Aegean Marine Petroleum Network Inc. Takes Delivery of Bunkering Tanker |
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Aegean Marine Petroleum Network Inc.
42, Hatzikiriakou Ave
Piraeus, 18538
Greece
Press release date: September 4, 2007
PIRAEUS, Greece, Sept. 4 / - Aegean Marine Petroleum Network Inc. (NYSE:ANW), an international marine fuel logistics company that markets and physically supplies refined marine fuel and lubricants to ships in port and at sea, today announced that it has taken delivery of the M/T Arion, a 1980-built 11,914 dwt bunkering tanker, following the Company's agreement to purchase the vessel from an unrelated third party. The vessel, which has been renamed the Hope, is currently undergoing minor modifications to receive double-hull status in compliance with MARPOL and EU requirements and is expected to operate out of the Company's service center located in the United Arab Emirates.
E. Nikolas Tavlarios, President, commented, "With the delivery of the Hope, Aegean has agreed to acquire a total of three high-quality bunkering tankers in the secondary market in 2007 in line with our well-capitalized growth plan. As we continue to strengthen our capabilities to deliver marine fuels to ships in port and at sea, we expect to launch two new service centers during the remainder of 2007. By further expanding our full-service marine fuel logistics infrastructure from procurement to delivery, we remain focused on driving fuel sales volumes for the benefit of our shareholders and expanding our leadership position in the growing marine fuel logistics industry."
About Aegean Marine Petroleum Network Inc.
Aegean Marine Petroleum Network Inc. is an international marine fuel logistics company that markets and physically supplies refined marine fuel and lubricants to ships in port and at sea. As a physical supplier, the Company purchases marine fuel from refineries, major oil producers and other sources. Through its service centers in Greece, Gibraltar, Singapore, Jamaica and the United Arab Emirates, the Company sells and delivers these fuels to a diverse group of ocean-going and coastal ship operators and marine fuel traders, brokers and other users.
FCMN Contact: mcimini@igbir.com
Source: Aegean Marine Petroleum Network Inc.
CONTACT: Ziad Nakhleh Chief Financial Officer +011-30-210-458-6200 znakhleh@ampni.com and E. Nikolas Tavlarios President +1-212-763-5659 ntavlarios@ampni.com, both of Aegean Marine Petroleum Network Inc.
Leon Berman Principal The IGB Group +1-212-477-8438, for Aegean Marine Petroleum Network Inc.
Web site: http://www.ampni.com/
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