Aegean Marine goes back to Mercuria for salvation

Aegean Marine goes back to Mercuria for salvation

Bust Greek maritime fuel provider Aegean Marine Petroleum Network has found a new restructuring partner in the form of Mercuria Energy Group after a rival deal with Oaktree Capital Management collapsed. Aegean had been in discussions with Mercuria earlier this year before Oaktree jumped ahead of the queue.

Aegean Marine filed for Chapter 11 bankruptcy last month after a massive fraud of up to $300m was unearthed at the company.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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