Aegean Marine Gets New Bunkering Tanker

Wednesday, April 13, 2011

Aegean Marine Petroleum Network Inc. (NYSE:  ANW) announced that it has taken delivery of the Tilos, a 5,500 dwt double-hull bunkering tanker newbuild from Qingdao Hyundai Shipyard in China. The vessel is being deployed to Singapore to support the company's existing bunkering operations in this market.  

E. Nikolas Tavlarios, President, commented, "We are pleased to take delivery of the Tilos. In deploying this new double-hull vessel to Singapore, we have ensured our ability to meet the needs of our customers in the largest bunkering market in the world after having chartered some of our vessels to top counterparties.  As we continue to expand our high-quality logistics infrastructure and meet the demand for modern tonnage, we remain focused on entering new markets with strong growth potential as we did last month in Cape Verde. Consistent with our goal to drive future performance, we expect to establish operations in two additional start-up markets and complete our fully financed newbuild program in 2011."
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