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Wed 1 Jun 2011, 06:44 GMT

Aegean launches bunker service in Tenerife


Supplier to use two existing double-hull tankers in Las Palmas to serve Tenerife.

Aegean Marine Petroleum Network Inc. has announced it has expanded its global network by establishing physical supply operations in Tenerife, Canary Islands, effective immediately.

Tenerife serves as a key commercial hub located along major trans-Atlantic seaborne trade routes, generating total annual marine fuel sales volumes of more than 1.5 million metric tonnes.

Including Las Palmas, where the company commenced operations in August 2010, the ports in the Canary Islands where the company now operates generate more than 3.5 million metric tonnes in annual marine fuel sales volumes.

Aegean said it will manage the operations in Tenerife from the company's existing service center in Las Palmas. Initially, Aegean intends to utilize the two existing double-hull bunkering tankers in Las Palmas to serve Tenerife.

Commenting on the news, Nikolas Tavlarios, President of Aegean, commented, "We are pleased to solidify our strategic presence in the Canary Islands, as planned, by establishing operations in Tenerife. This new market complements our presence in nearby Las Palmas, where we have experienced strong demand for our integrated services, and provides our customers with greater flexibility as we continue to expand our global reach.

"Including Tenerife and the two ports in Panama, Aegean will serve 19 markets covering more than 50 ports worldwide, as compared to 5 service centers at the time of our IPO, positioning the company well to strengthen its industry leadership and expand its future earnings potential."

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