EMEA News
Aegean Announces Barcelona Bunkering Expansion Plans
New York-listed bunker supplier Aegean Marine Petroleum Network Inc. (Aegean) [NYSE:ANW] said Wednesday it intends to expand its bunkering operation to the port of Barcelona, providing retail bunkering services to all major shipping sectors and leading cruise lines both in port and at sea by the end of Q1 2013.
To support this, Aegean said it has signed a "definitive agreement" with Spanish oil and energy logistics firm Meroil securing terminal storage capacity of approximately 50,000 cubic meters in the port for fuel oil.
"This new and attractive market provides Aegean with compelling growth opportunities as we seek to increase the utilisation of our large and modern delivery fleet following the completion of our newbuild program earlier this year," commented Aegean President E. Nikolas Tavlarios.
"We intend to build market share by capitalising on our leading reputation for providing an integrated solution for the supply and delivery of marine fuel on a worldwide basis and leveraging our extensive customer relationships," he added.
According to the press release, the port of Barcelona has approximately 10,000 transits per year generating approximately 1.2 million metric tonnes of annual marine fuel sales volumes.
The port, which Aegean said also has extensive cruise passenger travel, is currently undergoing a modernisation and expansion plan headed by the Barcelona Port Authority that is expected to substantially increase the port's capacity upon completion in 2014.
