Aegean Marine Petroleum Network Inc. Takes Delivery of Bunkering Tanker Newbuilding |
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Aegean Marine Petroleum Network Inc.
42, Hatzikiriakou Ave
Piraeus, 18538
Greece
Press release date: January 8, 2008
PIRAEUS, Greece, Jan. 8 - 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 further expanded its marine fuel logistics infrastructure with the delivery of the Amorgos, a 4,600 dwt newly built double-hull bunkering tanker from Fujian Southeast Shipyard in China. The Amorgos is expected to operate out of the Company's service center located in Gibraltar.
E. Nikolas Tavlarios, President, commented, "With the delivery of our fourth bunkering tanker newbuilding since our IPO, management continues to execute its well-capitalized growth plan. By further expanding our marine fuel logistics infrastructure, we have once again strengthened our position to take advantage of the growing demand for a full-service marine fuel solution from procurement to delivery."
Mr. Tavlarios added, "We remain intensely focused on pursuing growth opportunities that meet our strict return criteria exclusively within the global marine fuel logistics industry as we have in the past. The launch of our new service center in Northern Europe combined with our new service centers in the United Kingdom and West Africa, which are scheduled to commence operations in the current quarter, bodes well for Aegean to further increase sales volumes as we continue to enhance our leading industry reputation."
With the delivery of the Amorgos, the Company has deployed the Aegean Tulip, a 1993-built 4,853 dwt double-hull bunkering tanker to West Africa from Gibraltar.
About Aegean Marine Petroleum Network Inc.
Aegean Marine Petroleum Network Inc. is a 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. 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 through its service centers in Greece, Gibraltar, Singapore, Jamaica, the United Arab Emirates and Belgium, and plans to commence physical supply operations in the United Kingdom and Ghana during the first quarter of 2008.
Source: Aegean Marine Petroleum Network Inc.
CONTACT: E. Nikolas Tavlarios, President, +1-212-763-5659, ntavlarios@ampni.com
Web site: http://www.ampni.com/
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