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Fri 1 May 2009, 13:30 GMT

Aegean 'strengthens its position' in the UAE


Bunker supplier to deploy double-hull bunkering tanker to UAE market.

Aegean Marine Petroleum Network Inc. has today announced that it has taken delivery of the Sichem Arctic, a 1991-built 23,400 dwt double-hull bunkering tanker to be renamed the Aegean Champion, following the company's agreement to purchase the vessel from an unrelated third party.

The Aegean Champion is expected to be deployed to the company's market located in the United Arab Emirates.

Commenting on the news, E. Nikolas Tavlarios, President, said "With the strategic acquisition of the Aegean Champion, one of the largest bunkering tankers in the world, management drew upon the company's significant financial flexibility to further expand its double-hull bunkering fleet.

We intend to deploy this vessel to the United Arab Emirates, considerably enhancing our growth prospects in this attractive market. By once again strengthening Aegean's leading competitive position, we intend to continue to expand our global market share for the physical supply of marine fuel and drive future sales volume growth."

United Arab Emirates  Fujairah (AE)  Khor Fakkan (AE) 
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