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Wed 4 Mar 2009, 08:09 GMT

Aegean takes delivery of bunker tanker


Newbuild is expected to be deployed to the company's new market in Trinidad and Tobago.

Aegean Marine Petroleum Network Inc. has announced that it has taken delivery of the Kalymnos, a 6,272 dwt double-hull bunkering tanker newbuild from Qingdao Hyundai Shipyard in China. The vessel is expected to be deployed to the company's new market in Trinidad and Tobago.

Commenting on the news, E. Nikolas Tavlarios, said, "We are pleased to take delivery of the Kalymnos, our second bunkering tanker newbuilding to date in 2009 and twelfth since our IPO in December 2006.

We plan to deploy this double-hull vessel to our new and attractive market in Trinidad and Tobago, where we expect to commence operations in the second quarter of 2009. By once again expanding both our global platform and modern bunkering delivery fleet, we plan to further strengthen our leading competitive position for the global supply of marine fuel and drive future sales volumes."

In October 2008, Aegean announced that it would be establishing business operations in Trinidad and Tobago, and 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 said it expects to commence operations in Trinidad and Tobago by the end-of-the first quarter, 2009.

The company has said that it also expects to begin supplying in the port of Tangiers, Morocco, in the first quarter of 2009 upon receiving the necessary trading, bunkering, and environmental licenses required by the local authorities.

In January, Aegean revealed that it had been appointed by Horizon Tangiers Terminal S.A. (HTTSA), a special purpose consortium, to serve as the exclusive bunkering company for the North African port.

Aegean will provide retail bunkering services to ships in port on an exclusive basis for a period of 25 to 35 years. Aegean will also have the right to expand its operation beyond the port perimeter, which is strategically located along the Strait of Gibraltar connecting the Atlantic Ocean to the Mediterranean Sea.

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