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Leading bunker supplier Aegean Marine Petroleum Network Inc. has announced that it will be establishing business operations in Trinidad and Tobago, thus expanding its presence to the southern Caribbean.

The NYSE-listed firm confirmed that it had obtained a bunkering license from the government of Trinidad and Tobago and was in the process of setting up its local logistics infrastructure there.

Aegean expects to commence operations by the end-of-the first quarter, 2009.

Commenting on the news, E. Nikolas Tavlarios, President, said "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.

"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," Mr. Tavlarios concluded.

The announcement of Aegean's plan to begin bunkering in Trinidad and Tobago comes only four months after the company revealed that it had entered into an agreement to acquire Vancouver-based ICS Petroleum, a leading marketer and physical supplier of marine fuel in Canada and Mexico.

Earlier this month, the company also announced that it had taken delivery of the Santorini, a 4,600 dwt double-hull bunkering tanker newbuild, which the company said would be deployed to Aegean's service center in Gibraltar.

The company expects to take delivery of 23 remaining double-hull tanker newbuilds over the next two years, which will expand its total bunker delivery fleet to 52.