Aegean Acquires Bunkering Double-HullTanker

Thursday, April 23, 2009

Aegean Marine Petroleum Network Inc. (NYSE:ANW) announced it has taken delivery of the Linnea, a 1980-built 11,520 dwt double-hull bunkering tanker to be renamed the Aegean Star, following the company's agreement to purchase the vessel from an unrelated third party. The Aegean Star is expected to be deployed to the company's West African market by the end of the second quarter of 2009.

E. Nikolas Tavlarios, President, commented, "With the strategic acquisition of the Aegean Star, Aegean has further strengthened its logistics infrastructure in West Africa. The vessel's significant delivery capacity provides the ability to extend Aegean's reach to more markets located on the Gulf of Guinea and increase sales volumes in this growing region. Consistent with our focus on expanding future sales volumes, we plan to commence operations in Tangiers, Morocco and Trinidad and Tobago during the current second quarter and expect to take delivery of 19 remaining double-hull bunkering tanker newbuildings by the end of 2010."


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