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Aegean expands to Germany, assumes OW Bunker’s charter contracts

Aegean expands to Germany, assumes OW Bunker’s charter contracts
Greece’s Aegean Marine Petroleum Network Inc will expand to Germany and launch its new physical supply and marketing operations within this month.

The new Germany venture will be supported by two chartered-in double-hull bunker tankers previously under charter to the now-defunct OW Bunker, and approximately 20,000 cu m of onshore storage space.

The bunker supply business, based out of Hamburg, will include physical supply of marine fuels and lubricants to all German ports.

E. Nikolas Tavlarios, president of Aegean, said: “We continue to execute on our strategy to opportunistically enter new markets, strengthen and diversify our operating reach, all while enhancing our ability to service our customers on a worldwide basis.”

Marine fuels supplier Aegean also announced last month its new venture into the Gulf of Mexico, by similarly taking over contracts for two bunker tankers previously under charter to OW Bunker.

Aegean has expanded and capitalised on the downfall of OW Bunker as it swiftly snapped up the latter’s distressed assets. Last December, Aegean also moved into the US Los Angeles and Long Beach markets by assuming OW Bunker’s storage contract and acquiring its marine fuel.