elastic tail, and
can also conduct inspection in teams, making inspections not only safer, but also quicker
by climbing walls at a half-meter per second and transmitting videos and images to human
inspectors carrying handheld receivers. They are controlled from a central station using virtual
reality techniques, and have the ability to take pictures, videos and measurements without the
need for human inspectors to go inside the hold or climb up scaffolding.
MINOAS, which is one of a kind, cost a little less than three million Euros. The EU contributed
about two thirds of that amount. Participating countries were Italy (Coordinator), Germany,
Greece, Spain, United Kingdom, and Bulgaria.
This project best demonstrates how uniting specialists from a variety of different industries
throughout Europe can lead to innovation, increase competitiveness, cut costs, improve
workplace safety and lower environmental risks. MINOAS has received great interest at
technology expos, and the project team expects the robots to reach the commercial market
in the foreseeable future.
MINOAS Robot
10th Greek Shipping and Ship Finance Conference 2013The 10th Greek Shipping and Ship Finance Conference 2013 took place on May 30-31, 2013. Supported by Lloyd's List, this conference is one of the most important confer-ences in Greek shipping and ship finance, as it features the participation of leading players in the industry and explore the latest developments. This year’s event provided attendees with far-reaching insights on important issues such as the position of banks
in the shipping business, the best investment opportuni-ties, the secrets for competing throughout the shipping cycle, the latest challenges, and what the short term future holdss for the key shipping sectors. The participants also had the opportunity to discuss whether Far Eastern fi-nance matters for Greek owners and how quickly Asian banks are going to fill the gap left by the departure of some traditional lenders.
Global Shipping Trends through 2015The financial crisis of 2008-2009
Aegean at Algeciras BayAegean Marine Petroleum Network Inc. is set to expand its global marine fuel
supply network by establishing operations in Algeciras, Spain. The strategic devel-opment will utilize existing fleet capacity and further expand presence in western Mediterranean region.
This move is an exciting opportunity for Aegean, as it is strategically expanding its presence in the Western Mediterranean by entering this rapidly growing port. Aegean’s presence in Port of Algeciras Bay will further enhance its ability to serve customers in this fast-growing region, while also allowing Aegean to utilize its built-in fleet capacity and storage capabilities.
Over the past several years, Aegean has continued to execute its strategy of op-portunistically entering and exiting markets as appropriate to strengthen its com-petitive positioning, and this development is perfectly aligned with this operating philosophy. Aegean is taking decisive actions to diversify its geographic presence. Aegean continues to deliver on the promise of the Aegean model and this event is yet another milestone illustrating its dynamic progress.
Aegean’s presence in the Port of Algeciras Bay will further enhance the company’s ability to serve its customers in this fast-growing region, while also allowing Aegean to utilize its built-in fleet capacity and storage capabilities.
AlgecirasAlgeciras, Bahίa de Algeciras in Spanish, a port city in the south of Spain, is the larg-est city on the Bay of Gibraltar. It is situ-ated 20 kilomters northeast of Tarifa on the Rίo de la Miel, the southernmost river of the Iberian Peninsula and continental Europe. With a population of 116,917 people, it is the biggest city in the area. The current name of Algeciras comes from the Arab period of the Iberian Penin-sula; Al-Jazira Al-Khadri' means “Green Island” in Arabic.Algeciras is principally a transport hub and an industrial city. Its principal activi-ties are connected with the port, which serves as the main embarkation point be-tween Spain and Tangier and other ports in Morocco, the Canary Islands, and the Spanish enclaves of Ceuta and Melilla. The city also has a substantial fishing industry and exports a range of agricultural prod-ucts from the surrounding area, including cereals, tobacco and farm animals.In recent years Algeciras has become a significant tourist destination, with popu-lar day trips to Tarifa to see bird migra-tions; to Gibraltar to see the territory's sights and culture; and to the Bay of Gi-braltar to see whales.
The Port’s HistoryIn ancient times maritime shipping focused on Carteia, which was aban-doned in the Middle Ages. During the Muslim presence on the Iberian Pen-insula, Algeciras became the point for crossing the Strait of Gibraltar. In the Reconquista the border area became the Moorish Kingdom of Granada, which caused it to be destroyed and abandoned in 1379. The population then concentrated in Gibraltar. With the conquest of Gibraltar in 1704, the population fled and was distributed mainly along the bay. Several settle-ments were established; those that
stayed on the banks of the sea repopu-lated Algeciras. In the new distribu-tion of the bay, a port facility was not created until 1894, when a wooden jetty was created at the mouth of the Río de la Miel.
Unlike other major European ports, the present port of Algeciras Bay is a young and dynamic port with little more than a century of history. In these 100 years, the development of the port facilities and its constant growth in traffic made it the leader of the Spanish port system and one of the main ports in the European Union. Until the 1960s, the main activities of
the Port and the Bay of Algeciras were the passenger traffic in the Straits and fishing. Then, in 1964 an industrial complex was built, which lead to the industrial takeoff of the area.
The Modern Port of AlgecirasThe Port of Algeciras is in the prov-ince of Cádiz in the autonomous community of Andalusia. It is a com-mercial, fishing, and passenger port and consists of numerous maritime infrastructures scattered throughout the Bay of Gibraltar. Although only the town of Algeciras and La Linea de la Concepción overlook the bay, there
The Port Authority of Algeciras Bay (APBA) APBA manages and administers the ports of Algeciras and Tarifa. The Port of Algeciras Bay offers an ample vari-ety of harbor services and an experi-enced port community, and has a great variety of specialized facilities for all kinds of traffic and goods (liquid bulks, solid bulks, passengers, vehicles, cruises, fish, sport). This variety, along with its privileged situation and its wide connection network with the main ports of the world, has turned it into an international reference.
are port facilities in the rest of the bank, also belonging to the munici-palities of San Roque and Los Barrios.
At present, the Port of Algeciras Bay is Spain’s largest and a strategic port in international trade and in the transit between the Mediterranean and the Atlantic. On the crossroads of the world´s main cargo shipping lanes, the Port is a West Mediterranean hub for container transshipment. The port con-tains more than 10 kilometers of quays in different basins, which manage all types of passenger and freight traffic. With its central location in shipping routes, linking West Africa, Asia, North
Europe, and the Americas, the Port is ranked as the 7th busiest container port in the continent of Europe and the 16th busiest port in the world. In 2010 it exceeded 70 million tons in total traffic and more than 2.8 million containers, and nearly 26,000 vessel calls in 2012. Bunkering volumes in the Port have grown more than 80 percent during the past ten years, with total through-put up more than 68 percent and total ship calls up more than 32 percent dur-ing the same period.
The total number of calls has in-creased in the Port Bay of Algeciras for the following reasons:
• The configuration of the Bay of Algeciras that provides magnificent shelter and natural draught condi-tions
• Its geostrategic location• The improvement of the road in-
frastructure linking the port with its natural, primary and secondary hinterland
The Port of Algeciras is constantly growing. The increase in surface and operational capacity, its new logistic zones and the improvements in ac-cess accommodate for the increasing traffic and the incorporation of new operators.
Thomas Zarchanis and his col-league Christos Kalopoulos own an Aegean service station
centrally situated in the Municipality of Galatsi on St. Glykerias Street.
How long have you been in the fuel busi-
ness Mr. Zarchanis?
I have been in the fuel business for 23 years. I was a clerk at three other gas stations before starting my own busi-ness almost two years ago.
When did your cooperation with Aegean
start?
The previous owner was already work-
ing with Aegean and we just carried on.
How were things when you first started
operating your own station? Was it the
way you had expected?
At first no. We had expected a lot more costumers and we had too many expenses. Within two years we man-aged to improve a lot.
How did you do that?
First of all, we are now open for busi-ness 24 hours a day. It wasn’t like that in the past. We are very careful and professional in all our dealings with our custumers and that is why
we have gained their trust. As far as bringing costs down, we managed to get our rent reduced.
How is business now?
Like all sectors, we are now going through a crisis. When gasoline prices drop, the number of our customers increase.
How is your relationship with customers?
The response has always been excellent.
What do you think of Aegean?
Prices are good in general, within reason. Neither too expensive nor too cheap. We would like to see fuel pric-es be reduced, in order to increase our profit.
What is your impression of your coop-
eration with Aegean? Did you ever have
a customer complain?
There has never been a customer complaint. Neither did we ever have a problem and our collaboration with Aegean was flawless from the begin-ning. We collaborate mainly with our inspector, Mr. Vangelis Bardis, and our cooperation is very good.
What are your plans for the future?
We would like to start distributing heat-ing oil. But at this time customer inter-est for heating oil is low. Perhaps in the future, if heating oil prices decrease.
Galatsi is a municipality in the northern suburbs of Athens, which unfolds at the foot of
Tourkovounia Hill, four kilometers from the center of Athens. With a total area of four square
kilometers, Galatsi is a very green area and at the same time one of the most densely
populated municipalities in Attica.
Steady Improvement with Hard WorkThomas Zarchanis and Chris Kalopoulos, Galatsi, Attica
The Aegean service station of Mr. Zarchanis and Mr. Kalopoulos
Staying Strong Despite the Difficulties of our Times Panagiotis Efstathiou, Glikovrissi, Lakonia
The gas station of Mr. Efsta-thiou is located one kilometer from the village Glikovrissi in
Lakonia, on the main road to Elia.
How many years have you been running
your own gas station Mr. Efstathiou?
Ι have been working in this field for 17 years, since May of 1995. I have had my own gas station all these years.
Do you have any help at your gas station?
I have three sons and we all work together. This gas station is a family affair!
Have you been with Aegean from the
beginning?
No, we have been working with Ae-gean for the last six years. We signed our second contract about a year and a half ago.
Why did you choose Aegean?
For better better prices and a better collaboration.
How is your communication with Ae-
gean? Are you happy with your coopera-
tion so far?
The fuel quality is consistently good and we do not have any problems with our customers. Aegean is prompt with their deliveries and we have no com-plaints with our cooperation. Our only complaint, if you can call it that, is gas
prices. It's not that Aegean specifically is expensive. It is just that people do not have money and competition in the area is tough. It is a combination of fuel pricing in general and the financial crisis. We have an open line of commu-nication with the Aegean inspector in Lakonia and we tell him our problems. But times are tough for everyone.
Overall how is the situation today and
what is the response of your customers?
Without a doubt the economic crisis has affected our business. People do not use their car as much as they used
to and our business suffers as a result. We try to attract more customers by bringing prices down. The motorist always checks the sign with the prices first! Many people who are not from the area drive by and as soon as we lower the prices, we immediately no-tice more cars coming through.
Would you like to share with us your
plans for the future?
We plan to preform a programed up-grade on our fuel tank equipment within the next year. We always strive for the best.
Lakonia is the southernmost prefecture of the Peloponnese and mainland Greece, bordering
the Aegean Sea, the Messinian Gulf, and the Gulf of Lakonia.
A number of oil companies are trying to operate as physical suppliers within
the global market for marine lubri-cants. In the past, multinational com-panies dominated this market, mainly because of the need for certified lubri-cants and an international production and supply network.
Aegean entered the market in 2007 and now plays a leading role as an international independent lubricants physical supplier, certified by major marine engines manufacturers (MAN D&T, Wartsila).
In terms of new technology, there have been no developments for many years in the marine lubricants market
and so almost all suppliers sold their standard range of products.
Any technical developments and variations in products that might have emerged happened because of the suppliers’ commercial strategies, rather than market requirements.
A New EraBut now there is a downpour of new developments.
There are several challenging fac-tors that require constant monitoring and investment for any marine lubri-cants supplier, who wants to stay atop internationally. Such factors are the strict environmental regulations at an international level for the sulfur con-
tent of fuel oil, with a constant pressure to decrease the percentage of sulfur and its application areas (SECAs), the pressure for mandatory use of environ-mentally acceptable lubricants (EALs) in all applications aboard where there is an oil-sea interface, slow steaming and ultra slow steaming to save fuel, which poses a particular challenge for producers of lubricants due to the in-creased need of proper lubrication of machines, and the use, or not, of the mid-range BN cylinder oils.
Aegean is a member of the Interna-tional Council on Combustion Engines (CIMAC) and also works directly with a leading manufacturer of chemical additives to simultaneously monitor, adopt technological developments, and invest in field tests for certification of new products, such as the new line of Alfamar GII lubricants (TPEOS de-rived from Group II base oils) and the new Alfacylo 580 S cylinder oil (with an advanced formula and BN 80, which is specialized for slow steaming).
At a commercial level, our compa-ny recently announced its collabora-tion with SK Lubricants, a producer of base oils and lubricants, for the pro-duction and supply of ships (Aegean customers) at all ports and shipyards in South Korea.
South Korea is a major market worldwide for its marine lubricants as, apart from many transit ships, there are hundreds of newbuildings in local yards.
At the same time, SKL, which wants to enter the international market, will use Aegean’s network of marine lubri-cants to supply its customers, thereby enhancing our production volumes.
We believe that the fact that this Korean “giant” trusts Aegean testifies to the quality of products and services of Aegean around the world and that the two companies will join in a very successful partnership.
What is the role of the Athens Chamber of Commerce and In-
dustry (ACCI)?
The ACCI is the largest Chamber in Greece, representing more than 100,000 businesses. Its mission is to represent and support the companies with an integrated set of ser-vices and actions, in regard to information through inves-tigation and market research, advisory support, openness and international networking, education and training. It also undertakes initiatives to highlight the idea of entrepre-neurship by rewarding entrepreneurial excellence, promote corporate social responsibility, and foster entrepreneurial culture to the new generation.
The ACCI also works as a consultant to the govern-ment on issues of trade, industry and services, and general development policy. The central aim of our proposals and interventions is to ensure a fertile environment that favors the development of private initiative, competitiveness, an outward-looking mentality and new investments.
How do you view the current state of the Greek economy,
which has been at the center of global attention for quite
some time?
Indeed the Greek economy has been at the center of world attention in recent years. And it is encouraging that, after all this time, it begins again—even with small steps—to produce positive news and comments.
Eliminating the risk of exiting from the common cur-rency, the substantial decline in the current account bal-ance, and the completion of the recapitalization of the banking system are developments that are helping to stabi-lize the economy of our country and create the conditions
for a path of recovery in the foreseeable future. A number of other developments, such as the recent TAP gas pipeline agreement, have equally beneficial effects.
However, the major problem of recession persists for the sixth consecutive year. The return of the Greek economy to positive GDP growth is a vital challenge, which clearly requires a more flexible stance on the part of our partners, and further acceleration of structural reforms on the part of the Greek government.
Please tell us your perspective on the global economy following
four years of a challenging environment.
The situation in the global economy has certainly stabi-lized in the four years after the 2008 crisis. Of course, I would say that the pace of recovery varies greatly from region to region. Economies that were based on relatively stable grounds before the crisis, such as those in Scandina-via or some large emerging economies, quickly returned to a positive trajectory. Recovery appears to be faster in coun-tries such as the U.S., where there were serious imbalances but the measures were direct and decisive.
Constantine Michalos talks to Aegean News about the history of the Athens Chamber of Commerce and
Industry and its contribution to the economic recovery of the country.
Constantine MichalosPresident of the Athens Chamber of Commerce and Industry (ACCI)
I N T E R V I E W
Shipping and trade will be crucial in the coming years for Greece. The emergence of Greece as a gateway for Asian products in European markets is a major challenge.
In contrast, in the Eurozone recovery is still tenuous and uncertain. And this is due not only to the pre-exist-ing structural problems of the common currency, but also to the inadequate and shortsighted political man-agement of the crisis. The dogmatic commitment to fis-cal discipline and harsh austerity, the inadequate policies to enhance liquidity and the irresponsible games with bank credit—such as in the case of Cyprus—did not do anything to help restore confidence and stimulate eco-nomic activity. And of course, the practice of looking for culprits and enemies destroyed the cohesion of the Euro-zone and further weakened the outlook for bold political decisions and solutions.
The fact that during the past year we averted the risk of dividing the Eurozone certainly helped to stabilize the situ-ation, but did not convince the markets. Under these cir-cumstances, I would say that the Eurozone is in danger, not only to remain trapped in slow growth, but also to become a burden on the global economy.
Looking to the future, you are optimistic that markets will
improve?
I believe that improving the economic climate will be a key driving force in developing markets which, despite slowing down in recent years, maintain a positive momen-tum. If there is proper management to avoid risks such as excessive leveraging and pricing, especially in some rapidly developing economies of Asia, the outlook will continue to be positive. Manipulation by the U.S. in mat-ters of financial and legal policy, as well as moves to boost the economy of Japan, will also affect market sentiment. Turning to Europe, I would say that I cannot be optimistic, if there’s no political will in the right direction. That is, toward a stronger economic and monetary integration, faster banking union, and the removal of sterile austerity and structural reforms.
Global trade relies on global shipping. Are you confident trade
will sustain the global shipping industry in the near future?
90% of world trade relies on maritime transport. Of course, as is true for trade and any other outward-looking sector, the shipping market is influenced by wider developments, economic and beyond. The crisis of recent years has led to a contraction of international trade and reduction of cargo loads, in combination with excess capacity, which clearly had an impact on the industry. But I believe that in the next few years the volume of freight will increase, as a result of globalization, the dispersion of the production chain, and the increase in demand in developing markets.
Shipping and trade will be crucial in the coming years for Greece. The emergence of Greece as a gateway for Asian products in European markets is a major challenge.The example of COSCO’s successful investment in the Port of Piraeus, which led to a tripling of container volume within three years, and recent agreements with companies such as Hewlett Packard, show prospects for this sector. Equally important perspectives are the exploration and development of hydrocarbons in marine areas in western and southern Greece.
Companies such as Aegean contribute significantly to the
economy of Greece. Please say a few words about how Aegean
boosts the local economy as it expands globally.
Aegean is an outward-looking company with a strong pres-ence in international markets, and with activities that gen-erate high added value. It has gained a high level of experi-ence, expertise, and prestige in the shipping field and is expected to have a key role in the regeneration of the Greek economy. I am confident that in the next few years Aegean can play a leading role in our country's effort to simultane-ously tap into its crucial geographical position and its long maritime tradition.
As with many shipwrecks, there have been numerous attempts to recover the remains of the
vessel. The adventure of underwater archaeology further continues today as experts proceed with restorations and reveal the ship’s treasures. The Antikythera Shipwreck dates back to sometime between the fourth and the first century BC and is an object of great interest to scholars and re-searchers alike. Looking into its cargo, we discover the existence of art trade in ancient times. There is, moreover, an ongoing study of the Antikythera Mechanism that offers surprises, poses questions, and reveals new an-swers about ancient technology and astronomy.
The ShipThe remains of the ship and its cargo show that the vessel was a freighter (ὀλκὰς in ancient Greek, navis oneraria in Latin), with an estimated capacity of 300 tons. Objects used by the people on board, such as vases and games, offer a picture of the habits and life of shipmen during their voyage. An exhibit at the National Archaeological Museum in Athens offers visitors the chance to see fragments from the hull of the ship and its external lead sheathing with a num-ber of other accessories, such as tubes for water drainage.
Voyage and CargoArcheological findings reveal that the freighter transported bronze and
marble statues, glassware, bronze ves-sels and golden jewelry, among others items. Some of the ship’s treasures still lie on the bottom of the ocean, in levels of the ship that are out of reach. The study of these artifacts provides information about the potential an-cient buyers and the art of trade in its novel form in general. It helps us understand the circulation of Greek works of art at the end of the Hellenis-tic period and the Roman Republic in the light of the commercial exchanges and the taste of the rising Roman aristocracy. There’s no answer to the questions of where the ship began its journey and where it was heading.
The MechanismPerhaps the most precious of all the discoveries onboard the shipwreck is an exquisite, unique device of mathe-matical and astronomical genius, the Antikythera Mechanism. Scholars, historians, mathematicians and as-tronomers have expressed their desire to study the Mechanism itself, and the drawings, radiographs, tomographies, digital assimilations, and models, ac-companied by interpretations by scholars, during the past century. This device, called the first computer, is comprised of 82 fragments, all of which survived, and has generated worldwide interest.
R O O T S
The Antikythera Shipwreck
Thousands of years after going down, the Antikythera Shipwreck reveals its secrets, its
treasures, and the mysterious Antikythera Mechanism.
The three main fragments of the Antikythera Mechanism on display at the Bronze Collection of the National Archaeological Museum.
LefkadaA feast of colors, sounds and aromas, Lefkada is a favorite
among the Ionian Islands for Greeks and foreigners alike. A
real-life Garden of Eden, Lefkada has an endless 117-kilometer
coastline, beautiful and diverse inland landscape, and countless
secrets for the visitor to discover in every corner.
Must SeeLefkada Town A buzzing multi-culti center with numerous cafes, shops, restaurants, and tavernas, the town of Lefkada offers a mag-nificent view of the Ionian Sea and a taste of the delicious local cuisine and has something for everyone.
Aghios Nikitas The small village gives its name to an exclusive small beach with clear, crystal waters. On the left, avid swimmers can reach Ammoudoula beach and the Foko-trypa cave.
Porto Katsiki The famous Porto Katsiki has received worldwide recognition as one of the most stunning beaches in the world. The strip of pure white sand at the foot of a towering white rock that appears on what seems to be half the posters promoting Greek tourism is a true must-see.
Egremni Spread on two kilometers of white sand and surrounded by impressive cliffs, Egremni beach is one of the best of the Medi-terranean. The transparent, aquamarine, pris-tine waters, visible at the top of the 350-step steep walkway, will surely motivate all visitors to attempt the walk down.
Gyra For avid hikers there is the very pleas-ant stroll from the town of Lefkada and round the Gyra lagoon. The hike is seven kilometers long and is a great attraction for nature lovers because of all the indigenous species of birds and flora around the lagoon.
Lefkada Waterfalls The Dimosari Waterfalls offer an alternative to the beaches of Lefkada. Visitors enjoy a revitalizing swim in the cold-water pools created by the water steams that descend off the mountain, and relax in the view of the lush green forest that surrounds the waterfalls.
T R A V E L W I T H A E G E A N
Aegean stations
Lefkada
Lefkada is at the center of the Ionian Islands, off the western coast of Greece, between Corfu and Cephalonia. The island is connected to the mainland by a long causeway and floating bridge, making it
easily accessible all year round. At 356 square kilometers, it is the fourth largest island of the archipelago, with a population of 23,000. Situated in the middle of the island, the majestic Mount Stavrota is the highest point of the island, standing at 1,158 meters above sea level.
“As you set out for… Lefkada?”Lefkada is mentioned in numerous ancient myths linking the island to the poet Sappho, to Aphrodite, the Greek goddess of love and to Homer's Od-ysseus. Many even believe that Homer’s Ithaca is in fact the island of Lefkada, and that the infamous palace of Odysseus was located west of Ny-dri on the south coast of Lefkada.
Aegean Stations in Lefkada
EFSTRATIOS GAZISMEGALO AVLAKI, LEFKADA
CHRISTOFOROS PASCHALAKIS GREEK NATIONAL ROAD (LEFKADA-NIDRI), PERIVOLIA, LEFKADA
I Protect the Environment-I Safeguard my FutureBy staying informed about what is happening in the world and by passing the information on to others, we are taking a significant step toward the protection of our planet.
CHILDREN AND THE ENVIRONMENT
28
Energy is the ability to do work or cause change. It causes things to happen around us. During the day we use energy from the sun, known as solar energy, and at night we most-ly use electrical energy to light our homes. Gasoline, a type of stored energy, powers cars. Our bodies get energy from the food we eat. But where does energy come from?
No matter what form energy is in, we cannot create it from nothing, nor destroy it. Energy is around us all the time and occurs in many forms, including chemical energy, thermal energy, electromagnetic radiation, gravitational energy, electric energy, elastic energy, and nuclear energy. These can be categorized in two main classes: potential energy and kinetic energy. This is the story of kinetic energy.
The Story of Energy CHAPTER II
The Concept of Kinetic Energy
When you travel on your bicycle and you try to stop suddenly, you can’t. It will actually take a few seconds before you stop completely. Do you know why? When you are in a moving car, or a train, or a bus, it is very dangerous to step out suddenly, unless you are at a complete stop. Do you know why? In both cases, the answer is kinetic energy.
When you lift a heavy object you exert energy, which will later become kinetic energy when the object is dropped. Let’s use the roller coaster at the adventure park as an example. The lift motor of the roller coaster exerts potential energy when lifting the train to the top of the hill. The higher the train is lifted, the more potential energy is produced. At the top of the hill the train has a huge amount of potential energy, but very little kinetic energy. As the train accelerates down the hill the potential energy is converted into kinetic energy. There is very little potential energy at the bottom of the hill, but there is a great amount of kinetic energy. Remember: the sum of kinetic and potential energy in the system re-mains constant, ignoring losses to friction.
Kinetic Energy - Ek = ½mv2
The word kinetic is derived from Greek word κίνησις (kinesis) meaning to move, so kinetic energy in physics is the energy an object possesses due to its motion or movement; it is the energy of motion. It is defined as the work needed to accelerate a body of a given mass from rest to its stated velocity. The faster a body moves the more kinetic energy it produced. The greater the mass and speed of an object the more kinetic energy there will be. Having gained this energy during its acceleration, the body maintains this kinetic energy unless its speed changes. The same amount of work is done by the body in decelerating from its current speed to a state of rest.
These bodies or objects can be very large things, like planets, and very small ones, like atoms. The heavier a thing is and the faster it moves, the more kinetic energy it has.
There are many forms of kinetic energy:• Vibrational - the energy due to vibrational motion• Rotational - the energy due to rotational motion • Translational - the energy due to motion from one location to another
To sum up, let’s focus on translational kinetic energy. A car’s kinetic energy (Ek) depends on two variables: the mass (m) of the object and the speed (v) of the object. So what physics basically teaches us is that if a car and a truck are speeding, one next to the other, the truck needs more time and distance to stop, because the truck is heavier than the car.
Ek = ½mv2 does not look that complicated any more, does it?
Aegean Energy for the FutureAegean is Greece's most dynamic energy, petroleum, and shipping group. The company has a network of retail gas stations throughout Greece, is active in marine fuels and lubricants, and operates a fleet of tankers and barges inter-nationally and domestically to transport petroleum and bunkers for its global base of clients.
RETAIL MARKETThrough its fast-growing network of gas stations, Aegean supplies drivers in Greece with gasoline and automotive lubricants. Aegean’s modern, well-maintained gas station network has won the trust of drivers due to the high quality products and services it offers at competitive prices. In addition, Aegean directly supplies large industrial clients with petroleum products of all grades, owing to the consistency and service of its transactions.
BUNKER FLEET NYSE listed Aegean Marine Petroleum Inc., with an exclusively double hull fleet—of which nine ships are newbuild-ings—is the natural supplier of marine fuels at 12 of the most significant ports in the world. Furthermore, with its 22 newbuildings program in progress and the continuous opening of new stations, it is one of the most dynamically developing divisions Of the Aegean Group.
BUNKERING Aegean provides one of the most efficient and responsive bunkering services to clients worldwide. Its ships never stop sailing and its services are available 24 hours a day, 365 days a year. Aegean operates bunkering stations in Piraeus and Patras, and in Gibraltar, Amsterdam-Rotterdam-Antwerp, Fujairah, Jamaica, Singapore, Trinidad & Tobago, Portland UK, Vancouver and Montreal, Mexico, Tangiers, Tema in Ghana, Las Palmas and Tenerife, Panama, ang Hong Kong. All its products are ISO 8217 certified. The Company, which is a member of IBIA and is ISO 9001 certified, is well positioned on the FOBAS White List.
SHIPPINGAegean's fleet of ships is at the heart of its superior service worldwide. Its ves-sels operate in full compliance with EU and international standards, are all certified with the code of safe management ISM and SOLAS and are in complete compliance with MARPOL regulations. Aegean continually adds to its fleet of ships, which includes large vessels as well as smaller capacity vessels. Its fleet transports oil cargoes worldwide on behalf of major oil compa-nies, commercial clients, and Aegean customers.
LUBRICANTSAegean produces and markets high performance lubricants for vehicles and industrial use under the Aegean brand and, for the marine market, under the ALFA brand. ALFA marine lubricants are certified and approved by the largest marine engine manufacturers in the world.The resources of our company and our follow–up service create our success-ful relationships and allow Aegean to supply lubricants in more than 550 ports worldwide.
ENVIRONMENT-HECThe Hellenic Environmental Center collects, transports and processes oil resi-dues from ships and land units (industrial, shipyards), while it also manages all liquid residues produced by ships. In order to carry out its work HEC has the most state-of-the-art equipment, consist-ing of floating separators, a fleet of pollutant-collecting tankers, and well-equipped tank trucks.HEC acts to protect the marine environment and at the same time contributes significantly to the saving of energy with the recycling procedures it uses to transform the reclaimed pollutants into energy resources.
TRADINGAegean is dynamically active in the trading of crude oil and petroleum products worldwide. The Trading Department is comprised of dedicated and professional individuals who combine high level expertise and a great many years of experience in the oil industry. Petroleum products are supplied to a broad spectrum of customers who comprise the company's portfolio. Aegean has acquired its credibility from the high quality of the services it provides to suppliers and ship owners, a fact that supports the company’s ambitions for the achievement of long-range goals in the energy sector worldwide.