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Revoil: In Ocean-Shipping Through Ariston

Mr. Ioannis Roussos, the head of Ariston, 100% subsidiary company to Revoil, operating in shipping, has set as an objective the formation of a fleet consisting of 4 to 5 cargo ships up to 15 years old, in the next 2 years.
Ariston has chartered a 44.950 ton dry-cargo handymax in last summer, chartered until September 2011, while a second ship is expected to be delivered during December.
Revoil has been looking to expand into new markets for a long time, but the conditions weren’t favourable till now, Mr. Roussos said.
During the press conference held by the Revoil Group, on the occasion of entering the ocean-going shipping, the General Manager of Revoil, Stavros Niforas, presented the progress of the company in oil market as well as some interesting data about the market in total.
For the period Jan-Oct, the total reduction reached 11% as fuel sales totalled 7.4million metric tones compared to 8.2 million metric tons last year, according to Mr. Niforas.
The reduction in consumption is due to the increase in taxes, while gross profit margin for trading corporations and operators remains unchanged at 8.8-9.1 per liter.
The current situation in the market is very difficult and forecasts would be extremely risky.
Regarding to operators, Mr. Niforas estimates that there are already about 1100 shutdowns in the oil market, 500-600 businesses poorly operate, while 1000 more are expected to shut down in the near future.
Revoil managed to present small losses compared to competitors (3.8%-4%) and also expanded its network by 77 new operators.
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