Sealub Alliance Network to Increase Distribution Coverage for Branded Line of Lubricants to 450 Ports in 40 Countries
HONG KONG and PIRAEUS, Greece, Feb. 10 /PRNewswire-FirstCall/ -- Aegean Marine Petroleum Network Inc. (NYSE:ANW) and Gulf Oil Marine Ltd., a member of Gulf Oil Group, today announced that they entered into a strategic partnership for the global distribution of marine lubricants. This partnership will allow for Aegean to 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, both widely respected within the shipping community for providing high-quality products and services, 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. 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." 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 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 13 markets, including Vancouver, Montreal, Mexico, Jamaica, West Africa, Gibraltar, U.K., Northern Europe, Greece, the United Arab Emirates as well as Singapore, and plans to commence operations in Tangiers, Morocco and Trinidad and Tobago.
About Gulf Oil Marine Ltd.
Gulf Oil Marine Ltd. is the newest operation for Gulf Oil Group, in the form of a dedicated and customized supply service for lubricants to the worldwide shipping industry. Gulf Oil Marine provides the shipping industry with marine lubricants high-quality products, expert and friendly customer service and a large range of technical services.
About Sealub Alliance Founded in 2008 by Gulf Oil Marine Ltd., a Member of Gulf Oil Group, the Sealub Alliance is dedicated to the supply of marine lubricants to the worldwide shipping industry. Members of the Alliance currently serve more than 450 ports in over 40 countries. By the end of 2009, the Sealub Alliance plans to deliver marine lubricants and services to over 750 ports in 60 countries.
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 Leon Berman, Principal for The IGB Group, +1-212-477-8438 Web Site: http://www.ampni.com/
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