Aegean Marine Petroleum Network Inc. (NYSE:ANW) has established operations in Patras, Greece, expanding the company's presence in the Mediterranean.
Patras, located on the western coast of Greece, serves as a strategic commercial hub connecting Greece and the Balkans with Italy and the rest of Western Europe. The port, ranking second in Greece in terms of size, caters to all segments of shipping and has a particular emphasis on the international ferry business.
Aegean has been serving the Patras market on a limited basis since the second quarter of 2008 from its base in Piraeus. The company plans to assign four of its Piraeus' stationed double-hull bunkering tankers to this market.
E. Nikolas Tavlarios, President, said "We are very pleased to establish a permanent presence in Patras, building on the company's existing strong footprint in Greece and the Mediterranean. Including Patras, Aegean now boasts a presence in 14 markets around the world, further enhancing its unmatched global reach in the marketing and physical supply of marine fuel."