Global marine fuel firm to expand in the US

International marine fuel logistics company Aegean Marine Petroleum Network Inc. has signed a lease and supply agreement with Colonial Terminals, Inc. to strengthen its existing presence in the United States East Coast market, according to a company release.

Under the agreement, Aegean will lease tankage from Colonial's oil terminal in Savannah, Georgia, acquire and blend a full range of bunker fuel products, and supply Colonial Oil Industries with a range of No. 6 oil products for Colonial's truck delivery business.

"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. 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," said Manolis Chochlakis, Regional Manager of the Americas for Aegean Marine Petroleum Network.

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