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Thu 12 Apr 2012, 06:42 GMT

Aegean completes newbuild programme


Supplier takes delivery of double-hull tanker to complete its 31-vessel newbuild plan.

Aegean Marine Petroleum Network Inc. has announced that it has taken delivery of the Symi, a 6,270 dwt double-hull bunkering tanker newbuild from Qingdao Hyundai Shipyard in China.

The Symi, which is expected to be deployed to the West African bunker market, represents the final vessel under Aegean's plan to take delivery of 31 double-hull bunkering tanker newbuildings.

E. Nikolas Tavlarios, President, commented, "We are pleased to take delivery of the Symi and complete our fully funded newbuild program, a major milestone for our company. Since going public in December 2006, we have worked closely with reputable shipyards in the execution of our strategy and taken delivery of 31 double-hull bunkering tanker newbuildings.

"Our large and modern delivery fleet currently totals 69 vessels, providing Aegean with a distinct competitive advantage as we continue to capitalize on a dynamic regulatory environment and strengthen our leading industry brand for the global supply of marine fuel. With significant built-in delivery capacity, combined with an expanding worldwide presence, we are in a strong position to leverage Aegean's high-quality logistics infrastructure and increase the company's future earnings power."

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