Aegean Marine Petroleum Network Inc. to Expand Presence in the Caribbean
Aegean Marine Petroleum Network Inc. announced that it will be establishing business operations in Trinidad and Tobago, expanding its presence to the southern Caribbean. Aegean is in the process of setting up its local logistics infrastructure and expects to commence operations by the end-of-the first quarter, 2009.
E. Nikolas Tavlarios, President, commented, “We are pleased to once again expand Aegean’s global platform by entering into a strategically important market. Trinidad and Tobago, located in the southern Caribbean and bordering the northeast coast of South America, is a significant transshipment hub which lies along major shipping lanes connecting South America to the Panama Canal, Caribbean, and the U.S. Gulf. Ships sailing through these waters encompass all sectors of the industry, including tanker, container, general cargo, drybulk, chemical, and gas carrier.”
Mr. Tavlarios continued, “We believe Aegean’s leading reputation for providing quality product and service, successful track record in developing new markets, and expansive logistics infrastructure will help establish Trinidad and Tobago as a major bunkering destination in the southern Caribbean. Trinidad and Tobago is a party to the IMO MARPOL Regulation and requires all bunkering tankers entering the market to be double-hull.”
Mr. Tavlarios concluded, “Including Trinidad and Tobago, Aegean will now be in 12 markets around the globe increasing its global dominance in the physical supply of marine fuel. With its expanding infrastructure of double-hull vessels and strong balance sheet, Aegean remains poised to take advantage of industry fundamentals and drive long-term sales volume growth.”
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. As a physical supplier, the Company purchases marine fuel from refineries, major oil producers and other sources. The Company sells and delivers these fuels to a diverse group of ocean-going and coastal ship operators and marine fuel traders, brokers and other users through its service centers in Greece, Gibraltar, Singapore, Jamaica, the United Arab Emirates, Northern Europe, West Africa, the United Kingdom and North America.
