EMEA News
Aegean to Commence Physical Supply Operations on the Kiel Canal
Aegean Marine Petroleum Network Inc. [NYSE: ANW] (Aegean) today announced it will commence physical supply operations on the Kiel Canal, Germany, from January 2018.
The operation will be managed by Aegean's German subsidiary, OBAST Bunkering & Trading GmbH (Rostock) in partnership with local tank farm operator, UTG - Unabhängige Tanklogistik GmbH.
The new station is located directly on the Baltic Sea entrance to the Kiel Canal, which Aegean says will give them access to shipping transitting the canal and working in the wider regional market.
"The Kiel facility represents the Aegean Group's third storage location in Germany alongside the exclusive use of tanks in Nordenham on the River Weser and with Vopak in Hamburg," said Aegean's President, Jonathan Mcilroy.
"The addition of Kiel operations enhances our flexibility throughout the German and Southern Scandinavian Baltic Sea ports. It also emphasises Aegean's commitment and ability to innovate and expand the physical supply network globally."
Aegean says the new operation will provide a full range of products including RMG 380, ULSFO-RMD 80, and DMA, will all deliveries made ex-pipe from the installation.
Aegean will operate tanks with a capacity of 13,000 cu.m. representing the entirety of UTG's available tankage for marine fuels purposes.
