Aegean to Redeploy Singapore Barge to New "Beneficial" South African Operation

by Ship & Bunker News Team
Tuesday August 23, 2016

Aegean Marine Petroleum Network Inc. [NYSE: ANW] (Aegean) is already seeing the benefit of its recently launched Algoa Bay, South Africa operation, and is set to redeploy a third barge there, the bunker supplier has told Ship & Bunker.

The company has already deployed two barges to the location, Lefkas and Leros, that were re-allocated from Fujairah.

The third barge on the way to South Africa is the M/T Tilos, which is coming from Singapore and is expected to arrive in September.

The move follows positive comments about the new operation during Aegean's latest earnings call.

Having outlined the cost savings gained from shutting down its recently underperforming operations in Algeciras and Portland, Aegean President E. Nikolas Tavlarios said: "Let's say we've also got a tremendous benefit out of entering our South African business.

"I don't want to say too much more than that, but we're happy with it."

As Ship & Bunker previously reported, Aegean launched the new Algoa Bay operation last March, which serves the ports of Port Elizabeth and Coega.

Ship & Bunker News Team
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