Aegean Marine Petroleum Network Inc. Takes Delivery of Bunkering Tanker Newbuilding
October 19 2009 - 7:30AM
PR Newswire (US)
Further Expands High-Quality Logistics Infrastructure PIRAEUS,
Greece, Oct. 19 /PRNewswire-FirstCall/ -- Aegean Marine Petroleum
Network Inc. (NYSE:ANW) today announced that it has taken delivery
of the Kefalonia, a 6,272 dwt double-hull bunkering tanker newbuild
from Qingdao Hyundai Shipyard in China. The vessel is expected to
be deployed to the Company's new market located in Trinidad and
Tobago. E. Nikolas Tavlarios, President, commented, "We are pleased
to once again draw upon Aegean's significant financial flexibility
to further increase our delivery capacity. Including the Kefalonia,
Aegean has taken delivery of nine double-hull bunkering vessels to
date in 2009, enabling the Company to expand its global market
share and strengthen its leading industry brand. We intend to
deploy the Kefalonia to Trinidad and Tobago as we seek to drive
future sales volumes in this growing market." About Aegean Marine
Petroleum Network Inc. Aegean Marine Petroleum Network Inc. is an
international marine fuel logistics company that markets and
physically supplies refined marine fuel and lubricants to ships in
port and at sea. The Company procures product from various sources
(such as refineries, oil producers, and traders) and resells it to
a diverse group of customers across all major commercial shipping
sectors and leading cruise lines. Currently, Aegean has a global
presence in 14 markets, including Vancouver, Montreal, Mexico,
Jamaica, Trinidad and Tobago, West Africa, Gibraltar, U.K.,
Northern Europe, Piraeus, Patras, the United Arab Emirates,
Singapore as well as Tangiers, Morocco. Cautionary Statement
Regarding Forward-Looking Statements Matters discussed in this
press release may constitute forward-looking statements. The
Private Securities Litigation Reform Act of 1995 provides safe
harbor protections for forward-looking statements in order to
encourage companies to provide prospective information about their
business. Forward-looking statements include statements concerning
plans, objectives, goals, strategies, future events or performance,
and underlying assumptions and other statements, which are other
than statements of historical facts. The Company desires to take
advantage of the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995 and is including this cautionary
statement in connection with this safe harbor legislation. The
words "believe," "intend," "anticipate," "estimate," "project,"
"forecast," "plan," "potential," "may," "should," "expect" and
similar expressions identify forward-looking statements. The
forward-looking statements in this press release are based upon
various assumptions, many of which are based, in turn, upon further
assumptions, including without limitation, our management's
examination of historical operating trends, data contained in our
records and other data available from third parties. Although we
believe that these assumptions were reasonable when made, because
these assumptions are inherently subject to significant
uncertainties and contingencies which are difficult or impossible
to predict and are beyond our control, we cannot assure you that we
will achieve or accomplish these expectations, beliefs or
projections. In addition to these important factors, other
important factors that, in our view, could cause actual results to
differ materially from those discussed in the forward-looking
statements include our ability to manage growth, our ability to
maintain our business in light of our proposed business and
location expansion, our ability to obtain double hull secondhand
bunkering tankers, the outcome of legal, tax or regulatory
proceedings to which we may become a party, adverse conditions in
the shipping or the marine fuel supply industries, our ability to
retain our key suppliers and key customers, material disruptions in
the availability or supply of crude oil or refined petroleum
products, changes in the market price of petroleum, including the
volatility of spot pricing, increased levels of competition,
compliance or lack of compliance with various environmental and
other applicable laws and regulations, our ability to collect
accounts receivable, changes in the political, economic or
regulatory conditions in the markets in which we operate, and the
world in general, our failure to hedge certain financial risks
associated with our business, our ability to maintain our current
tax treatments and our failure to comply with restrictions in our
credit agreements and other factors. Please see our filings with
the Securities and Exchange Commission for a more complete
discussion of these and other risks and uncertainties. DATASOURCE:
Aegean Marine Petroleum Network Inc. CONTACT: Aegean Marine
Petroleum Network Inc., +1-212-763-5665, ; or Investor Relations,
Leon Berman, Principal, The IGB Group, +1-212-477-8438 Web Site:
http://www.ampni.com/
Copyright