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Tue 7 Jun 2011, 06:13 GMT

Aegean expands ARA market fleet


Double-hull barge to operate in the Antwerp-Rotterdam-Amsterdam region.

Aegean Marine Petroleum Network Inc. has announced that it has taken delivery of the Montana, a 4,560 dwt double-hull newbuild barge from Santierul Naval Constanta SA in Romania and outfitted at Teamco Shipyard in Heuzden, Holland.

The estuary barge, which was purchased in connection with the 2010 acquisition of Verbeke Bunkering N.V., has been deployed to the Antwerp-Rotterdam-Amsterdam (ARA) region.

Commenting on the latest addition to the company's fleet E. Nikolas Tavlarios, President, commented: "With the delivery of the Montana, Aegean has increased its delivery capacity in the world's second largest bunkering market. This new double-hull barge provides our company with greater operational flexibility in the safe and reliable transportation and distribution of multiple grades of fuel in order to meet the needs of our high credit quality customers.

"Consistent with our objective to increase utilization and drive future earnings, we expect to complete our fully funded newbuild program in 2011 as we continue to enter new and attractive markets," Tavlarios said.

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