Americas News
Aegean Launches New U.S. East Coast Market in Savannah
Aegean Marine Petroleum Network Inc. [NYSE: ANW] (Aegean) today announced the launch of a new service center in Savannah, Georgia.
Aegean says the operations in Savannah will be managed by the existing Aegean U.S. team.
"We are pleased to announce the launch of our new service center in Savannah, which strengthens our existing presence in the U.S. East Coast market. Our core customer base will get a price competitive offering in a critical container market that has been underserved since Colonial's exit from the business in 2013," said Manolis Chochlakis, Aegean's Regional Manager of the Americas.
"Aegean's expansion into the U.S. Southeast Coast will enhance the flexibility and reach of our supply network and enable us to better serve our customers."
Under the terms of an agreement with Colonial Terminals, Inc. (Colonial), Aegean says it will lease tankage from Colonial's oil terminal on the Savannah River, and will acquire and blend a full range of bunker fuel products.
Aegean has also agreed to supply Colonial Oil Industries, Inc. with a range of No. 6 oil products for Colonial's truck delivery business.
"The Colonial Group is an experienced group that knows how to store, blend and distribute marine fuels. We are excited to partner with them to bring Savannah back to prominence as a marine fuel market," said Chochlakis.
Aegean notes it has contracted with the Vane Brothers Company to provide barge services in Savannah, which is the third largest container port in the United States.
The Colonial lease and supply agreement begins July 1, 2017.
