Aegean Marine Petroleum Network Inc. Exercises Four Newbuilding Options

PIRAEUS, Greece, March 4 /PRNewswire-FirstCall/ -- Aegean Marine Petroleum Network Inc. (NYSE: ANW) announced today that it has exercised its options with Qingdao Hyundai Shipyard, China to purchase four new 5,500 dwt double- hull bunkering tankers. The four newbuildings are expected to be delivered between December 2009 and March 2010.

E. Nikolas Tavlarios, President, commented, "Management's strategic decision to exercise the options to construct four new double-hull bunkering tankers, in accordance with the Company's plan, further expands the number of newbuildings currently on order and underscores Aegean's strong growth prospects. Including these four vessels, we now have 27 bunkering tanker newbuilds scheduled to be delivered by end of 2010, increasing our fleet to 47 bunkering tankers, of which 44 will be double hull. The significant growth in our delivery capabilities complements the notable expansion in our global network for the physical supply of marine fuel. With new service centers in Northern Europe and West Africa combined with the scheduled launch of our U.K. service center, Aegean is well positioned to continue to drive future performance and strengthen its leading industry reputation for the benefit of the Company and its shareholders."

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. 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, Belgium and Ghana, and plans to commence physical supply operations in the United Kingdom during the first quarter of 2008.

Source: Aegean Marine Petroleum