Aegean Marine Petroleum Network Inc. has entered into an agreement to purchase the Difko Chaser, a 1990-built 85,050 dwt double-hull Panamax tanker, from an unrelated third party.

The vessel, which will be renamed the Aeolos, will be utilized as floating storage and is expected to go into service at the end of May 2010. Aegean plans to initially deploy the vessel to the Company's market located in Fujairah where the existing floating storage tanker will be undergoing special survey.

E. Nikolas Tavlarios, President, commented, "We are pleased to utilize our considerable financial strength to acquire a large, double-hull storage tanker under favorable terms. By expanding Aegean Marine's high-quality logistics infrastructure in a disciplined manner, we have further enhanced our ability to provide reliable service for our blue-chip customers and strengthen our global brand recognition as we continue to grow sales volumes."

Tags: Aegean Marine Petroleum Network Inc