08 January 2015

Aegean Marine Petroleum to Launch Operations in Germany

Piraeus, Greece - 08 January 2015 - Aegean Marine Petroleum Network Inc. will launch physical supply and marketing operations in Germany during January 2015. Operations will include the physical supply of marine fuels and lubricants to all German ports and will be based out of Hamburg, the second largest container terminal in Europe. To support its local German operations, Aegean has assumed the contracts for two modern, double-hull bunkering barges previously under charter to OW Bunker and approximately 20,000 cubic meters of on-shore storage capacity. 

The Company has also established a marketing and business development office in Hamburg for the sale and marketing of marine petroleum products throughout the Aegean network and to customers on a worldwide basis. 

E. Nikolas Tavlarios, President of Aegean Marine Petroleum Network, commented, "We continue to execute on our strategy to opportunistically enter new markets, strengthen and diversify our operating reach, all while enhancing our ability to service our customers on a worldwide basis. As we embark on a new year we remain confident that we are well positioned to capitalize on several risk-averse opportunities that will allow Aegean to increase the scale and efficiency of its global marine fuel logistics network, grow our customer base and enhance shareholder value." 

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. Currently, Aegean has a global presence in 29 markets, including Vancouver, Montreal, Mexico, Jamaica, Trinidad and Tobago, Gibraltar, U.K., Northern Europe, Piraeus, Patras, the United Arab Emirates, Singapore, Morocco, the Antwerp-Rotterdam-Amsterdam (ARA) region, Las Palmas, Tenerife, Panama, Hong Kong, Barcelona, the U.S. East Coast, Los Angeles, Long Beach, Algeciras and the Gulf of Mexico. The Company has also entered into a strategic alliance to extend its global reach to China.