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BUNKER INDEX :: Price Index, News and Directory Information for the Marine Fuel Industry
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Aegean acquires OBAST, launches Rostock bunker supply operation

06 Jan 2017 08:09 GMT

Physical operation to serve all German ports in the Baltic Sea and also cover southern Scandinavia.



Aegean Marine Petroleum Network Inc. has announced the launch of a new service center in Rostock, Germany, that will serve all German ports in the Baltic Sea and also cover southern Scandinavia.

The operations at Rostock will be managed by the existing team at OBAST Bunkering & Trading GmbH, a physical bunker supplier and oil cargo trader. Under the terms of the agreement with OBAST, Aegean will acquire OBAST's existing share capital.

E. Nikolas Tavlarios, President of Aegean Marine Petroleum Network, said: "We are pleased to announce the launch of our new service center in Rostock, which strengthens our existing presence in Germany and will enhance the flexibility and reach of our global marine fuel platform enabling us to better serve our customers around the world. The OBAST team is an experienced and valuable addition to Aegean and we look forward to their contributions in managing operations in the Rostock market and delivering value to shareholders."

Mathias Berndt, OBAST's managing director, remarked: "We are excited about the opportunity to join the Aegean team and build upon the solid foundation we have created at OBAST. We look forward to serving our customers and enhancing Aegean's global brand."




Related Links:

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Aegean Marine Petroleum earnings call summary
Aegean posts 55% jump in Q3 net income
Aegean completes repurchase of founder's shares
Aegean reduces costs to achieve profit rise despite lower revenue
Aegean Marine Petroleum S.A.
Rostock
Germany

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