Aegean starts Gulf of Mexico bunkering operation

DECEMBER 23, 2014 — Aegean Marine Petroleum Network Inc. (NYSE: ANW) is to commence immediate marine fuel supply operations in the Gulf of Mexico.  In support of its operations the company has also assumed the contracts for two ocean-going bunkering tankers previously under charter to OW Bunker and expects to purchase the fuel on board them.

The news comes within days of Aegean reporting that it plans to start a Los Angeles based bunkering operation after a purchase of OW Bunker assets at a bankruptcy operation.

E. Nikolas Tavlarios, President of Aegean Marine Petroleum Network, commented, "We are capitalizing on another opportunity to grow our global footprint, diversify our operations into a new and attractive market and expand our ability to service our customers on a worldwide basis. With these specialized tankers and their highly trained personnel in place we can immediately begin servicing the specific needs of vessels transiting the Gulf of Mexico, leveraging our capabilities and driving profitable revenue growth. We believe that we are well-positioned in this market and are excited to provide customers in the region with a full range of marine fuel products.  As we continue to advance our leadership in the marine fuel industry, we remain committed to a risk-averse growth strategy that has, and we believe will continue to, deliver value to our shareholders."

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