Aegean Marine to Commence Operations at Port of Algeciras (Spain)

Aegean Marine Petroleum Network Inc. today announced plans to expand its global marine fuel supply network by establishing operations in Algeciras.

The Port of Algeciras Bay is one of Spain’s largest and is located at the crossroads of the world’s main cargo shipping lanes. With its central location on routes linking West Africa, Asia, North Europe and the Americas, Algeciras is one of the busiest transshipment and container ports in the world.

E. Nikolas Tavlarios, President, commented, “This is an exciting opportunity for Aegean, as we are strategically expanding our presence in the Western Mediterranean by entering this rapidly growing port. Our presence in the Port of Algeciras Bay will further enhance our ability to serve our customers in this region, while also allowing Aegean to utilize our built-in fleet capacity and storage capabilities, which should drive both profit margins and volumes.

“Over the past several years, we have continued to execute our strategy of opportunistically entering and exiting markets as appropriate to strengthen our competitive positioning, and this development is perfectly aligned with this operating philosophy,” continued Mr. Tavlarios. “We are taking decisive actions to diversify our geographic presence, expand our revenue base and increase our earnings potential. We are continuing to deliver on the promise of the Aegean model and this event is yet another milestone illustrating our dynamic progress.”

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Aegean Marine Petroleum, July 16, 2013