NEW YORK, March 23, 2016 /PRNewswire/ -- Aegean Marine
Petroleum Network Inc. (NYSE: ANW) ("Aegean" or the "Company")
today announced that it is launching a bunkering operation in Algoa
Bay, near the port[s] of Port Elizabeth, South Africa and Coega, South Africa.
Located within a few miles of heavily trafficked international
shipping lanes, the new bunkering operation is well positioned as a
natural stopover on routes to Europe, the Americas, Asia, Australia and both coasts of Africa. The
region includes eight commercial ports that are busy conduits for
global trade. Approximately two million metric tons of bunker fuel
is sold annually in the region, underscoring that Aegean's new
operations are located in a robust market with potential for
growth.
E. Nikolas Tavlarios, President
of Aegean Marine Petroleum Network, said, "The launch of bunkering
operations in Algoa Bay is consistent with our strategy to
opportunistically enter new markets. This strategic expansion
allows us to take advantage of compelling market dynamics while
simultaneously providing customers with a faster, more efficient
and affordable alternative in the region. We are confident that
entering this attractive market will strengthen Aegean's unique
market position and prospects for continued growth. As we move
forward, we remain committed to extending our successful track
record of geographic diversification, which we believe will
continue to benefit our customers and drive value creation for our
shareholders."
About Aegean Marine Petroleum Network Inc.
Aegean
Marine Petroleum Network Inc. is an international marine fuel
logistics company that markets and physically supplies refined
marine fuel and lubricants to ships in port and at sea. The Company
procures product from various sources (such as refineries, oil
producers, and traders) and resells it to a diverse group of
customers across all major commercial shipping sectors and leading
cruise lines. Currently, Aegean has a global presence in 32 markets
and a team of professionals ready to serve our customers wherever
they are around the globe. For additional information please
visit: www.ampni.com
Cautionary Statement Regarding Forward-Looking
Statements
Matters discussed in this press release may
constitute forward-looking statements. The Private Securities
Litigation Reform Act of 1995 provides safe harbor protections for
forward-looking statements in order to encourage companies to
provide prospective information about their business.
Forward-looking statements include statements concerning plans,
objectives, goals, strategies, future events or performance, and
underlying assumptions and other statements, which are other than
statements of historical facts.
The Company desires to take advantage of the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995
and is including this cautionary statement in connection with this
safe harbor legislation. The words "believe," "intend,"
"anticipate," "estimate," "project," "forecast," "plan,"
"potential," "may," "should," "expect" and similar expressions
identify forward-looking statements. The forward-looking statements
in this press release are based upon various assumptions, many of
which are based, in turn, upon further assumptions, including
without limitation, our management's examination of historical
operating trends, data contained in our records and other data
available from third parties. Although we believe that these
assumptions were reasonable when made, because these assumptions
are inherently subject to significant uncertainties and
contingencies which are difficult or impossible to predict and are
beyond our control, we cannot assure you that we will achieve or
accomplish these expectations, beliefs or projections.
In addition to these important factors, other important factors
that, in our view, could cause actual results to differ materially
from those discussed in the forward-looking statements include our
ability to manage growth, our ability to maintain our business in
light of our proposed business and location expansion, our ability
to obtain double hull secondhand bunkering tankers, the outcome of
legal, tax or regulatory proceedings to which we may become a
party, adverse conditions in the shipping or the marine fuel supply
industries, our ability to retain our key suppliers and key
customers, material disruptions in the availability or supply of
crude oil or refined petroleum products, changes in the market
price of petroleum, including the volatility of spot pricing,
increased levels of competition, compliance or lack of compliance
with various environmental and other applicable laws and
regulations, our ability to collect accounts receivable, changes in
the political, economic or regulatory conditions in the markets in
which we operate, and the world in general, our failure to hedge
certain financial risks associated with our business, our ability
to maintain our current tax treatments and our failure to comply
with restrictions in our credit agreements and other factors.
Please see our filings with the Securities and Exchange Commission
for a more complete discussion of these and other risks and
uncertainties.
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SOURCE Aegean Marine Petroleum Network Inc.