Americas News
Aegean Marine Petroleum Network To Enter South American Market in Q1 2016
Global bunker player Aegean Marine Petroleum Network Inc. [NYSE: ANW] (Aegean) today announced that it will be commencing operations in the South American market during the first quarter of 2016.
Aegean says it has already assembled a team - based at new offices in Rio de Janeiro, Brazil - that has "extensive local market experience to manage an asset-light physical supply and back-to-back trading model in the region."
"We are pleased to announce our expansion into South America and the opportunity to continue to grow and diversify our business," said E. Nikolas Tavlarios, President of Aegean.
"Our expansion into the South American market is an important milestone for the Company and underscores our focus on expanding our capabilities and global footprint to drive profitable growth and create value for shareholders."
The supplier adds that the new office "will support Aegean's goal of growing its global footprint with minimal start-up costs and position the Company well for continued expansion in the region."
Last year saw Aegean also start a number of other bunkering ventures, including new Marketing & Trading division with offices in Piraeus, Singapore, Hamburg, and St Petersburg.
