Aegean Marine Petroleum Network: Refuel your portfolio

If you're operating an ocean-going or coastal ship and need to refuel, Aegean Marine Petroleum Network Inc. (NYSE: ANW) may be able to help you out. This Greek company supplies fuel and lubricants for marine vessels, and performs refueling at sea. It owns a fleet of tankers to service its customers, which include the U.S. Navy and commercial ship owners, as well as fuel brokers. Its service centers are located in Greece, Gibraltar, the United Arab Emirates and Jamaica, which allow it to service ships across the Atlantic.

ANW just went public in December, with an IPO price of $14. It got as high as $17 at the end of January but dropped back after that, and is now trading just above $15. I think this is a company with a very bright future, and I think it's a strong buy right now.

ANW's revenues have been climbing steadily since 2004; operating income in 2005 was 25% higher than it was in 2004, and it was up 30% again in 2006. The growth in net income for 2006 was a bit lower at 15.5%, but those are still solid numbers for a growing company. Indeed, revenues in 2006 were up 55% over 2005, and as the company adjusts to its growth, I think we'll see the profits grow even more.