PIRAEUS, Greece, Dec. 22, 2014 /PRNewswire/ -- Aegean Marine
Petroleum Network Inc. (NYSE: ANW) (the "Company") today announced
that it will commence immediate marine fuel supply operations in
the Gulf of Mexico. In support of its operations the
Company has also assumed the contracts for two ocean-going
bunkering tankers previously under charter to OW Bunker and
expects to purchase the fuel on-board.
E. Nikolas Tavlarios, President
of Aegean Marine Petroleum Network, commented, "We are capitalizing
on another opportunity to grow our global footprint, diversify our
operations into a new and attractive market and expand our ability
to service our customers on a worldwide basis. With
these specialized tankers and their highly trained personnel in
place we can immediately begin servicing the specific needs of
vessels transiting the Gulf of
Mexico, leveraging our capabilities and driving profitable
revenue growth. We believe that we are well-positioned in this
market and are excited to provide customers in the region with a
full range of marine fuel products. As we continue to
advance our leadership in the marine fuel industry, we remain
committed to a risk-averse growth strategy that has, and we believe
will continue to, deliver value to our shareholders."
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 28
markets, including Vancouver,
Montreal, Mexico, Jamaica, Trinidad
and Tobago, Gibraltar,
U.K., Northern Europe, Piraeus,
Patras, the United Arab Emirates,
Singapore, Morocco, the Antwerp-Rotterdam-Amsterdam (ARA) region, Las Palmas, Tenerife, Panama, Hong
Kong, Barcelona, the U.S.
East Coast, Los Angeles,
Long Beach and Algeciras. The
Company has also entered into a strategic alliance to extend its
global reach to China. To learn
more about Aegean, visit http://www.ampni.com.
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 successfully consummate
and integrate business acquisition, 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 the Company 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 the
Company operates, 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.
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SOURCE Aegean Marine Petroleum Network Inc.