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Wed 23 Jul 2008, 15:20 GMT

Aegean acquires three bunker tankers


New double-hull bunkering tankers will be deployed to Aegean's service center in Piraeus.

Aegean Marine Petroleum Network Inc. has announced that it has acquired three double-hull bunkering tankers which will be deployed to Aegean's service center in Piraeus.

The three vessels will replace the single-hull fleet, previously owned and operated by a related party, which needed to be phased-out as per the requirements of the International Maritime Organization (IMO) and the European Union (EU) on the carriage of heavy grade fuel by single-hull bunkering tankers beyond the year 2008.

Included in this acquisition are the Aegean III, a 1990-built 2,972 dwt double-hull bunkering tanker, the Aegean VIII, a 1990-built 2,972 dwt double- hull bunkering tanker, and the Aegean XII, a 1979-built 3,660 dwt double-hull bunkering tanker.

With the addition of these vessels, Aegean now owns and operates 26 bunkering tankers and 2 barges. The company expects to take delivery of the remaining 24 double-hull bunkering tanker newbuildings over the next two years, which will expand Aegean's bunkering fleet to 52.

Speaking about the acquisition, Aegean President E. Nikolas Tavlarios said "This strategic acquisition of three double-hull bunkering tankers in the secondary market significantly enhances our fleet profile in Piraeus, puts the company in compliance with the IMO/EU double-hull requirements, and strengthens our competitive position in the ownership and operation of a double-hull fleet."

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