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Tue 20 Jul 2010, 06:37 GMT

Aegean earmarks newbuild for Greece


Double-hull tanker is expected to be used to carry out bunker deliveries in Greece.

Aegean Marine Petroleum Network Inc. has announced that it has taken delivery of the Karpathos, a 6,270 dwt double-hull bunkering tanker newbuild from Qingdao Hyundai Shipyard in China. The vessel is expected to be deployed to the bunker market in Greece.

Commenting on the newbuild, E. Nikolas Tavlarios, President, said, "With the delivery of the Karpathos, Aegean Marine has once again enhanced its ability to capitalize on the strong demand for modern tonnage and strengthen its leading industry brand.

Despite the challenging economic environment, we continue to execute our well-capitalized growth strategy as we have consistently done since going public in December 2006. Based on management's ongoing success in expanding the Company's double-hull bunkering fleet, combined with the recent acquisitions of Verbeke Bunkering N.V. and the Shell Las Palmas terminal, we expect to significantly increase our market share for the global supply of marine fuel and drive future performance."

With the delivery of the Karpathos, the company plans to redeploy the Aegean X, a 1982-built 6,400 dwt double-hull bunkering tanker, to the West Africa bunker market.

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