Greece: Aegean Marine Takes Delivery of Newbuild Bunkering Tanker TILOS

Aegean Marine Petroleum Network Inc. yesterday 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.”

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 more than 17 markets, including Vancouver, Montreal, Mexico, Jamaica, Trinidad and Tobago, West Africa, Gibraltar, U.K., Northern Europe, Piraeus, Patras, the United Arab Emirates, Singapore, Morocco, the Antwerp-Rotterdam-Amsterdam (ARA) region, Las Palmas and Cape Verde.

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Source: AegeanMarine, April 13, 2011.