Aegean Marine Petroleum Network Inc.  (ANW) Trade Now »     Rate ANW  -  Discuss ANW  -  Add to Watch List        

After last quarter’s earnings report I put forth the opinion that Aegean Marine Petroleum Network (ANW) had a stock price somewhat high in relation to earnings growth. Since then the stock has fallen from the low $40s to the low $30s. I do not know if it was my astute analysis or just crappy market conditions.

For the 2nd quarter the numbers are starting to look a little better. Net income per share of 23¢ is 64% improvement on Q2, 2007 and a nice 28% improvement on Q1, 2008. The 23¢ is pretty much in line with the estimates but the $741 million in revenues blows away the consensus of $616 m

Beam me up Scotti! Wouldn't it be nice to beam up a 100 million metric tons of coal, steel, wheat, copper or any other commodity from here to say China, or India, or Brazil? Well, technology is not there yet! The way this stuff is transported from producers to consumers overseas is mainly by huge ocean going vessels, marine tankers and they are busy these days carrying over huge amounts of every commodity to countries where demand is outstripping supply as every day goes by.

Only a decade ago Chinese were riding bicycles and wearing grey uniforms, happy to have a bowl of rice o