Aegean and Gulf Oil in lubricant partnership

Global marine lubricant distribution network to reach 450 ports in 40 countries.

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Updated on 11 Feb 2009 06:29 GMT

Aegean Marine Petroleum Network Inc. and Gulf Oil Marine Ltd., a member of Gulf Oil Group, have announced that they have entered into a strategic partnership for the global distribution of marine lubricants. The partnership means Aegean will join the Sealub Alliance Network, a group recently formed by Gulf Oil Marine to distribute high-quality marine lubricants.

Gulf Oil Marine and Aegean Marine Petroleum, plan to establish an expansive global network and infrastructure for the distribution and delivery of first-rate marine lubricants. The strategic partnership between these two companies will allow for a significant extension in Sealub Alliance's presence to more than 450 ports in 40 countries.

Commenting on the partnership, Aegean said "By rapidly expanding the number of ports as well as the facilities and services offered by its members, the Sealub Alliance Network provides a differentiated value proposition to ship owners and ship operators to fully meet the lubrication needs of their vessels."

Caroline Huot, Chief Executive Officer of Gulf Oil Marine Ltd., stated: "We are excited to partner with Aegean Marine Petroleum to further expand Sealub Alliance Network for the global delivery of marine lubricants.

Aegean's leading reputation for customer satisfaction combined with its commitment to high-quality lubricants is consistent with our objective to provide a superior product on a worldwide basis. Based on Aegean's extensive global reach and commitment to excellence, we are confident that they will add significant value to the Sealub Alliance as we continue our rapid growth."

E. Nikolas Tavlarios, President of Aegean Marine Petroleum Network Inc., commented: "We are pleased to join the Sealub Alliance as we continue to grow our marine lubricant business. By substantially increasing our joint global distribution network for marine lubricants to more than 450 ports, we expect to capitalize on our expanded scale and compete in a large number of markets traditionally led by major oil companies.

"Aegean's strong brand recognition and successful track record in providing value-added services bodes well for the company to continue to offer a high-quality and cost- effective marine lubricant solution. We look forward to developing the Sealub Alliance and further penetrating the over 2 million metric ton annual world ship marine lubricant business," Tavlarios said.