Aegean Marine Petroleum Network announced Jan. 8 that it will begin supplying and marketing marine lubricants and fuels in Germany this month.
Operations during this launch will include the physical supply of marine fuels and lubricants to all German ports and will be based out of Hamburg, the largest port in Germany and the second-largest container terminal in Europe.
To support its local German operations, Aegean chartered two modern, double-hull bunkering barges previously under charter to OW Bunker and approximately 20,000 cubic meters of on-shore storage capacity.
We continue to execute on our strategy to opportunistically enter new markets, strengthen and diversify our operating reach, all while enhancing our ability to service our customers on a worldwide basis, E. Nikolas Tavlarios, president of Piraeus, Greece-based Aegean Marine Petroleum, stated in a news release.
The company also established a marketing and business development office in Hamburg for the sale and marketing of marine petroleum products throughout the Aegean network.
The company stated in a December presentation to analysts that sales volumes of its Alfa branded marine lubricants grew from less than 2,000 metric tons in 2007 to over 26,000 tons in 2012. Its volume for 2014 reached 25,000 tons as of Sept. 30.
Aegean Marine Petroleum has been trading marine lubricants for more than 16 years, in addition to being a global physical supplier of bunkered fuel oil. The company operates in 21 markets and has formed an alliance to enter China. In 2006, Chevron Global Lubricants sold a blending plant and fuels terminal in Skaramanga, Greece, to an affiliate of Aegean Petroleum S.A.