Aegean acquires double-hull bunkering tanker

Vessel is expected to be deployed to West Africa by the end of Q2 2009.



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Updated on 21 Apr 2009 20:58 GMT

Aegean Marine Petroleum Network Inc. has today announced it has taken delivery of the Linnea, a 1980-built 11,520 dwt double-hull bunkering tanker to be renamed the Aegean Star, following the company's agreement to purchase the vessel from a third party.

The Aegean Star is expected to be deployed to the West African market by the end of the second quarter of 2009.

Commenting on the news, E. Nikolas Tavlarios, President, said "With the strategic acquisition of the Aegean Star, Aegean has further strengthened its logistics infrastructure in West Africa. The vessel's significant delivery capacity provides the ability to extend Aegean's reach to more markets located on the Gulf of Guinea and increase sales volumes in this growing region.

"Consistent with our focus on expanding future sales volumes, we plan to commence operations in Tangiers, Morocco and Trinidad and Tobago during the current second quarter and expect to take delivery of 19 remaining double-hull bunkering tanker newbuildings by the end of 2010," Tavlarios added.

Aegean Marine Petroleum began making deliveries of marine fuel in West Africa at the beginning of 2008 when the company stationed its own floating storage tanker M/T Fos off the coast of Ghana. The vessel, which has a total storage capacity of 67,000 metric tonnes, is anchored off Tema.

Aegean also has three bunker vessels, M/T Aegean Tulip, M/T Aegean VII and Medoil III which are able to make delveries in various locations including Ivory Coast, Togo, Benin, Nigeria, Cameroon, Equatorial Guinea and Gabon.