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Assumes Charter Agreements for Two Vessels
Piraeus, Greece, Dec. 22, 2014
Aegean Marine Petroleum Network Inc. (NYSE: ANW) (the "Company") today announced that it will commence immediate marine fuel supply operations in the Gulf of Mexico. In support of its operations the Company has also assumed the contracts for two ocean-going bunkering tankers previously under charter to OW Bunker and expects to purchase the fuel on-board.
E. Nikolas Tavlarios, President of Aegean Marine Petroleum Network, commented, "We are capitalizing on another opportunity to grow our global footprint, diversify our operations into a new and attractive market and expand our ability to service our customers on a worldwide basis.
With these specialized tankers and their highly trained personnel in place we can immediately begin servicing the specific needs of vessels transiting the Gulf of Mexico, leveraging our capabilities and driving profitable revenue growth.
We believe that we are well-positioned in this market and are excited to provide customers in the region with a full range of marine fuel products.
As we continue to advance our leadership in the marine fuel industry, we remain committed to a risk-averse growth strategy that has, and we believe will continue to, deliver value to our 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.
The Company procures product from various sources (such as refineries, oil producers, and traders) and resells it to a diverse group of customers across all major commercial shipping sectors and leading cruise lines. Currently, Aegean has a global presence in 28 markets, including Vancouver, Montreal, Mexico, Jamaica, Trinidad and Tobago, Gibraltar, U.K., Northern Europe, Piraeus, Patras, the United Arab Emirates, Singapore, Morocco, the Antwerp-Rotterdam-Amsterdam (ARA) region, Las Palmas, Tenerife, Panama, Hong Kong, Barcelona, the U.S. East Coast, Los Angeles, Long Beach and Algeciras.
The Company has also entered into a strategic alliance to extend its global reach to China. To learn more about Aegean, visit http://www.ampni.com.
Aegean Marine Petroleum Network Inc. press release